Lorne Steinberg Wealth Management Inc. Increases Stock Holdings in TC Energy Corporation $TRP

Lorne Steinberg Wealth Management Inc. boosted its holdings in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 1.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 183,456 shares of the pipeline company’s stock after acquiring an additional 2,738 shares during the quarter. TC Energy accounts for 2.3% of Lorne Steinberg Wealth Management Inc.’s portfolio, making the stock its 15th biggest holding. Lorne Steinberg Wealth Management Inc.’s holdings in TC Energy were worth $8,962,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Park Avenue Securities LLC lifted its holdings in shares of TC Energy by 2.3% in the 2nd quarter. Park Avenue Securities LLC now owns 9,947 shares of the pipeline company’s stock worth $485,000 after buying an additional 225 shares during the period. Gold Investment Management Ltd. increased its holdings in shares of TC Energy by 2.5% in the second quarter. Gold Investment Management Ltd. now owns 9,656 shares of the pipeline company’s stock valued at $471,000 after purchasing an additional 232 shares during the period. Baader Bank Aktiengesellschaft increased its holdings in shares of TC Energy by 4.4% in the first quarter. Baader Bank Aktiengesellschaft now owns 6,325 shares of the pipeline company’s stock valued at $289,000 after purchasing an additional 264 shares during the period. Compound Planning Inc. boosted its stake in shares of TC Energy by 2.1% in the first quarter. Compound Planning Inc. now owns 13,806 shares of the pipeline company’s stock worth $652,000 after buying an additional 288 shares during the last quarter. Finally, Prudential PLC boosted its stake in shares of TC Energy by 5.2% in the first quarter. Prudential PLC now owns 6,536 shares of the pipeline company’s stock worth $309,000 after buying an additional 326 shares during the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Trading Up 0.0%

Shares of TC Energy stock opened at $51.47 on Monday. TC Energy Corporation has a fifty-two week low of $43.51 and a fifty-two week high of $55.37. The firm has a market cap of $53.54 billion, a PE ratio of 17.57, a P/E/G ratio of 4.84 and a beta of 0.75. The business’s fifty day moving average is $52.27 and its two-hundred day moving average is $49.93. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.54.

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

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 29th will be paid a dividend of $0.6148 per share. This is an increase 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 dividend on an annualized basis and a dividend yield of 4.8%. TC Energy’s dividend payout ratio (DPR) is 84.30%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Cibc World Mkts downgraded TC Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. Barclays reiterated an “overweight” rating on shares of TC Energy in a report on Tuesday, October 14th. Wall Street Zen downgraded TC Energy from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. TD Securities reaffirmed a “buy” rating on shares of TC Energy in a report on Friday. Finally, US Capital Advisors downgraded TC Energy from a “moderate buy” rating to a “hold” rating in a report on Thursday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, TC Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

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.