Prospera Financial Services Inc Raises Position in TC Energy Co. (NYSE:TRP)

Prospera Financial Services Inc raised its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 4.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,754 shares of the pipeline company’s stock after buying an additional 262 shares during the period. Prospera Financial Services Inc’s holdings in TC Energy were worth $274,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Signaturefd LLC increased its position in shares of TC Energy by 1.6% during the second quarter. Signaturefd LLC now owns 16,373 shares of the pipeline company’s stock worth $621,000 after purchasing an additional 261 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of TC Energy by 72.0% during the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after buying an additional 267 shares in the last quarter. Mesirow Financial Investment Management Inc. raised its position in shares of TC Energy by 4.5% in the third quarter. Mesirow Financial Investment Management Inc. now owns 9,175 shares of the pipeline company’s stock valued at $436,000 after buying an additional 393 shares during the last quarter. Souders Financial Advisors lifted its stake in shares of TC Energy by 0.5% in the third quarter. Souders Financial Advisors now owns 85,817 shares of the pipeline company’s stock worth $4,081,000 after buying an additional 396 shares in the last quarter. Finally, Stableford Capital II LLC boosted its position in TC Energy by 1.4% during the second quarter. Stableford Capital II LLC now owns 30,272 shares of the pipeline company’s stock worth $1,213,000 after acquiring an additional 422 shares during the last quarter. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on TRP shares. JPMorgan Chase & Co. upgraded shares of TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. BMO Capital Markets increased their price target on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. Veritas raised TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. Finally, StockNews.com assumed coverage on shares of TC Energy in a research report on Tuesday. They set a “hold” rating on the stock. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, TC Energy presently has an average rating of “Hold” and a consensus target price of $55.67.

TC Energy Price Performance

NYSE:TRP opened at $49.07 on Tuesday. TC Energy Co. has a 52 week low of $31.83 and a 52 week high of $50.37. The stock’s fifty day moving average is $47.27 and its two-hundred day moving average is $43.34. The company has a market capitalization of $50.93 billion, a P/E ratio of 13.59, a P/E/G ratio of 4.19 and a beta of 0.81. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.06. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. The firm had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.83 billion. Equities analysts expect that TC Energy Co. will post 2.98 EPS for the current year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.822 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.29 dividend on an annualized basis and a dividend yield of 6.70%. This is a boost from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s dividend payout ratio (DPR) is presently 78.95%.

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.