Williamson Legacy Group LLC Invests $398,000 in TC Energy Corporation $TRP

Williamson Legacy Group LLC acquired a new position in TC Energy Corporation (NYSE:TRP) (TSE:TRP) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 8,159 shares of the pipeline company’s stock, valued at approximately $398,000.

A number of other large investors have also recently made changes to their positions in the stock. Goldman Sachs Group Inc. increased its holdings in TC Energy by 2,565.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 16,306,187 shares of the pipeline company’s stock worth $769,815,000 after acquiring an additional 15,694,336 shares in the last quarter. Norges Bank bought a new position in shares of TC Energy in the second quarter worth approximately $493,434,000. Bank of Nova Scotia increased its stake in shares of TC Energy by 80.3% in the first quarter. Bank of Nova Scotia now owns 16,983,443 shares of the pipeline company’s stock worth $802,164,000 after purchasing an additional 7,562,887 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of TC Energy by 34.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 19,808,558 shares of the pipeline company’s stock valued at $935,627,000 after purchasing an additional 5,053,228 shares during the period. Finally, Deutsche Bank AG lifted its stake in shares of TC Energy by 175.1% during the 1st quarter. Deutsche Bank AG now owns 5,758,203 shares of the pipeline company’s stock valued at $271,845,000 after buying an additional 3,664,862 shares in the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Price Performance

NYSE:TRP opened at $54.09 on Friday. The business’s 50-day moving average is $52.80 and its 200 day moving average is $50.74. TC Energy Corporation has a 12 month low of $43.51 and a 12 month high of $55.37. The company has a market capitalization of $56.30 billion, a P/E ratio of 18.46, a P/E/G ratio of 4.82 and a beta of 0.73. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.54.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Thursday, November 6th. The pipeline company reported $0.56 earnings per share for the quarter, meeting the consensus estimate of $0.56. TC Energy had a return on equity of 11.22% and a net margin of 28.98%.The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $2.63 billion. During the same quarter last year, the business posted $1.03 EPS. On average, equities research analysts forecast that TC Energy Corporation will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be given a $0.85 dividend. This is a boost from TC Energy’s previous quarterly dividend of $0.61. This represents a $3.40 annualized dividend and a yield of 6.3%. The ex-dividend date is Wednesday, December 31st. TC Energy’s dividend payout ratio (DPR) is presently 103.88%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on TRP shares. Barclays reiterated an “overweight” rating on shares of TC Energy in a research note on Tuesday, October 14th. TD Securities reiterated a “buy” rating on shares of TC Energy in a research report on Friday, October 17th. Cibc World Mkts downgraded TC Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. Royal Bank Of Canada upped their price target on TC Energy from $74.00 to $84.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Finally, Wall Street Zen lowered shares of TC Energy from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $84.00.

TC Energy 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.