Bleakley Financial Group LLC Grows Stock Holdings in TC Energy Corporation $TRP

Bleakley Financial Group LLC boosted its holdings in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 23.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 71,233 shares of the pipeline company’s stock after purchasing an additional 13,749 shares during the period. Bleakley Financial Group LLC’s holdings in TC Energy were worth $3,475,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Spire Wealth Management lifted its position in shares of TC Energy by 102.7% in the 1st quarter. Spire Wealth Management now owns 2,171 shares of the pipeline company’s stock worth $102,000 after purchasing an additional 1,100 shares during the period. Bessemer Group Inc. increased its stake in shares of TC Energy by 141.1% in the 1st quarter. Bessemer Group Inc. now owns 85,802 shares of the pipeline company’s stock worth $4,057,000 after acquiring an additional 50,220 shares in the last quarter. Golden State Wealth Management LLC lifted its position in TC Energy by 222.2% during the 1st quarter. Golden State Wealth Management LLC now owns 1,076 shares of the pipeline company’s stock valued at $51,000 after acquiring an additional 742 shares during the period. Sequoia Financial Advisors LLC boosted its position in shares of TC Energy by 13.4% in the 1st quarter. Sequoia Financial Advisors LLC now owns 11,539 shares of the pipeline company’s stock worth $545,000 after purchasing an additional 1,362 shares in the last quarter. Finally, Quaero Capital S.A. boosted its holdings in TC Energy by 10.3% in the first quarter. Quaero Capital S.A. now owns 28,965 shares of the pipeline company’s stock worth $1,368,000 after acquiring an additional 2,705 shares in the last quarter. Institutional investors own 83.13% of the company’s stock.

Wall Street Analysts Forecast Growth

TRP has been the topic of several analyst reports. Scotiabank reiterated an “outperform” rating on shares of TC Energy in a research note on Monday. Wall Street Zen downgraded shares of TC Energy from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. Cibc World Mkts lowered shares of 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 report on Wednesday, October 8th. Finally, US Capital Advisors cut shares of TC Energy from a “moderate buy” rating to a “hold” rating in a report on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, TC Energy has a consensus rating of “Moderate Buy” and a consensus price target of $72.00.

TC Energy Price Performance

Shares of NYSE:TRP opened at $51.00 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 firm has a fifty day moving average price of $52.34 and a 200 day moving average price of $50.03. The firm has a market cap of $53.05 billion, a price-to-earnings ratio of 17.41, a P/E/G ratio of 4.91 and a beta of 0.75.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly 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 analysts’ expectations of $2.56 billion. During the same quarter last year, the business posted $0.79 EPS. As a group, sell-side analysts expect that TC Energy Corporation will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be paid 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 a positive change from TC Energy’s previous quarterly dividend of $0.61. TC Energy’s dividend payout ratio is 84.30%.

About TC Energy

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.