EP Wealth Advisors LLC Takes $819,000 Position in TC Energy Corporation $TRP

EP Wealth Advisors LLC acquired a new stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 12,348 shares of the pipeline company’s stock, valued at approximately $819,000.

A number of other hedge funds have also recently bought and sold shares of the company. Ieq Capital LLC acquired a new position in TC Energy in the 2nd quarter valued at $1,483,000. Callan Family Office LLC purchased a new position in shares of TC Energy during the 2nd quarter worth $305,000. Allworth Financial LP acquired a new stake in shares of TC Energy during the second quarter worth $152,000. Kayne Anderson Capital Advisors LP acquired a new stake in shares of TC Energy during the second quarter worth $260,024,000. Finally, Ninepoint Partners LP acquired a new stake in shares of TC Energy during the second quarter worth $7,394,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Stock Performance

Shares of NYSE:TRP opened at $62.04 on Monday. The firm has a market capitalization of $64.64 billion, a PE ratio of 25.74 and a beta of 0.66. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.61 and a quick ratio of 0.54. The business has a 50-day moving average of $66.95 and a two-hundred day moving average of $65.29. TC Energy Corporation has a 12 month low of $49.27 and a 12 month high of $71.47.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Thursday, July 30th. The pipeline company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.07. TC Energy had a return on equity of 11.10% and a net margin of 22.91%.The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same period in the previous year, the company posted $0.82 EPS. As a group, research analysts forecast that TC Energy Corporation will post 2.78 earnings per share for the current year.

TC Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Tuesday, September 29th will be issued a $0.8775 dividend. The ex-dividend date is Tuesday, September 29th. This represents a $3.51 annualized dividend and a yield of 5.7%. TC Energy’s dividend payout ratio (DPR) is presently 102.49%.

Analysts Set New Price Targets

Several research firms recently commented on TRP. Royal Bank Of Canada upped their target price on TC Energy from $104.00 to $106.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Barclays reissued an “overweight” rating on shares of TC Energy in a research note on Thursday, July 16th. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a report on Thursday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of TC Energy in a research note on Friday, July 31st. Finally, TD Securities reissued a “hold” rating on shares of TC Energy in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $89.00.

TC Energy 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.