Wiser Advisor Group LLC Purchases Shares of 7,997 TC Energy Co. (NYSE:TRP)

Wiser Advisor Group LLC acquired a new position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 7,997 shares of the pipeline company’s stock, valued at approximately $380,000.

A number of other institutional investors and hedge funds have also modified their holdings of TRP. Cetera Investment Advisers raised its stake in shares of TC Energy by 74.1% in the 1st quarter. Cetera Investment Advisers now owns 98,729 shares of the pipeline company’s stock valued at $3,972,000 after buying an additional 42,024 shares in the last quarter. CIBC Asset Management Inc lifted its stake in TC Energy by 2.6% during the second quarter. CIBC Asset Management Inc now owns 8,515,086 shares of the pipeline company’s stock worth $322,584,000 after purchasing an additional 214,689 shares during the period. Harvest Portfolios Group Inc. boosted its holdings in TC Energy by 107.7% during the third quarter. Harvest Portfolios Group Inc. now owns 226,007 shares of the pipeline company’s stock valued at $10,743,000 after purchasing an additional 117,176 shares in the last quarter. Metis Global Partners LLC grew its stake in shares of TC Energy by 16.3% in the 3rd quarter. Metis Global Partners LLC now owns 95,470 shares of the pipeline company’s stock valued at $4,538,000 after purchasing an additional 13,368 shares during the period. Finally, Legal & General Group Plc raised its holdings in shares of TC Energy by 4.1% in the 2nd quarter. Legal & General Group Plc now owns 11,892,999 shares of the pipeline company’s stock worth $450,749,000 after buying an additional 467,497 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TRP. UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. StockNews.com began coverage on shares of TC Energy in a research report on Monday, November 18th. They set a “hold” rating for the company. JPMorgan Chase & Co. upgraded shares of TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. The Goldman Sachs Group lifted their price target on TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a report on Monday, October 21st. Finally, Veritas upgraded shares of TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, TC Energy currently has an average rating of “Hold” and a consensus target price of $55.67.

TC Energy Trading Down 0.3 %

TRP stock traded down $0.17 during midday trading on Monday, hitting $49.68. 72,987 shares of the company’s stock were exchanged, compared to its average volume of 3,051,880. TC Energy Co. has a one year low of $31.83 and a one year high of $50.37. The stock’s fifty day moving average price is $47.22 and its 200-day moving average price is $43.26. The company has a market cap of $51.57 billion, a PE ratio of 13.81, a price-to-earnings-growth ratio of 4.19 and a beta of 0.81. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31.

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

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.822 per share. This is an increase from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.29 annualized dividend and a dividend yield of 6.62%. TC Energy’s dividend payout ratio is currently 78.95%.

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.