BBR Partners LLC Invests $476,000 in TC Energy Co. (NYSE:TRP)

BBR Partners LLC acquired a new position in TC Energy Co. (NYSE:TRP) (TSE:TRP) during the third quarter, according to its most recent filing with the SEC. The firm acquired 10,000 shares of the pipeline company’s stock, valued at approximately $476,000.

A number of other large investors have also recently made changes to their positions in the business. Silvercrest Asset Management Group LLC lifted its stake in shares of TC Energy by 5.8% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 30,000 shares of the pipeline company’s stock valued at $1,206,000 after purchasing an additional 1,637 shares during the period. B. Riley Wealth Advisors Inc. lifted its stake in shares of TC Energy by 38.2% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 7,253 shares of the pipeline company’s stock valued at $292,000 after purchasing an additional 2,003 shares during the period. Atria Investments Inc lifted its stake in shares of TC Energy by 2.2% in the 1st quarter. Atria Investments Inc now owns 50,575 shares of the pipeline company’s stock valued at $2,033,000 after purchasing an additional 1,101 shares during the period. Cetera Investment Advisers lifted its stake in shares of TC Energy by 74.1% in the 1st quarter. Cetera Investment Advisers now owns 98,729 shares of the pipeline company’s stock valued at $3,972,000 after purchasing an additional 42,024 shares during the period. Finally, Cetera Advisors LLC lifted its stake in shares of TC Energy by 499.4% in the 1st quarter. Cetera Advisors LLC now owns 47,707 shares of the pipeline company’s stock valued at $1,919,000 after purchasing an additional 39,748 shares during the period. 83.13% of the stock is currently owned by institutional investors.

TC Energy Stock Down 0.7 %

TRP stock opened at $48.41 on Thursday. TC Energy Co. has a 1-year low of $31.83 and a 1-year high of $50.37. The business has a fifty day moving average price of $47.36 and a 200-day moving average price of $43.45. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23. The stock has a market capitalization of $50.25 billion, a P/E ratio of 13.41, a P/E/G ratio of 4.12 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.06. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. The firm had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.83 billion. Equities analysts forecast that TC Energy Co. will post 2.98 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a $0.822 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.29 annualized dividend and a dividend yield of 6.79%. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s payout ratio is presently 67.31%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. UBS Group upgraded TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. The Goldman Sachs Group lifted their price objective on TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research note on Monday, October 21st. BMO Capital Markets lifted their price objective on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. JPMorgan Chase & Co. upgraded TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. Finally, StockNews.com assumed coverage on TC Energy in a research note on Tuesday. They set a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $55.67.

TC Energy Company Profile

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 Energy Solutions. The company builds and operates a network of 93,600 kilometers 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.