Spirit of America Management Corp NY Acquires 3,900 Shares of TC Energy Co. (NYSE:TRP)

Spirit of America Management Corp NY boosted its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 5.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 73,828 shares of the pipeline company’s stock after acquiring an additional 3,900 shares during the period. Spirit of America Management Corp NY’s holdings in TC Energy were worth $3,511,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Blue Trust Inc. raised its stake in TC Energy by 72.0% in the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after acquiring an additional 267 shares during the period. EdgeRock Capital LLC bought a new stake in TC Energy in the 2nd quarter valued at $25,000. Whittier Trust Co. of Nevada Inc. raised its stake in TC Energy by 138.8% in the 2nd 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 during the period. Mather Group LLC. bought a new stake in TC Energy in the 2nd quarter valued at $33,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in TC Energy in the 2nd quarter valued at $51,000. Institutional investors own 83.13% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on TRP. JPMorgan Chase & Co. upgraded TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. The Goldman Sachs Group increased their price objective on TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research report on Monday. UBS Group upgraded TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. StockNews.com began coverage on TC Energy in a research report on Saturday, October 5th. They set a “hold” rating on the stock. Finally, Veritas upgraded TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $48.50.

TC Energy Stock Performance

TRP opened at $46.99 on Friday. The firm has a market cap of $48.77 billion, a P/E ratio of 19.26, a price-to-earnings-growth ratio of 3.92 and a beta of 0.81. TC Energy Co. has a 52-week low of $30.61 and a 52-week high of $48.25. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.68 and a current ratio of 0.76. The business’s fifty day moving average is $46.08 and its 200-day moving average is $41.40.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.29. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.78 billion. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. During the same period in the prior year, the firm posted $0.71 EPS. Sell-side analysts expect that TC Energy Co. will post 3.02 EPS for the current fiscal year.

TC Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be paid a $0.702 dividend. This represents a $2.81 annualized dividend and a yield of 5.98%. The ex-dividend date of this dividend is Friday, September 27th. TC Energy’s dividend payout ratio (DPR) is presently 116.80%.

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.