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

Wrapmanager Inc. trimmed its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 26.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,979 shares of the pipeline company’s stock after selling 2,100 shares during the period. Wrapmanager Inc.’s holdings in TC Energy were worth $284,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in shares of TC Energy in the first quarter worth $104,000. O Shaughnessy Asset Management LLC grew its stake in TC Energy by 13.4% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 31,818 shares of the pipeline company’s stock worth $1,279,000 after buying an additional 3,758 shares during the last quarter. Bessemer Group Inc. grew its stake in TC Energy by 178.0% during the 1st quarter. Bessemer Group Inc. now owns 36,117 shares of the pipeline company’s stock worth $1,451,000 after buying an additional 23,125 shares during the last quarter. Natixis acquired a new stake in TC Energy in the first quarter worth $270,000. Finally, Capital Group Private Client Services Inc. lifted its stake in TC Energy by 75.5% in the first quarter. Capital Group Private Client Services Inc. now owns 1,597,198 shares of the pipeline company’s stock valued at $64,196,000 after buying an additional 687,179 shares during the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Price Performance

NYSE TRP opened at $49.83 on Wednesday. TC Energy Co. has a 1 year low of $31.83 and a 1 year high of $50.22. The stock’s 50-day moving average price is $47.01 and its two-hundred day moving average price is $43.01. The company has a market cap of $51.71 billion, a PE ratio of 13.80, a PEG ratio of 4.12 and a beta of 0.81. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.06. The firm had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. On average, analysts predict that TC Energy Co. will post 2.98 EPS for the current year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.822 per share. This represents a $3.29 annualized dividend and a yield of 6.60%. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Tuesday, December 31st. TC Energy’s payout ratio is presently 67.31%.

Analyst Upgrades and Downgrades

TRP has been the topic of a number of analyst reports. The Goldman Sachs Group increased their price objective on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a report on Monday, October 21st. Veritas raised TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. JPMorgan Chase & Co. raised TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. Finally, UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, TC Energy presently has a consensus rating of “Hold” and an average price target of $48.50.

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.