TC Energy Co. (NYSE:TRP) Shares Acquired by Parkwood LLC

Parkwood LLC grew its holdings in TC Energy Co. (NYSE:TRPGet Rating) (TSE:TRP) by 1.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 26,025 shares of the pipeline company’s stock after acquiring an additional 492 shares during the quarter. Parkwood LLC’s holdings in TC Energy were worth $26,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TRP. Prospera Financial Services Inc acquired a new stake in shares of TC Energy during the first quarter worth about $33,000. Advisor Group Holdings Inc. lifted its holdings in shares of TC Energy by 71.7% during the first quarter. Advisor Group Holdings Inc. now owns 66,231 shares of the pipeline company’s stock worth $3,956,000 after purchasing an additional 27,666 shares during the period. Principal Financial Group Inc. acquired a new stake in shares of TC Energy during the first quarter worth about $4,740,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of TC Energy by 43.8% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 12,847 shares of the pipeline company’s stock worth $725,000 after purchasing an additional 3,916 shares during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of TC Energy during the first quarter worth about $510,000. Institutional investors and hedge funds own 70.14% of the company’s stock.

TC Energy Stock Up 0.3 %

TC Energy stock opened at $42.66 on Friday. The stock has a market capitalization of $43.42 billion, a PE ratio of 16.86, a price-to-earnings-growth ratio of 3.36 and a beta of 0.79. TC Energy Co. has a 12 month low of $39.11 and a 12 month high of $59.38. The business has a 50 day simple moving average of $44.18 and a 200-day simple moving average of $48.90. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.53 and a quick ratio of 0.47.

TC Energy (NYSE:TRPGet Rating) (TSE:TRP) last issued its quarterly earnings results on Wednesday, November 9th. The pipeline company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.75 by $0.07. TC Energy had a return on equity of 13.98% and a net margin of 22.89%. The firm had revenue of $2.91 billion during the quarter. On average, analysts anticipate that TC Energy Co. will post 3.17 EPS for the current fiscal year.

TC Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Investors of record on Friday, December 30th will be given a dividend of $0.661 per share. This represents a $2.64 annualized dividend and a dividend yield of 6.20%. The ex-dividend date of this dividend is Thursday, December 29th. TC Energy’s payout ratio is 103.95%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on TRP shares. Scotiabank decreased their target price on TC Energy from C$76.00 to C$67.00 in a report on Thursday, October 20th. BMO Capital Markets decreased their price target on TC Energy from C$70.00 to C$68.00 in a report on Wednesday, November 30th. Royal Bank of Canada decreased their price target on TC Energy from C$75.00 to C$73.00 in a report on Wednesday, November 30th. StockNews.com initiated coverage on TC Energy in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, National Bank Financial boosted their price target on TC Energy from C$56.00 to C$58.00 in a report on Friday, November 11th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $66.08.

TC Energy Profile

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TC Energy Corporation operates as an energy infrastructure company in North America. It operates through five segments: Canadian Natural Gas Pipelines; U.S. Natural Gas Pipelines; Mexico Natural Gas Pipelines; Liquids Pipelines; and Power and Storage. The company builds and operates 93,300 km network of natural gas pipelines, which transports natural gas from supply basins to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other businesses.

Further Reading

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Institutional Ownership by Quarter for TC Energy (NYSE:TRP)

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