9,563 Shares in TC Energy Corporation (NYSE:TRP) Purchased by Good Steward Wealth Advisors LLC

Good Steward Wealth Advisors LLC bought a new stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,563 shares of the pipeline company’s stock, valued at approximately $451,000.

Other hedge funds have also made changes to their positions in the company. Lowe Wealth Advisors LLC purchased a new stake in shares of TC Energy during the first quarter worth approximately $30,000. SBI Securities Co. Ltd. acquired a new stake in TC Energy during the 4th quarter worth $31,000. Synergy Investment Management LLC acquired a new stake in TC Energy during the 4th quarter worth $36,000. Millstone Evans Group LLC purchased a new stake in shares of TC Energy during the fourth quarter worth $41,000. Finally, First Command Advisory Services Inc. acquired a new stake in shares of TC Energy in the fourth quarter valued at about $46,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TRP. Cibc World Mkts upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 2nd. Citigroup began coverage on shares of TC Energy in a research note on Friday, April 4th. They issued a “neutral” rating on the stock. CIBC upgraded TC Energy from a “neutral” rating to a “sector outperform” rating in a report on Friday, May 2nd. Finally, Wall Street Zen lowered TC Energy from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $62.00.

TC Energy Stock Performance

TC Energy stock opened at $47.75 on Friday. The firm has a 50 day simple moving average of $49.65 and a 200-day simple moving average of $47.69. The stock has a market cap of $49.64 billion, a price-to-earnings ratio of 15.76, a price-to-earnings-growth ratio of 4.59 and a beta of 0.78. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.70 and a quick ratio of 0.63. TC Energy Corporation has a 1-year low of $37.07 and a 1-year high of $51.99.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Thursday, May 1st. The pipeline company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.04). The business had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $2.57 billion. TC Energy had a return on equity of 11.41% and a net margin of 29.17%. During the same quarter in the previous year, the company posted $1.02 earnings per share. On average, analysts expect that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a dividend of $0.6142 per share. This represents a $2.46 dividend on an annualized basis and a dividend yield of 5.15%. The ex-dividend date is Monday, June 30th. TC Energy’s dividend payout ratio is presently 77.89%.

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.