Harrison Street Private Wealth LLC Invests $3.79 Million in TC Energy Corporation $TRP

Harrison Street Private Wealth LLC bought a new position in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) during the first quarter, HoldingsChannel.com reports. The firm bought 60,690 shares of the pipeline company’s stock, valued at approximately $3,788,000. TC Energy makes up about 5.0% of Harrison Street Private Wealth LLC’s portfolio, making the stock its 9th biggest position.

Other institutional investors and hedge funds also recently modified their holdings of the company. Massachusetts Financial Services Co. MA raised its position in shares of TC Energy by 80.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 526,181 shares of the pipeline company’s stock worth $28,945,000 after purchasing an additional 234,594 shares during the period. Capital Research Global Investors grew its stake in TC Energy by 2.5% in the third quarter. Capital Research Global Investors now owns 41,977,582 shares of the pipeline company’s stock valued at $2,282,469,000 after purchasing an additional 1,041,864 shares in the last quarter. Vanguard Group Inc. grew its position in shares of TC Energy by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 47,801,695 shares of the pipeline company’s stock valued at $2,632,200,000 after acquiring an additional 980,221 shares during the period. Generali Asset Management SPA SGR increased its position in TC Energy by 261.0% during the fourth quarter. Generali Asset Management SPA SGR now owns 74,906 shares of the pipeline company’s stock worth $4,121,000 after buying an additional 54,154 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of TC Energy by 7.2% in the third quarter. Van ECK Associates Corp now owns 431,403 shares of the pipeline company’s stock valued at $23,457,000 after buying an additional 28,955 shares during the last quarter. 83.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TRP has been the topic of a number of research analyst reports. The Goldman Sachs Group upgraded TC Energy from a “sell” rating to a “neutral” rating and increased their price target for the company from $53.00 to $62.00 in a research note on Monday, April 20th. BMO Capital Markets reiterated an “outperform” rating on shares of TC Energy in a report on Monday, May 4th. Weiss Ratings downgraded shares of TC Energy from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 4th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of TC Energy in a research report on Tuesday, May 26th. Finally, TD Securities reaffirmed a “hold” rating on shares of TC Energy in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.50.

TC Energy Stock Performance

TRP opened at $66.37 on Friday. The business has a fifty day simple moving average of $67.35 and a 200 day simple moving average of $62.47. The company has a market capitalization of $69.15 billion, a PE ratio of 28.81 and a beta of 0.66. TC Energy Corporation has a 1 year low of $46.29 and a 1 year high of $71.47. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.65 and a quick ratio of 0.57.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Friday, May 1st. The pipeline company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.20 billion. TC Energy had a return on equity of 10.74% and a net margin of 22.22%.During the same period in the prior year, the firm posted $0.95 EPS. Research analysts expect that TC Energy Corporation will post 2.75 EPS for the current year.

TC Energy Dividend Announcement

The firm 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 $0.8775 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $3.51 annualized dividend and a dividend yield of 5.3%. TC Energy’s dividend payout ratio is 110.43%.

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.