Legacy Wealth Asset Management LLC Acquires 11,563 Shares of TC Energy Corporation $TRP

Legacy Wealth Asset Management LLC acquired a new stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 11,563 shares of the pipeline company’s stock, valued at approximately $668,000.

Other hedge funds also recently made changes to their positions in the company. Chickasaw Capital Management LLC lifted its position in shares of TC Energy by 2,473.7% in the 3rd quarter. Chickasaw Capital Management LLC now owns 200,849 shares of the pipeline company’s stock worth $11,605,000 after buying an additional 193,045 shares during the last quarter. QRG Capital Management Inc. boosted its stake in TC Energy by 27.8% during the 2nd quarter. QRG Capital Management Inc. now owns 5,506 shares of the pipeline company’s stock valued at $365,000 after purchasing an additional 1,197 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in TC Energy by 1.1% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 22,946 shares of the pipeline company’s stock worth $1,519,000 after purchasing an additional 257 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of TC Energy by 39.9% during the second quarter. Envestnet Asset Management Inc. now owns 1,878,251 shares of the pipeline company’s stock valued at $124,481,000 after buying an additional 535,279 shares during the last quarter. Finally, Wellington Altus USA Inc. grew its holdings in TC Energy by 24.1% in the 2nd quarter. Wellington Altus USA Inc. now owns 5,255 shares of the pipeline company’s stock worth $351,000 after buying an additional 1,020 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Price Performance

Shares of NYSE TRP opened at $60.07 on Friday. The firm has a market cap of $60.07 billion, a P/E ratio of 24.92 and a beta of 0.70. TC Energy Corporation has a 1-year low of $49.27 and a 1-year high of $71.47. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.64. The business’s 50 day moving average is $61.76 and its 200-day moving average is $64.84.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Thursday, July 30th. The pipeline company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.07. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates 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 business posted $0.82 EPS. Equities research analysts predict that TC Energy Corporation will post 2.78 earnings per share for the current year.

TC Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Tuesday, September 29th will be given a C$0.88 dividend. The ex-dividend date is Tuesday, September 29th. This represents a $3.51 annualized dividend and a yield of 5.8%. TC Energy’s payout ratio is 104.98%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TRP shares. Weiss Ratings reissued a “buy (b)” rating on shares of TC Energy in a research note on Friday, July 31st. US Capital Advisors raised TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Thursday, August 20th. The Goldman Sachs Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating and set a $71.00 price target for the company in a research note on Wednesday, September 30th. Jefferies Financial Group raised TC Energy from a “hold” rating to a “buy” rating in a report on Tuesday, September 1st. Finally, Barclays reaffirmed an “overweight” rating on shares of TC Energy in a report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $92.00.

TC Energy Profile

TC Energy Corporation is an energy infrastructure company that develops and operates natural gas pipeline, storage and power-generation assets. Its pipeline network transports natural gas from producing regions to utilities, industrial customers, power generators and export markets, while its storage facilities help support seasonal and daily demand.

The company’s operations are concentrated in Canada, the United States and Mexico. Its major systems include the Canadian Mainline, which connects Western Canadian natural gas supplies with markets in Eastern Canada and the United States, as well as U.S.