TC Energy Co. (NYSE:TRP) Position Reduced by First County Bank CT

First County Bank CT lowered its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 13.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 24,717 shares of the pipeline company’s stock after selling 3,955 shares during the period. First County Bank CT’s holdings in TC Energy were worth $1,175,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. SG Americas Securities LLC bought a new position in TC Energy during the 1st quarter worth approximately $104,000. O Shaughnessy Asset Management LLC increased its stake in TC Energy by 13.4% during the first quarter. O Shaughnessy Asset Management LLC now owns 31,818 shares of the pipeline company’s stock valued at $1,279,000 after purchasing an additional 3,758 shares during the last quarter. Bessemer Group Inc. increased its stake in TC Energy by 178.0% during the first quarter. Bessemer Group Inc. now owns 36,117 shares of the pipeline company’s stock valued at $1,451,000 after purchasing an additional 23,125 shares during the last quarter. Natixis acquired a new stake in shares of TC Energy during the first quarter worth $270,000. Finally, Bank of Nova Scotia Trust Co. boosted its holdings in shares of TC Energy by 1.9% in the 1st quarter. Bank of Nova Scotia Trust Co. now owns 788,849 shares of the pipeline company’s stock valued at $31,712,000 after buying an additional 14,653 shares during the period. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Trading Up 2.1 %

Shares of NYSE:TRP opened at $50.22 on Friday. The stock has a market capitalization of $52.12 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 4.19 and a beta of 0.81. TC Energy Co. has a 1-year low of $31.83 and a 1-year high of $50.29. The company has a 50 day moving average price of $47.16 and a 200 day moving average price of $43.10. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31.

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 (EPS) 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 the consensus estimate of $2.83 billion. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. On average, research analysts anticipate that TC Energy Co. will post 2.98 EPS for the current fiscal 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 6.55%. 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 78.95%.

Analyst Upgrades and Downgrades

TRP has been the subject of a number of analyst reports. StockNews.com started coverage on TC Energy in a research report on Monday. They set a “hold” rating for the company. BMO Capital Markets lifted their price objective 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. UBS Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. Finally, The Goldman Sachs Group lifted their price objective on shares of TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research note on Monday, October 21st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, TC Energy presently has an average rating of “Hold” and a consensus target price of $55.67.

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.