Sanctuary Advisors LLC Makes New $742,000 Investment in TC Energy Co. (NYSE:TRP)

Sanctuary Advisors LLC bought a new position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) during the 2nd quarter, HoldingsChannel reports. The fund bought 20,598 shares of the pipeline company’s stock, valued at approximately $742,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. EdgeRock Capital LLC acquired a new position in TC Energy in the second quarter valued at approximately $25,000. Creekmur Asset Management LLC acquired a new position in TC Energy during the fourth quarter worth $27,000. Whittier Trust Co. of Nevada Inc. lifted its stake in TC Energy by 138.8% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 429 shares in the last quarter. Mather Group LLC. purchased a new stake in shares of TC Energy during the second quarter worth $33,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of TC Energy during the second quarter worth $51,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Price Performance

Shares of TRP opened at $45.67 on Monday. The stock’s 50 day moving average is $45.44 and its two-hundred day moving average is $40.98. The firm has a market capitalization of $45.67 billion, a PE ratio of 23.54, a P/E/G ratio of 3.68 and a beta of 0.81. The company has a current ratio of 0.76, a quick ratio of 0.68 and a debt-to-equity ratio of 1.57. TC Energy Co. has a twelve month low of $33.47 and a twelve month high of $48.42.

TC Energy (NYSE:TRP) (TSE:TRP) last announced 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 return on equity of 16.97% and a net margin of 21.31%. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same quarter in the previous year, the company earned $0.71 EPS. Research analysts anticipate that TC Energy Co. will post 3.06 earnings per share for the current year.

TC Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be given a dividend of $0.702 per share. The ex-dividend date of this dividend 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 currently 146.39%.

Wall Street Analyst Weigh In

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

About TC Energy

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.