Kingsview Wealth Management LLC Has $286,000 Stock Holdings in TC Energy Co. (NYSE:TRP)

Kingsview Wealth Management LLC lifted its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 44.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 6,157 shares of the pipeline company’s stock after buying an additional 1,906 shares during the quarter. Kingsview Wealth Management LLC’s holdings in TC Energy were worth $286,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Captrust Financial Advisors raised its stake in TC Energy by 1.3% in the 3rd quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock worth $871,000 after purchasing an additional 242 shares in the last quarter. Prospera Financial Services Inc raised its stake in TC Energy by 4.8% in the 3rd quarter. Prospera Financial Services Inc now owns 5,754 shares of the pipeline company’s stock worth $274,000 after purchasing an additional 262 shares in the last quarter. First Horizon Advisors Inc. raised its stake in TC Energy by 8.1% in the 3rd quarter. First Horizon Advisors Inc. now owns 3,505 shares of the pipeline company’s stock worth $167,000 after purchasing an additional 264 shares in the last quarter. 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 worth $30,000 after purchasing an additional 267 shares in the last quarter. Finally, Cohen Investment Advisors LLC raised its stake in TC Energy by 2.9% in the 4th quarter. Cohen Investment Advisors LLC now owns 9,831 shares of the pipeline company’s stock worth $457,000 after purchasing an additional 279 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

Wall Street Analysts Forecast Growth

TRP has been the subject of several analyst reports. StockNews.com initiated coverage on shares of TC Energy in a research note on Wednesday, December 4th. They issued a “hold” rating for the company. TD Securities began coverage on shares of TC Energy in a research report on Wednesday, January 15th. They issued a “buy” rating for the company. The Goldman Sachs Group boosted their target price on shares of TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research report on Monday, October 21st. BMO Capital Markets boosted their target price on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research report on Wednesday, November 20th. Finally, Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $56.00.

TC Energy Trading Down 2.8 %

TRP opened at $46.05 on Friday. TC Energy Co. has a fifty-two week low of $31.83 and a fifty-two week high of $50.37. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23. The firm has a market capitalization of $47.85 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 4.45 and a beta of 0.81. The company’s 50 day moving average price is $46.65 and its two-hundred day moving average price is $46.49.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.54. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. During the same quarter last year, the business posted $1.35 EPS. As a group, research analysts predict that TC Energy Co. will post 2.92 earnings per share for the current year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.38%. This is an increase from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s payout ratio is 63.43%.

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.