Northwestern Mutual Wealth Management Co. Acquires 25,949 Shares of TC Energy Corporation $TRP

Northwestern Mutual Wealth Management Co. boosted its holdings in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 167.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,484 shares of the pipeline company’s stock after acquiring an additional 25,949 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in TC Energy were worth $2,282,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TRP. Mesirow Financial Investment Management Inc. increased its holdings in TC Energy by 2.0% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 9,991 shares of the pipeline company’s stock worth $544,000 after acquiring an additional 200 shares in the last quarter. Gold Investment Management Ltd. grew its holdings in shares of TC Energy by 2.0% during the fourth quarter. Gold Investment Management Ltd. now owns 9,964 shares of the pipeline company’s stock worth $549,000 after buying an additional 200 shares in the last quarter. Kennebec Savings Bank grew its holdings in shares of TC Energy by 2.1% during the fourth quarter. Kennebec Savings Bank now owns 9,854 shares of the pipeline company’s stock worth $542,000 after buying an additional 203 shares in the last quarter. Checchi Capital Advisers LLC grew its holdings in shares of TC Energy by 3.4% during the third quarter. Checchi Capital Advisers LLC now owns 6,171 shares of the pipeline company’s stock worth $336,000 after buying an additional 204 shares in the last quarter. Finally, JCIC Asset Management Inc. grew its holdings in shares of TC Energy by 6.2% during the fourth quarter. JCIC Asset Management Inc. now owns 3,746 shares of the pipeline company’s stock worth $206,000 after buying an additional 220 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors.

TC Energy Trading Down 2.0%

Shares of TRP stock opened at $69.52 on Wednesday. The company’s 50-day moving average price is $64.50 and its 200-day moving average price is $59.77. The company has a current ratio of 0.65, a quick ratio of 0.57 and a debt-to-equity ratio of 1.67. The stock has a market cap of $69.52 billion, a price-to-earnings ratio of 30.17 and a beta of 0.67. TC Energy Corporation has a twelve month low of $46.29 and a twelve month high of $71.47.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Friday, May 1st. The pipeline company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.02. The firm had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.20 billion. TC Energy had a net margin of 22.22% and a return on equity of 10.74%. During the same quarter in the previous year, the company posted $0.95 EPS. As a group, equities analysts predict that TC Energy Corporation will post 2.75 earnings per share for the current year.

TC Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be given a $0.8775 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.51 dividend on an annualized basis and a yield of 5.0%. TC Energy’s dividend payout ratio is presently 109.57%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on TRP shares. Weiss Ratings lowered shares of TC Energy from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 4th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of TC Energy in a report on Tuesday. Royal Bank Of Canada upped their target price on shares of TC Energy from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. The Goldman Sachs Group raised shares of TC Energy from a “sell” rating to a “neutral” rating and boosted their price target for the company from $53.00 to $62.00 in a research report on Monday, April 20th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of TC Energy in a research report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, TC Energy has an average rating of “Moderate Buy” and an average price target of $78.50.

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.