Ritholtz Wealth Management Invests $787,000 in TC Energy Co. (NYSE:TRP)

Ritholtz Wealth Management purchased a new stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 16,545 shares of the pipeline company’s stock, valued at approximately $787,000.

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

Analysts Set New Price Targets

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

TC Energy Trading Up 2.4 %

Shares of TRP opened at $46.79 on Tuesday. 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 firm has a 50-day moving average price of $45.53 and a 200 day moving average price of $41.03. TC Energy Co. has a 12-month low of $33.47 and a 12-month high of $48.42. The firm has a market capitalization of $46.79 billion, a P/E ratio of 24.12, a P/E/G ratio of 3.68 and a beta of 0.81.

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, beating 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 prior year, the company posted $0.71 EPS. Sell-side analysts forecast that TC Energy Co. will post 3.06 EPS for the current year.

TC Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be paid a dividend of $0.702 per share. This represents a $2.81 annualized dividend and a yield of 6.00%. The ex-dividend date of this dividend is Friday, September 27th. TC Energy’s payout ratio is currently 146.39%.

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.