Wipfli Financial Advisors LLC Makes New Investment in TC Energy Co. (NYSE:TRP)

Wipfli Financial Advisors LLC purchased a new position in shares of TC Energy Co. (NYSE:TRPGet Rating) (TSE:TRP) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 2,103 shares of the pipeline company’s stock, valued at approximately $86,000.

Other institutional investors also recently added to or reduced their stakes in the company. FDx Advisors Inc. increased its position in TC Energy by 4.1% during the second quarter. FDx Advisors Inc. now owns 13,510 shares of the pipeline company’s stock worth $700,000 after buying an additional 527 shares during the period. Center For Asset Management LLC acquired a new position in shares of TC Energy in the second quarter valued at approximately $343,000. Pendal Group Ltd increased its holdings in shares of TC Energy by 360.8% in the second quarter. Pendal Group Ltd now owns 302,025 shares of the pipeline company’s stock valued at $15,645,000 after purchasing an additional 236,481 shares during the period. LVW Advisors LLC increased its holdings in shares of TC Energy by 73.7% in the second quarter. LVW Advisors LLC now owns 6,948 shares of the pipeline company’s stock valued at $360,000 after purchasing an additional 2,947 shares during the period. Finally, GPS Wealth Strategies Group LLC increased its holdings in shares of TC Energy by 53.6% in the third quarter. GPS Wealth Strategies Group LLC now owns 777 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 271 shares during the period. Institutional investors and hedge funds own 71.86% of the company’s stock.

TC Energy Stock Up 1.9 %

TRP opened at $41.56 on Thursday. The business’s fifty day moving average is $43.40 and its two-hundred day moving average is $46.34. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.47 and a current ratio of 0.53. The company has a market cap of $42.31 billion, a price-to-earnings ratio of 16.43, a PEG ratio of 3.22 and a beta of 0.81. TC Energy Co. has a one year low of $38.35 and a one year high of $59.38.

TC Energy (NYSE:TRPGet Rating) (TSE:TRP) last posted its earnings results on Wednesday, November 9th. The pipeline company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.07. TC Energy had a return on equity of 13.98% and a net margin of 22.89%. The company had revenue of $2.91 billion for the quarter. Analysts anticipate that TC Energy Co. will post 3.17 EPS for the current fiscal year.

TC Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 31st. Stockholders of record on Friday, December 30th will be given a $0.661 dividend. The ex-dividend date of this dividend is Thursday, December 29th. This represents a $2.64 annualized dividend and a dividend yield of 6.36%. TC Energy’s dividend payout ratio is currently 105.14%.

Analyst Ratings Changes

TRP has been the topic of a number of recent research reports. Royal Bank of Canada dropped their target price on TC Energy from C$75.00 to C$73.00 in a report on Wednesday, November 30th. Raymond James raised TC Energy from a “market perform” rating to an “outperform” rating in a report on Friday, January 6th. Barclays decreased their price target on TC Energy from C$67.00 to C$65.00 in a research note on Wednesday, October 19th. StockNews.com initiated coverage on TC Energy in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, National Bank Financial lifted their price target on TC Energy from C$56.00 to C$58.00 in a research note on Friday, November 11th. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $65.83.

About TC Energy

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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 Storage. The company builds and operates 93,300 km network 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.

See Also

Want to see what other hedge funds are holding TRP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TC Energy Co. (NYSE:TRPGet Rating) (TSE:TRP).

Institutional Ownership by Quarter for TC Energy (NYSE:TRP)

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