Signature Estate & Investment Advisors LLC Acquires Shares of 8,670 TC Energy Co. (NYSE:TRP)

Signature Estate & Investment Advisors LLC purchased a new position in TC Energy Co. (NYSE:TRP) (TSE:TRP) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 8,670 shares of the pipeline company’s stock, valued at approximately $329,000.

Other institutional investors have also modified their holdings of the company. Cohen Investment Advisors LLC increased its position in shares of TC Energy by 9.0% during the 2nd quarter. Cohen Investment Advisors LLC now owns 10,349 shares of the pipeline company’s stock valued at $392,000 after purchasing an additional 858 shares during the period. Catalyst Capital Advisors LLC boosted its stake in shares of TC Energy by 8.6% during the 2nd quarter. Catalyst Capital Advisors LLC now owns 325,166 shares of the pipeline company’s stock worth $12,324,000 after acquiring an additional 25,848 shares in the last quarter. First Heartland Consultants Inc. grew its holdings in shares of TC Energy by 3.6% in the 2nd quarter. First Heartland Consultants Inc. now owns 66,931 shares of the pipeline company’s stock worth $2,537,000 after acquiring an additional 2,320 shares during the last quarter. apricus wealth LLC lifted its holdings in shares of TC Energy by 2.8% during the second quarter. apricus wealth LLC now owns 69,810 shares of the pipeline company’s stock valued at $2,646,000 after purchasing an additional 1,920 shares during the last quarter. Finally, Raymond James Trust N.A. increased its stake in TC Energy by 5.0% in the 2nd quarter. Raymond James Trust N.A. now owns 28,662 shares of the pipeline company’s stock worth $1,086,000 after purchasing an additional 1,354 shares in the last quarter. Institutional investors own 83.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Barclays raised shares of TC Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $44.67.

TC Energy Stock Up 0.4 %

TRP traded up $0.19 during midday trading on Tuesday, hitting $45.63. 205,331 shares of the company’s stock traded hands, compared to its average volume of 2,927,011. The company has a market cap of $45.63 billion, a PE ratio of 23.43, a price-to-earnings-growth ratio of 3.66 and a beta of 0.79. The stock’s fifty day simple moving average is $41.01 and its 200-day simple moving average is $39.44. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.76 and a quick ratio of 0.68. TC Energy Co. has a one year low of $32.51 and a one year high of $45.68.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.29. The company had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.78 billion. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. During the same quarter in the previous year, the firm earned $0.71 earnings per share. As a group, equities analysts anticipate that TC Energy Co. will post 3.04 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be given a $0.702 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.81 annualized dividend and a dividend yield of 6.15%. TC Energy’s dividend payout ratio is 143.30%.

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.