23,502 Shares in TC Energy Corporation $TRP Bought by Burney Co.

Burney Co. bought a new stake in TC Energy Corporation (NYSE:TRP) (TSE:TRP) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 23,502 shares of the pipeline company’s stock, valued at approximately $1,471,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC purchased a new position in TC Energy in the fourth quarter valued at approximately $25,000. Sterling Capital Management LLC acquired a new position in TC Energy during the first quarter valued at approximately $26,000. Trust Co. of Vermont purchased a new stake in TC Energy during the fourth quarter worth approximately $28,000. McIlrath & Eck LLC purchased a new stake in TC Energy during the fourth quarter worth approximately $32,000. Finally, SWAN Capital LLC acquired a new stake in shares of TC Energy in the third quarter worth $40,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Stock Up 0.2%

Shares of NYSE:TRP opened at $68.97 on Thursday. The company has a market capitalization of $71.86 billion, a price-to-earnings ratio of 29.93 and a beta of 0.66. The company has a 50 day moving average of $67.87 and a two-hundred day moving average of $62.85. TC Energy Corporation has a 52-week low of $46.29 and a 52-week high of $71.47. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 1.67.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Friday, May 1st. The pipeline company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. The business had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.20 billion. TC Energy had a net margin of 22.22% and a return on equity of 10.74%. During the same period in the previous year, the company posted $0.95 earnings per share. As a group, analysts forecast that TC Energy Corporation will post 2.73 earnings per share for the current fiscal year.

TC Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be paid a dividend of $0.8775 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.51 annualized dividend and a yield of 5.1%. TC Energy’s payout ratio is 107.39%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of TC Energy in a research note on Tuesday, May 26th. Weiss Ratings cut shares of TC Energy from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 4th. National Bank Financial upgraded TC Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, May 4th. BMO Capital Markets reissued an “outperform” rating on shares of TC Energy in a research report on Monday, May 4th. Finally, The Goldman Sachs Group upgraded TC Energy from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $53.00 to $62.00 in a research note on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, TC Energy currently has an average rating of “Moderate Buy” and an average price target of $78.50.

TC Energy Company Profile

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.