Baskin Financial Services Inc. Acquires Shares of 5,935 TC Energy Co. (NYSE:TRP)

Baskin Financial Services Inc. bought a new position in TC Energy Co. (NYSE:TRP) (TSE:TRP) in the third quarter, HoldingsChannel.com reports. The fund bought 5,935 shares of the pipeline company’s stock, valued at approximately $282,000.

Several other hedge funds and other institutional investors have also modified their holdings of TRP. Creekmur Asset Management LLC acquired a new position in TC Energy during the fourth quarter worth $27,000. Vanguard Group Inc. increased its position in shares of TC Energy by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 40,404,299 shares of the pipeline company’s stock worth $1,579,404,000 after purchasing an additional 778,359 shares in the last quarter. HighPoint Advisor Group LLC bought a new position in TC Energy during the 4th quarter valued at about $242,000. Massmutual Trust Co. FSB ADV boosted its position in TC Energy by 13.6% in the first quarter. Massmutual Trust Co. FSB ADV now owns 48,124 shares of the pipeline company’s stock valued at $1,935,000 after buying an additional 5,763 shares in the last quarter. Finally, New Hampshire Trust grew its stake in TC Energy by 3.8% during the first quarter. New Hampshire Trust now owns 7,263 shares of the pipeline company’s stock worth $292,000 after buying an additional 269 shares during the last quarter. Institutional investors own 83.13% of the company’s stock.

TC Energy Trading Up 1.5 %

TC Energy stock traded up $0.71 during mid-day trading on Wednesday, hitting $47.51. The stock had a trading volume of 460,522 shares, compared to its average volume of 3,240,965. The stock has a 50-day simple moving average of $45.61 and a two-hundred day simple moving average of $41.07. The company has a current ratio of 0.76, a quick ratio of 0.68 and a debt-to-equity ratio of 1.57. The stock has a market capitalization of $47.51 billion, a PE ratio of 24.13, a P/E/G ratio of 3.68 and a beta of 0.81. TC Energy Co. has a 12 month low of $30.48 and a 12 month high of $47.51.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Thursday, August 1st. The pipeline company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.65 by $0.29. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. The company had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.78 billion. During the same quarter in the previous year, the company earned $0.71 EPS. As a group, sell-side analysts forecast that TC Energy Co. will post 3.06 EPS for the current year.

TC Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be paid a $0.702 dividend. This represents a $2.81 dividend on an annualized basis and a dividend yield of 5.91%. The ex-dividend date is Friday, September 27th. TC Energy’s dividend payout ratio (DPR) is currently 146.39%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday. StockNews.com assumed coverage on TC Energy in a research note on Saturday, October 5th. They issued a “hold” rating on the stock. Veritas upgraded TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. Barclays upgraded shares of TC Energy from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, July 17th. Finally, UBS Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $43.50.

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.