TC Energy Co. (NYSE:TRP) Holdings Reduced by NFJ Investment Group LLC

NFJ Investment Group LLC trimmed its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 11.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 720,787 shares of the pipeline company’s stock after selling 95,596 shares during the quarter. TC Energy comprises 1.0% of NFJ Investment Group LLC’s holdings, making the stock its 25th biggest position. NFJ Investment Group LLC’s holdings in TC Energy were worth $34,273,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC acquired a new stake in TC Energy during the third quarter valued at approximately $28,000. Blue Trust Inc. lifted its stake in TC Energy by 72.0% in the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after acquiring an additional 267 shares in the last quarter. EdgeRock Capital LLC acquired a new stake in shares of TC Energy during the second quarter worth approximately $25,000. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of TC Energy by 138.8% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 429 shares in the last quarter. Finally, Mather Group LLC. acquired a new position in TC Energy in the 2nd quarter worth about $33,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Trading Up 0.6 %

NYSE TRP traded up $0.28 on Tuesday, reaching $48.86. The company had a trading volume of 150,206 shares, compared to its average volume of 3,029,584. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78. TC Energy Co. has a 52 week low of $31.83 and a 52 week high of $50.37. The stock has a market cap of $50.71 billion, a price-to-earnings ratio of 13.46, a PEG ratio of 4.08 and a beta of 0.82. The stock’s 50 day moving average is $47.49 and its 200-day moving average is $43.62.

TC Energy (NYSE:TRP) (TSE:TRP) last released 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. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.83 billion. Equities analysts predict that TC Energy Co. will post 3 earnings per share for the current year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a $0.822 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $3.29 dividend on an annualized basis and a dividend yield of 6.73%. This is a boost from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s dividend payout ratio is currently 78.95%.

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 report on Tuesday, October 8th. StockNews.com assumed coverage on shares of TC Energy in a report on Tuesday, November 26th. They set a “hold” rating for the company. JPMorgan Chase & Co. upgraded TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. Finally, BMO Capital Markets raised 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, November 20th. Two equities 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $55.67.

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.