Jones Financial Companies Lllp Has $16 Million Holdings in TC Energy Corporation $TRP

Jones Financial Companies Lllp increased its stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 15.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 299,250 shares of the pipeline company’s stock after acquiring an additional 39,320 shares during the period. Jones Financial Companies Lllp’s holdings in TC Energy were worth $15,999,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Hilltop National Bank bought a new stake in TC Energy in the second quarter valued at approximately $32,000. Harbor Asset Planning Inc. bought a new position in shares of TC Energy during the 2nd quarter worth approximately $43,000. Sagard Holdings Management Inc. acquired a new position in shares of TC Energy during the 2nd quarter worth approximately $46,000. SouthState Corp raised its stake in TC Energy by 2,757.1% in the 2nd quarter. SouthState Corp now owns 1,000 shares of the pipeline company’s stock valued at $49,000 after acquiring an additional 965 shares during the period. Finally, City Holding Co. bought a new stake in TC Energy in the 3rd quarter valued at $72,000. 83.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TRP has been the topic of several research reports. Morgan Stanley reiterated an “overweight” rating on shares of TC Energy in a report on Wednesday, January 28th. Weiss Ratings reiterated a “buy (b-)” rating on shares of TC Energy in a research note on Monday, December 29th. TD Securities restated a “buy” rating on shares of TC Energy in a research report on Friday, October 17th. Scotiabank restated an “outperform” rating on shares of TC Energy in a report on Monday, October 20th. Finally, Wall Street Zen lowered TC Energy from a “hold” rating to a “sell” rating in a research note on Sunday, January 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $84.00.

TC Energy Trading Up 1.7%

TRP opened at $59.36 on Wednesday. The company has a market cap of $61.78 billion, a P/E ratio of 25.59 and a beta of 0.73. The company has a current ratio of 0.63, a quick ratio of 0.56 and a debt-to-equity ratio of 1.60. The company’s 50 day moving average is $55.12 and its 200-day moving average is $52.84. TC Energy Corporation has a 1-year low of $43.59 and a 1-year high of $59.47.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Thursday, November 6th. The pipeline company reported $0.56 EPS for the quarter, hitting the consensus estimate of $0.56. The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $2.63 billion. TC Energy had a net margin of 23.86% and a return on equity of 10.61%. During the same period last year, the company earned $1.03 EPS. Equities research analysts predict that TC Energy Corporation will post 2.63 earnings per share for the current fiscal year.

About TC Energy

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.