M&G Plc Sells 65,473 Shares of TC Energy Co. (NYSE:TRP)

M&G Plc lowered its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 2.3% during the second quarter, Holdings Channel reports. The firm owned 2,724,195 shares of the pipeline company’s stock after selling 65,473 shares during the period. M&G Plc’s holdings in TC Energy were worth $103,519,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of TRP. International Assets Investment Management LLC acquired a new stake in TC Energy in the fourth quarter valued at about $2,050,000. Allspring Global Investments Holdings LLC boosted its stake in shares of TC Energy by 29,994.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 309,376 shares of the pipeline company’s stock valued at $12,094,000 after purchasing an additional 308,348 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of TC Energy during the fourth quarter valued at about $230,000. Cerity Partners LLC acquired a new stake in shares of TC Energy during the fourth quarter valued at about $456,000. Finally, Ingalls & Snyder LLC boosted its stake in shares of TC Energy by 11.9% during the fourth quarter. Ingalls & Snyder LLC now owns 10,240 shares of the pipeline company’s stock valued at $400,000 after purchasing an additional 1,090 shares in the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Barclays raised TC Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, TC Energy currently has an average rating of “Hold” and a consensus price target of $44.67.

TC Energy Trading Up 0.9 %

Shares of TC Energy stock traded up $0.40 during midday trading on Tuesday, reaching $43.89. The company had a trading volume of 2,642,805 shares, compared to its average volume of 2,995,228. The stock has a fifty day moving average price of $39.94 and a 200 day moving average price of $39.04. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.76 and a quick ratio of 0.68. The firm has a market cap of $43.89 billion, a PE ratio of 22.42, a P/E/G ratio of 3.56 and a beta of 0.79. TC Energy Co. has a fifty-two week low of $32.51 and a fifty-two week high of $43.90.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.94 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 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 previous year, the firm earned $0.71 earnings per share. On average, equities analysts anticipate that TC Energy Co. will post 3.04 earnings per share for the current year.

TC Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be issued a $0.702 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.81 dividend on an annualized basis and a yield of 6.40%. TC Energy’s payout ratio is currently 143.30%.

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.