15,972 Shares in TC Energy Corporation $TRP Acquired by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. purchased a new position in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 15,972 shares of the pipeline company’s stock, valued at approximately $1,059,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. AQR Capital Management LLC increased its holdings in TC Energy by 54.0% in the first quarter. AQR Capital Management LLC now owns 11,099 shares of the pipeline company’s stock valued at $538,000 after buying an additional 3,892 shares during the last quarter. Focus Partners Wealth raised its stake in TC Energy by 46.1% in the first quarter. Focus Partners Wealth now owns 12,446 shares of the pipeline company’s stock valued at $588,000 after buying an additional 3,929 shares in the last quarter. Intech Investment Management LLC lifted its holdings in TC Energy by 200.7% during the 1st quarter. Intech Investment Management LLC now owns 26,878 shares of the pipeline company’s stock worth $1,269,000 after buying an additional 17,939 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in TC Energy by 50.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,706 shares of the pipeline company’s stock worth $181,000 after buying an additional 1,243 shares during the last quarter. Finally, Guggenheim Capital LLC boosted its position in shares of TC Energy by 9.9% during the 2nd quarter. Guggenheim Capital LLC now owns 16,758 shares of the pipeline company’s stock worth $818,000 after acquiring an additional 1,511 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TRP has been the topic of a number of recent analyst reports. Royal Bank Of Canada increased their price objective on TC Energy from $104.00 to $106.00 and gave the company an “outperform” rating in a report on Friday, July 31st. BMO Capital Markets restated an “outperform” rating and set a $99.00 target price 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. Morgan Stanley lowered shares of TC Energy from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, June 10th. Finally, TD Securities reissued a “hold” 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, eight have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $89.00.

TC Energy Stock Performance

NYSE TRP opened at $61.85 on Wednesday. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.61 and a quick ratio of 0.54. TC Energy Corporation has a 1 year low of $49.27 and a 1 year high of $71.47. The company has a market capitalization of $64.45 billion, a PE ratio of 25.67 and a beta of 0.66. The company has a fifty day moving average of $66.66 and a two-hundred day moving average of $65.32.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data 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. TC Energy had a return on equity of 11.10% and a net margin of 22.91%.The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same quarter last year, the company posted $0.82 earnings per share. As a group, analysts expect that TC Energy Corporation will post 2.78 earnings per share for the current year.

TC Energy Announces Dividend

The company 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 $0.8775 dividend. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.7%. TC Energy’s dividend payout ratio is 102.49%.

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.