Baskin Financial Services Inc. Buys Shares of 5,935 TC Energy Co. (NYSE:TRP)

by · The Cerbat Gem

Baskin Financial Services Inc. bought a new stake in TC Energy Co. (NYSE:TRP – Free Report) (TSE:TRP) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,935 shares of the pipeline company’s stock, valued at approximately $282,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Signaturefd LLC lifted its stake in TC Energy by 1.6% in the 2nd quarter. Signaturefd LLC now owns 16,373 shares of the pipeline company’s stock worth $621,000 after acquiring an additional 261 shares in the last quarter. New Hampshire Trust boosted its holdings in shares of TC Energy by 3.8% during the first quarter. New Hampshire Trust now owns 7,263 shares of the pipeline company’s stock worth $292,000 after purchasing an additional 269 shares during the period. Windsor Advisory Group LLC increased its stake in TC Energy by 2.5% in the 1st quarter. Windsor Advisory Group LLC now owns 12,831 shares of the pipeline company’s stock valued at $516,000 after buying an additional 316 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in TC Energy by 2.3% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 15,005 shares of the pipeline company’s stock valued at $604,000 after buying an additional 332 shares during the period. Finally, Mount Yale Investment Advisors LLC lifted its position in TC Energy by 1.9% in the 1st quarter. Mount Yale Investment Advisors LLC now owns 19,873 shares of the pipeline company’s stock worth $799,000 after buying an additional 364 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Stock Performance

TRP traded up $0.71 on Wednesday, hitting $47.51. The company had a trading volume of 460,522 shares, compared to its average volume of 3,240,965. The stock has a market cap of $47.51 billion, a price-to-earnings ratio of 24.13, a price-to-earnings-growth ratio of 3.68 and a beta of 0.81. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.76 and a quick ratio of 0.68. The company’s fifty day moving average price is $45.61 and its 200 day moving average price is $41.07. TC Energy Co. has a 1-year low of $30.48 and a 1-year high of $47.51.

TC Energy (NYSE:TRP – Get Free Report) (TSE:TRP) last issued its quarterly earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.29. The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.78 billion. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. During the same period last year, the business posted $0.71 earnings per share. Equities analysts predict that TC Energy Co. will post 3.06 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be given a dividend of $0.702 per share. This represents a $2.81 dividend on an annualized basis and a yield of 5.91%. The ex-dividend date is Friday, September 27th. TC Energy’s dividend payout ratio (DPR) is presently 146.39%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on TRP shares. JPMorgan Chase & Co. raised shares of TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday. UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. Veritas upgraded TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. StockNews.com began coverage on TC Energy in a research note on Saturday, October 5th. They issued a “hold” rating for the company. Finally, Barclays raised shares of TC Energy from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $43.50.

Get Our Latest Stock Report on TRP

TC Energy Profile

(Free Report)

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.

Featured Articles