Northwestern Mutual Wealth Management Co. Makes New Investment in TC Energy Corporation $TRP

Northwestern Mutual Wealth Management Co. purchased a new stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 15,972 shares of the pipeline company’s stock, valued at approximately $1,059,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Groupe la Francaise boosted its position in shares of TC Energy by 2.1% during the 1st quarter. Groupe la Francaise now owns 7,352 shares of the pipeline company’s stock worth $459,000 after purchasing an additional 154 shares during the period. Wealthstar Advisors LLC raised its position in TC Energy by 1.5% in the first quarter. Wealthstar Advisors LLC now owns 11,465 shares of the pipeline company’s stock valued at $718,000 after purchasing an additional 165 shares during the period. Nations Financial Group Inc. IA ADV raised its position in TC Energy by 5.7% in the first quarter. Nations Financial Group Inc. IA ADV now owns 3,911 shares of the pipeline company’s stock valued at $245,000 after purchasing an additional 210 shares during the period. Arax Advisory Partners raised its position in TC Energy by 7.9% in the fourth quarter. Arax Advisory Partners now owns 3,029 shares of the pipeline company’s stock valued at $167,000 after purchasing an additional 221 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in TC Energy by 5.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 4,223 shares of the pipeline company’s stock worth $232,000 after purchasing an additional 232 shares in the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Stock Performance

Shares of TRP stock opened at $61.85 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.64. TC Energy Corporation has a 52 week low of $49.27 and a 52 week high of $71.47. The stock has a market capitalization of $64.45 billion, a PE ratio of 25.67 and a beta of 0.66. The firm has a 50 day moving average of $66.66 and a two-hundred day moving average of $65.32.

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

TC Energy Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on TRP shares. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Thursday, August 20th. Royal Bank Of Canada boosted their price objective on TC Energy from $104.00 to $106.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Weiss Ratings reissued a “buy (b)” rating on shares of TC Energy in a research note on Friday, July 31st. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of TC Energy in a report on Tuesday, May 26th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $99.00 target price on shares of TC Energy in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $89.00.

TC Energy Company 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.