TC Energy Co. (NYSE:TRP) Shares Sold by Yaupon Capital Management LP

Yaupon Capital Management LP cut its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 37.3% during the third quarter, Holdings Channel reports. The institutional investor owned 769,458 shares of the pipeline company’s stock after selling 458,612 shares during the period. TC Energy makes up about 2.0% of Yaupon Capital Management LP’s holdings, making the stock its 13th largest position. Yaupon Capital Management LP’s holdings in TC Energy were worth $36,588,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. EdgeRock Capital LLC acquired a new position in shares of TC Energy in the 2nd quarter valued at $25,000. Whittier Trust Co. of Nevada Inc. boosted its stake in TC Energy by 138.8% in the second 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. Fortitude Family Office LLC purchased a new position in shares of TC Energy during the third quarter worth about $28,000. Blue Trust Inc. grew its holdings in shares of TC Energy by 72.0% during the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 267 shares during the last quarter. Finally, Mather Group LLC. acquired a new stake in shares of TC Energy during the second quarter worth about $33,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TRP. Veritas upgraded TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. StockNews.com started coverage on shares of TC Energy in a research report on Wednesday. They set a “hold” rating on the stock. UBS Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. BMO Capital Markets increased their price target on shares of TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 20th. 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 analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, TC Energy currently has a consensus rating of “Hold” and a consensus price target of $55.67.

TC Energy Stock Performance

NYSE:TRP opened at $48.25 on Friday. The firm has a market cap of $50.08 billion, a price-to-earnings ratio of 13.37, a price-to-earnings-growth ratio of 4.09 and a beta of 0.82. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23. TC Energy Co. has a 1-year low of $31.83 and a 1-year high of $50.37. The firm’s fifty day moving average price is $47.59 and its 200 day moving average price is $43.83.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. On average, sell-side analysts expect that TC Energy Co. will post 3 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. Stockholders of record on Tuesday, December 31st will be issued a $0.822 dividend. This is a boost from TC Energy’s previous quarterly dividend of $0.70. This represents a $3.29 annualized dividend and a dividend yield of 6.81%. The ex-dividend date of this dividend is Tuesday, December 31st. TC Energy’s dividend payout ratio (DPR) is currently 78.95%.

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.