Harbor Asset Planning Inc. Takes $43,000 Position in TC Energy Corporation $TRP

Harbor Asset Planning Inc. acquired a new stake in TC Energy Corporation (NYSE:TRP) (TSE:TRP) in the second quarter, Holdings Channel.com reports. The fund acquired 882 shares of the pipeline company’s stock, valued at approximately $43,000.

A number of other institutional investors have also modified their holdings of TRP. GAMMA Investing LLC grew its stake in shares of TC Energy by 4,621.3% in the first quarter. GAMMA Investing LLC now owns 6,657 shares of the pipeline company’s stock valued at $314,000 after buying an additional 6,516 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of TC Energy by 77.7% in the first quarter. Farther Finance Advisors LLC now owns 2,299 shares of the pipeline company’s stock valued at $110,000 after buying an additional 1,005 shares in the last quarter. Inscription Capital LLC acquired a new position in TC Energy during the 1st quarter worth $236,000. Kingswood Wealth Advisors LLC grew its stake in TC Energy by 22.7% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 10,252 shares of the pipeline company’s stock worth $486,000 after purchasing an additional 1,895 shares in the last quarter. Finally, Good Steward Wealth Advisors LLC acquired a new position in TC Energy during the 1st quarter worth $451,000. 83.13% of the stock is owned by institutional investors and hedge funds.

TC Energy Stock Down 0.5%

TC Energy stock opened at $51.47 on Friday. TC Energy Corporation has a fifty-two week low of $43.51 and a fifty-two week high of $55.37. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.54 and a current ratio of 0.61. The company has a market capitalization of $53.54 billion, a P/E ratio of 17.57, a PEG ratio of 4.85 and a beta of 0.75. The stock has a 50-day simple moving average of $52.23 and a 200-day simple moving average of $49.89.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Thursday, July 31st. The pipeline company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.03. TC Energy had a return on equity of 11.22% and a net margin of 28.98%.The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the previous year, the business earned $0.79 EPS. Equities research analysts expect that TC Energy Corporation will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be issued a $0.6148 dividend. This represents a $2.46 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend is Monday, September 29th. This is an increase from TC Energy’s previous quarterly dividend of $0.61. TC Energy’s dividend payout ratio (DPR) is presently 84.30%.

Analysts Set New Price Targets

Several research firms recently commented on TRP. US Capital Advisors cut TC Energy from a “moderate buy” rating to a “hold” rating in a research note on Thursday, August 21st. Barclays reissued an “overweight” rating on shares of TC Energy in a research note on Tuesday. Cibc World Mkts cut TC Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. Weiss Ratings reissued a “buy (b-)” rating on shares of TC Energy in a research note on Wednesday, October 8th. Finally, Wall Street Zen cut TC Energy from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, TC Energy has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

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.