Corient Private Wealth LLC Boosts Holdings in TC Energy Corporation $TRP

Corient Private Wealth LLC grew its stake in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 45.6% during the 4th quarter, Holdings Channel reports. The firm owned 46,700 shares of the pipeline company’s stock after purchasing an additional 14,629 shares during the quarter. Corient Private Wealth LLC’s holdings in TC Energy were worth $2,576,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of TRP. Annis Gardner Whiting Capital Advisors LLC purchased a new position in TC Energy in the 4th quarter valued at about $25,000. Trust Co. of Vermont purchased a new stake in TC Energy during the 4th quarter worth approximately $28,000. McIlrath & Eck LLC acquired a new position in shares of TC Energy during the fourth quarter valued at approximately $32,000. SWAN Capital LLC purchased a new position in shares of TC Energy in the third quarter valued at approximately $40,000. Finally, Glen Eagle Advisors LLC purchased a new position in shares of TC Energy in the fourth quarter valued at approximately $44,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Trading Up 0.0%

Shares of TC Energy stock opened at $69.66 on Monday. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.65 and a quick ratio of 0.57. The stock’s 50 day simple moving average is $66.86 and its 200-day simple moving average is $62.12. The stock has a market cap of $69.66 billion, a P/E ratio of 30.23 and a beta of 0.66. TC Energy Corporation has a 1-year low of $46.29 and a 1-year high of $71.47.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Friday, May 1st. The pipeline company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.70 by $0.02. TC Energy had a return on equity of 10.74% and a net margin of 22.22%.The firm had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter last year, the firm earned $0.95 earnings per share. Analysts predict 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 $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 dividend yield of 5.0%. TC Energy’s dividend payout ratio (DPR) is 109.57%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Weiss Ratings lowered TC Energy from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 4th. BMO Capital Markets restated an “outperform” rating on shares of TC Energy 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 lifted their target price for the stock from $53.00 to $62.00 in a research note on Monday, April 20th. 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. Finally, Scotiabank reiterated an “outperform” rating on shares of TC Energy in a research report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.