Bleakley Financial Group LLC Boosts Stock Position in TC Energy Co. (NYSE:TRP)

Bleakley Financial Group LLC lifted its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 8.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 124,228 shares of the pipeline company’s stock after purchasing an additional 10,044 shares during the period. Bleakley Financial Group LLC’s holdings in TC Energy were worth $4,994,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. increased its stake in shares of TC Energy by 0.3% in the 1st quarter. Russell Investments Group Ltd. now owns 1,262,444 shares of the pipeline company’s stock worth $50,785,000 after acquiring an additional 3,801 shares during the last quarter. Headlands Technologies LLC grew its holdings in shares of TC Energy by 49,890.3% in the first quarter. Headlands Technologies LLC now owns 15,497 shares of the pipeline company’s stock valued at $623,000 after purchasing an additional 15,466 shares during the period. Atomi Financial Group Inc. acquired a new stake in TC Energy during the first quarter worth about $219,000. Keudell Morrison Wealth Management increased its position in TC Energy by 12.8% during the first quarter. Keudell Morrison Wealth Management now owns 9,827 shares of the pipeline company’s stock worth $395,000 after purchasing an additional 1,118 shares during the last quarter. Finally, Mondrian Investment Partners LTD boosted its holdings in TC Energy by 2.5% in the 1st quarter. Mondrian Investment Partners LTD now owns 9,077,921 shares of the pipeline company’s stock valued at $364,932,000 after purchasing an additional 219,135 shares during the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Trading Up 0.4 %

NYSE TRP traded up $0.14 on Wednesday, reaching $40.07. The stock had a trading volume of 3,055,911 shares, compared to its average volume of 3,058,563. The company has a quick ratio of 0.85, a current ratio of 0.94 and a debt-to-equity ratio of 1.64. The stock has a fifty day moving average price of $38.57 and a two-hundred day moving average price of $38.66. TC Energy Co. has a 12-month low of $32.51 and a 12-month high of $41.03. The firm has a market capitalization of $40.07 billion, a price-to-earnings ratio of 20.59, a P/E/G ratio of 3.25 and a beta of 0.79.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Friday, May 3rd. The pipeline company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.09. TC Energy had a return on equity of 17.94% and a net margin of 17.23%. The business had revenue of $3.15 billion during the quarter, compared to analysts’ expectations of $3.12 billion. As a group, sell-side analysts forecast that TC Energy Co. will post 3.01 EPS for the current fiscal year.

TC Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be given a dividend of $0.71 per share. The ex-dividend date is Friday, June 28th. This represents a $2.84 annualized dividend and a dividend yield of 7.09%. TC Energy’s dividend payout ratio is presently 144.85%.

Wall Street Analysts Forecast Growth

TRP has been the subject of a number of recent analyst reports. TheStreet upgraded shares of TC Energy from a “c+” rating to a “b-” rating in a report on Wednesday, March 20th. Barclays raised TC Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $48.83.

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.