Spirit of America Management Corp NY Has $3.51 Million Position in TC Energy Co. (NYSE:TRP)

Spirit of America Management Corp NY raised its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 5.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 73,828 shares of the pipeline company’s stock after buying an additional 3,900 shares during the quarter. Spirit of America Management Corp NY’s holdings in TC Energy were worth $3,511,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Blue Trust Inc. grew its position in shares of TC Energy by 72.0% during the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after buying an additional 267 shares during the period. EdgeRock Capital LLC acquired a new position in shares of TC Energy during the 2nd quarter worth about $25,000. Whittier Trust Co. of Nevada Inc. grew its position in shares of 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 purchasing an additional 429 shares during the period. Mather Group LLC. acquired a new position in shares of TC Energy in the 2nd quarter valued at approximately $33,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of TC Energy in the 2nd quarter valued at approximately $51,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

TC Energy Trading Up 0.1 %

NYSE:TRP opened at $46.99 on Friday. TC Energy Co. has a twelve month low of $30.61 and a twelve month high of $48.25. The company 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. The company has a quick ratio of 0.68, a current ratio of 0.76 and a debt-to-equity ratio of 1.57. The business has a 50 day moving average price of $46.08 and a two-hundred day moving average price of $41.40.

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

TC Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be paid a dividend of $0.702 per share. This represents a $2.81 dividend on an annualized basis and a dividend yield of 5.98%. The ex-dividend date is Friday, September 27th. TC Energy’s dividend payout ratio is currently 116.80%.

TC Energy Profile

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.