Good Steward Wealth Advisors LLC Sells 4,570 Shares of TC Energy Corporation $TRP

Good Steward Wealth Advisors LLC trimmed its holdings in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 47.8% in the second quarter, Holdings Channel.com reports. The fund owned 4,993 shares of the pipeline company’s stock after selling 4,570 shares during the quarter. Good Steward Wealth Advisors LLC’s holdings in TC Energy were worth $244,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TRP. Focus Partners Wealth lifted its holdings in shares of TC Energy by 10.5% during the 4th quarter. Focus Partners Wealth now owns 8,517 shares of the pipeline company’s stock worth $396,000 after acquiring an additional 808 shares during the period. Nomura Holdings Inc. bought a new position in TC Energy during the 4th quarter valued at about $267,000. Quantinno Capital Management LP lifted its holdings in TC Energy by 21.7% during the 4th quarter. Quantinno Capital Management LP now owns 27,800 shares of the pipeline company’s stock valued at $1,294,000 after purchasing an additional 4,955 shares during the last quarter. State of Wyoming lifted its holdings in TC Energy by 126.8% during the 4th quarter. State of Wyoming now owns 10,250 shares of the pipeline company’s stock valued at $477,000 after purchasing an additional 5,730 shares during the last quarter. Finally, Twinbeech Capital LP bought a new position in TC Energy during the 4th quarter valued at about $558,000. 83.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

TRP has been the subject of several analyst reports. US Capital Advisors downgraded shares of TC Energy from a “moderate buy” rating to a “hold” rating in a report on Thursday, August 21st. Wall Street Zen raised shares of TC Energy from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Barclays reissued an “overweight” rating on shares of TC Energy in a report on Thursday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, TC Energy has an average rating of “Moderate Buy” and an average target price of $62.00.

TC Energy Stock Up 0.4%

Shares of NYSE TRP opened at $52.31 on Friday. The firm has a market capitalization of $54.39 billion, a PE ratio of 17.85, a price-to-earnings-growth ratio of 4.99 and a beta of 0.77. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.54. TC Energy Corporation has a 1 year low of $40.76 and a 1 year high of $52.49. The firm’s 50-day moving average is $49.68 and its 200-day moving average is $48.88.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Thursday, July 31st. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.03. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $2.56 billion. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. During the same quarter last year, the firm earned $0.79 EPS. Equities analysts expect that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be paid a $0.6148 dividend. This is a boost from TC Energy’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Monday, September 29th. This represents a $2.46 annualized dividend and a dividend yield of 4.7%. TC Energy’s payout ratio is 83.62%.

TC Energy Company 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.