Atlanta Consulting Group Advisors LLC Acquires Shares of 18,598 TC Energy Co. (NYSE:TRP)

Atlanta Consulting Group Advisors LLC acquired a new position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 18,598 shares of the pipeline company’s stock, valued at approximately $884,000.

Several other hedge funds and other institutional investors also recently modified their holdings of TRP. Fortitude Family Office LLC acquired a new stake in shares of TC Energy during the third quarter worth $28,000. Blue Trust Inc. lifted its stake in shares of TC Energy by 72.0% in the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after acquiring an additional 267 shares during the period. EdgeRock Capital LLC purchased a new stake in shares of TC Energy in the second quarter valued at about $25,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of TC Energy by 138.8% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 429 shares in the last quarter. Finally, Mather Group LLC. acquired a new position in shares of TC Energy during the second quarter worth about $33,000. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

TC Energy Stock Performance

Shares of TRP stock opened at $48.99 on Friday. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31. The stock has a market cap of $50.84 billion, a PE ratio of 13.57, a P/E/G ratio of 4.12 and a beta of 0.81. TC Energy Co. has a 1 year low of $31.83 and a 1 year high of $50.22. The stock has a fifty day moving average price of $46.87 and a 200 day moving average price of $42.78.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. The firm had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. Sell-side analysts forecast that TC Energy Co. will post 2.98 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.822 per share. This represents a $3.29 dividend on an annualized basis and a dividend yield of 6.71%. This is a boost from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, December 31st. TC Energy’s dividend payout ratio (DPR) is 78.95%.

Analyst Ratings Changes

TRP has been the topic of a number of analyst reports. Veritas raised TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. UBS Group upgraded TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. The Goldman Sachs Group boosted their target price on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research report on Monday, October 21st. Finally, StockNews.com began coverage on shares of TC Energy in a report on Saturday, October 5th. They issued a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $48.50.

About TC Energy

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through five segments: Canadian Natural Gas Pipelines; U.S. Natural Gas Pipelines; Mexico Natural Gas Pipelines; Liquids Pipelines; and Power and Energy Solutions. The company builds and operates a network of 93,600 kilometers of natural gas pipelines, which transports natural gas from supply basins to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other businesses.