Harrison Street Private Wealth LLC Purchases New Position in TC Energy Corporation $TRP

Harrison Street Private Wealth LLC purchased a new stake in TC Energy Corporation (NYSE:TRP) (TSE:TRP) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 60,690 shares of the pipeline company’s stock, valued at approximately $3,788,000. TC Energy makes up 5.0% of Harrison Street Private Wealth LLC’s holdings, making the stock its 9th largest holding.

A number of other large investors have also bought and sold shares of the business. Gold Investment Management Ltd. raised its position in TC Energy by 2.0% in the 4th quarter. Gold Investment Management Ltd. now owns 9,964 shares of the pipeline company’s stock valued at $549,000 after purchasing an additional 200 shares during the last quarter. Kennebec Savings Bank increased its stake in shares of TC Energy by 2.1% in the fourth quarter. Kennebec Savings Bank now owns 9,854 shares of the pipeline company’s stock valued at $542,000 after buying an additional 203 shares in the last quarter. Nations Financial Group Inc. IA ADV increased its stake in shares of TC Energy by 5.7% in the first quarter. Nations Financial Group Inc. IA ADV now owns 3,911 shares of the pipeline company’s stock valued at $245,000 after buying an additional 210 shares in the last quarter. JCIC Asset Management Inc. raised its holdings in shares of TC Energy by 6.2% in the fourth quarter. JCIC Asset Management Inc. now owns 3,746 shares of the pipeline company’s stock valued at $206,000 after buying an additional 220 shares during the last quarter. Finally, Arax Advisory Partners raised its holdings in shares of TC Energy by 7.9% in the fourth quarter. Arax Advisory Partners now owns 3,029 shares of the pipeline company’s stock valued at $167,000 after buying an additional 221 shares during the last quarter. 83.13% of the stock is currently owned by institutional investors.

TC Energy Price Performance

Shares of TRP stock opened at $66.37 on Friday. The stock has a 50-day moving average price of $67.35 and a 200 day moving average price of $62.47. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 1.67. The firm has a market cap of $69.15 billion, a price-to-earnings ratio of 28.81 and a beta of 0.66. TC Energy Corporation has a 12 month low of $46.29 and a 12 month high of $71.47.

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

TC Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors 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 110.43%.

Wall Street Analyst Weigh In

A number of brokerages have commented on TRP. Morgan Stanley lowered shares of TC Energy from an “overweight” rating to an “equal weight” rating in a report on Wednesday, June 10th. Barclays reaffirmed an “overweight” rating on shares of TC Energy in a research note on Monday, May 4th. TD Securities reiterated a “hold” rating on shares of TC Energy in a research report on Monday, May 4th. Royal Bank Of Canada increased their price target on shares of TC Energy from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of TC Energy in a report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, TC Energy has a consensus rating of “Moderate Buy” and an average price target of $78.50.

TC Energy Company 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.