TC Energy Corporation $TRP Shares Sold by Parr Mcknight Wealth Management Group LLC

Parr Mcknight Wealth Management Group LLC lessened its stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 25.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,532 shares of the pipeline company’s stock after selling 10,955 shares during the quarter. Parr Mcknight Wealth Management Group LLC’s holdings in TC Energy were worth $2,157,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Groupe la Francaise increased its position in shares of TC Energy by 2.1% during the first quarter. Groupe la Francaise now owns 7,352 shares of the pipeline company’s stock valued at $459,000 after acquiring an additional 154 shares during the last quarter. Wealthstar Advisors LLC lifted its holdings in shares of TC Energy by 1.5% in the 1st quarter. Wealthstar Advisors LLC now owns 11,465 shares of the pipeline company’s stock worth $718,000 after acquiring an additional 165 shares during the last quarter. Gold Investment Management Ltd. boosted its position in shares of TC Energy by 2.0% during the 4th quarter. Gold Investment Management Ltd. now owns 9,964 shares of the pipeline company’s stock worth $549,000 after purchasing an additional 200 shares during the period. Nations Financial Group Inc. IA ADV boosted its position in shares of TC Energy by 5.7% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 3,911 shares of the pipeline company’s stock worth $245,000 after purchasing an additional 210 shares during the period. Finally, Arax Advisory Partners boosted its position in shares of TC Energy by 7.9% during the 4th quarter. Arax Advisory Partners now owns 3,029 shares of the pipeline company’s stock worth $167,000 after purchasing an additional 221 shares during the period. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TRP. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of TC Energy in a research report on Tuesday, May 26th. Scotiabank restated an “outperform” rating on shares of TC Energy in a research report on Tuesday, July 21st. BMO Capital Markets restated an “outperform” rating and set a $99.00 price target on shares of TC Energy in a research report on Friday, July 31st. National Bank Financial raised TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 4th. Finally, TD Securities reiterated a “hold” rating on shares of TC Energy in a report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $89.00.

TC Energy Price Performance

Shares of TRP opened at $64.00 on Friday. The company has a market cap of $66.68 billion, a P/E ratio of 26.56 and a beta of 0.66. 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 quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.64. The firm’s 50 day moving average price is $67.53 and its 200 day moving average price is $65.06.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Thursday, July 30th. The pipeline company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.61 by $0.07. The company had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.76 billion. TC Energy had a net margin of 22.91% and a return on equity of 11.10%. During the same quarter last year, the company posted $0.82 EPS. On average, research analysts forecast that TC Energy Corporation will post 2.75 earnings per share for the current fiscal year.

TC Energy Dividend Announcement

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

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.