Foundations Investment Advisors LLC Has $1.42 Million Stock Position in TC Energy Corporation $TRP

Foundations Investment Advisors LLC raised its position in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 101.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,871 shares of the pipeline company’s stock after purchasing an additional 13,054 shares during the period. Foundations Investment Advisors LLC’s holdings in TC Energy were worth $1,423,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TRP. Annis Gardner Whiting Capital Advisors LLC acquired a new position in TC Energy during the fourth quarter valued at approximately $25,000. Trust Co. of Vermont acquired a new position in TC Energy during the fourth quarter valued at approximately $28,000. Westside Investment Management Inc. raised its position in TC Energy by 100.0% during the third quarter. Westside Investment Management Inc. now owns 594 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 297 shares in the last quarter. McIlrath & Eck LLC acquired a new position in TC Energy during the fourth quarter valued at approximately $32,000. Finally, SWAN Capital LLC acquired a new position in TC Energy during the third quarter valued at approximately $40,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Stock Performance

NYSE TRP opened at $66.67 on Friday. The firm’s fifty day moving average price is $64.71 and its two-hundred day moving average price is $60.05. The stock has a market cap of $66.67 billion, a PE ratio of 28.94 and a beta of 0.67. TC Energy Corporation has a fifty-two week low of $46.29 and a fifty-two week high of $71.47. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.57 and a current ratio of 0.65.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Friday, May 1st. The pipeline company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm posted $0.95 earnings per share. On average, equities analysts expect that TC Energy Corporation will post 2.75 EPS for the current fiscal year.

TC Energy Dividend Announcement

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 paid a dividend of $0.8775 per share. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend is Tuesday, June 30th. TC Energy’s payout ratio is presently 109.57%.

Analyst Upgrades and Downgrades

TRP has been the subject of several research analyst reports. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of TC Energy in a research report on Tuesday. TD Securities restated a “hold” rating on shares of TC Energy in a research report on Monday, May 4th. Wells Fargo & Company restated an “overweight” rating on shares of TC Energy in a research report on Monday, February 16th. The Goldman Sachs Group raised shares of TC Energy from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $53.00 to $62.00 in a research note on Monday, April 20th. Finally, Weiss Ratings cut shares of TC Energy from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $78.50.

TC Energy Profile

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.