Sageworth Trust Co Takes $668,000 Position in TC Energy Corporation $TRP

Sageworth Trust Co bought a new position in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 10,664 shares of the pipeline company’s stock, valued at approximately $668,000.

Other large investors also recently modified their holdings of the company. Sterling Capital Management LLC bought a new position in TC Energy during the 1st quarter valued at approximately $26,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of TC Energy in the 4th quarter worth approximately $25,000. Trust Co. of Vermont bought a new stake in shares of TC Energy in the 4th quarter worth approximately $28,000. McIlrath & Eck LLC purchased a new position in shares of TC Energy during the fourth quarter valued at approximately $32,000. Finally, SWAN Capital LLC purchased a new position in shares of TC Energy during the third quarter valued at approximately $40,000. 83.13% of the stock is owned by institutional investors.

TC Energy Price Performance

TRP opened at $68.97 on Thursday. The company has a current ratio of 0.65, a quick ratio of 0.57 and a debt-to-equity ratio of 1.67. The company has a market cap of $71.86 billion, a price-to-earnings ratio of 29.93 and a beta of 0.66. The stock has a fifty day simple moving average of $67.87 and a two-hundred day simple moving average of $62.85. TC Energy Corporation has a 12-month low of $46.29 and a 12-month high of $71.47.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Friday, May 1st. The pipeline company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. The firm had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.20 billion. TC Energy had a net margin of 22.22% and a return on equity of 10.74%. During the same period in the prior year, the firm earned $0.95 EPS. Research analysts predict that TC Energy Corporation will post 2.73 earnings per share for the current fiscal year.

TC Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.8775 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.1%. TC Energy’s dividend payout ratio (DPR) is currently 107.39%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on TRP shares. Scotiabank restated an “outperform” rating on shares of TC Energy in a report on Monday, May 4th. TD Securities reissued a “hold” rating on shares of TC Energy in a research report on Monday, May 4th. Royal Bank Of Canada upped their price objective on shares of TC Energy from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of TC Energy in a report on Tuesday, May 26th. Finally, The Goldman Sachs Group raised shares of TC Energy from a “sell” rating to a “neutral” rating and raised their target price for the stock from $53.00 to $62.00 in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $78.50.

TC Energy Company Profile

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.