TC Energy Co. (NYSE:TRP) Shares Sold by Tobam

Tobam trimmed its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 5.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,744 shares of the pipeline company’s stock after selling 395 shares during the period. Tobam’s holdings in TC Energy were worth $321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Signaturefd LLC increased its holdings in shares of TC Energy by 1.6% in the second quarter. Signaturefd LLC now owns 16,373 shares of the pipeline company’s stock valued at $621,000 after purchasing an additional 261 shares during the period. New Hampshire Trust increased its holdings in TC Energy by 3.8% in the 1st quarter. New Hampshire Trust now owns 7,263 shares of the pipeline company’s stock worth $292,000 after buying an additional 269 shares during the period. Windsor Advisory Group LLC increased its holdings in TC Energy by 2.5% in the 1st quarter. Windsor Advisory Group LLC now owns 12,831 shares of the pipeline company’s stock worth $516,000 after buying an additional 316 shares during the period. Benjamin F. Edwards & Company Inc. raised its position in TC Energy by 2.3% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 15,005 shares of the pipeline company’s stock worth $604,000 after buying an additional 332 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC lifted its stake in TC Energy by 1.9% during the 1st quarter. Mount Yale Investment Advisors LLC now owns 19,873 shares of the pipeline company’s stock valued at $799,000 after acquiring an additional 364 shares during the period. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TRP. Veritas upgraded shares of TC Energy to a “strong sell” rating in a research note on Tuesday. UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. StockNews.com assumed coverage on TC Energy in a report on Saturday, October 5th. They issued a “hold” rating for the company. Finally, Barclays raised TC Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $43.50.

TC Energy Trading Down 0.3 %

Shares of TC Energy stock opened at $45.07 on Friday. TC Energy Co. has a fifty-two week low of $33.47 and a fifty-two week high of $48.42. 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 company has a market cap of $46.77 billion, a P/E ratio of 18.47, a price-to-earnings-growth ratio of 3.69 and a beta of 0.81. The firm has a 50-day simple moving average of $45.34 and a two-hundred day simple moving average of $40.90.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results 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. The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.78 billion. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. During the same quarter in the prior year, the business posted $0.71 earnings per share. As a group, equities analysts predict that TC Energy Co. will post 3.06 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be issued a $0.702 dividend. This represents a $2.81 annualized dividend and a yield of 6.23%. The ex-dividend date is Friday, September 27th. TC Energy’s payout ratio is presently 116.80%.

TC Energy Company 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.