Janney Montgomery Scott LLC Has $4 Million Holdings in TC Energy Corporation $TRP

Janney Montgomery Scott LLC trimmed its position in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 47.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 60,419 shares of the pipeline company’s stock after selling 53,711 shares during the quarter. Janney Montgomery Scott LLC’s holdings in TC Energy were worth $4,005,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of TRP. Sterling Capital Management LLC acquired a new position in shares of TC Energy in the 1st quarter worth approximately $26,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in TC Energy during the 4th quarter worth approximately $25,000. McIlrath & Eck LLC acquired a new stake in TC Energy during the 4th quarter valued at $32,000. SWAN Capital LLC acquired a new stake in TC Energy during the 3rd quarter valued at $40,000. Finally, Ascentis Independent Advisors bought a new position in TC Energy in the 1st quarter valued at $49,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Stock Performance

TRP stock opened at $64.00 on Friday. The company has a 50 day moving average price of $67.53 and a 200 day moving average price of $65.06. TC Energy Corporation has a fifty-two week low of $49.27 and a fifty-two week high of $71.47. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.61 and a quick ratio of 0.54. The stock has a market capitalization of $66.68 billion, a PE ratio of 26.56 and a beta of 0.66.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Thursday, July 30th. The pipeline company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.07. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.76 billion. TC Energy had a return on equity of 11.10% and a net margin of 22.91%.During the same period last year, the company earned $0.82 EPS. Analysts forecast that TC Energy Corporation will post 2.75 EPS for the current year.

TC Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Tuesday, September 29th will be paid a dividend of $0.8775 per share. This represents a $3.51 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Tuesday, September 29th. TC Energy’s dividend payout ratio is 102.49%.

Analyst Ratings Changes

TRP has been the topic of a number of recent analyst reports. TD Securities reissued a “hold” rating on shares of TC Energy in a research note on Thursday, July 16th. Weiss Ratings restated a “buy (b)” rating on shares of TC Energy in a research note on Friday, July 31st. Barclays reaffirmed an “overweight” rating on shares of TC Energy in a report on Thursday, July 16th. BMO Capital Markets reiterated an “outperform” rating and set a $99.00 price target on shares of TC Energy in a research report on Friday, July 31st. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of TC Energy in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.00.

TC Energy 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.