TC Energy Co. (NYSE:TRP) Shares Sold by M&T Bank Corp

M&T Bank Corp cut its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 2.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,935 shares of the pipeline company’s stock after selling 391 shares during the period. M&T Bank Corp’s holdings in TC Energy were worth $663,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Captrust Financial Advisors lifted its holdings in TC Energy by 1.3% in the 3rd quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock valued at $871,000 after purchasing an additional 242 shares in the last quarter. Signaturefd LLC raised its position in shares of TC Energy by 1.6% in the second quarter. Signaturefd LLC now owns 16,373 shares of the pipeline company’s stock valued at $621,000 after buying an additional 261 shares during the last quarter. Prospera Financial Services Inc lifted its stake in shares of TC Energy by 4.8% in the third quarter. Prospera Financial Services Inc now owns 5,754 shares of the pipeline company’s stock worth $274,000 after buying an additional 262 shares in the last quarter. First Horizon Advisors Inc. boosted its position in TC Energy by 8.1% during the third quarter. First Horizon Advisors Inc. now owns 3,505 shares of the pipeline company’s stock worth $167,000 after acquiring an additional 264 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in TC Energy by 72.0% during the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after acquiring an additional 267 shares in the last quarter. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

TC Energy Stock Performance

Shares of TC Energy stock opened at $46.05 on Tuesday. The firm has a market cap of $47.79 billion, a PE ratio of 12.75, a price-to-earnings-growth ratio of 3.88 and a beta of 0.82. 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 business’s fifty day simple moving average is $47.76 and its 200-day simple moving average is $44.33.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results 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 company had revenue of $2.99 billion during 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%. Equities analysts forecast that TC Energy Co. will post 3 earnings per share for the current year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $0.822 dividend. 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. This represents a $3.29 dividend on an annualized basis and a yield of 7.14%. TC Energy’s payout ratio is presently 78.95%.

Analyst Ratings Changes

A number of research firms have weighed in on TRP. BMO Capital Markets raised their target price 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. StockNews.com began coverage on TC Energy in a research report on Wednesday, December 4th. They set a “hold” rating on the stock. The Goldman Sachs Group boosted their price objective on TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research note on Monday, October 21st. 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 shares of TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target 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.