Bell Bank decreased its position in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 15.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 153,772 shares of the pipeline company's stock after selling 29,129 shares during the quarter. Bell Bank's holdings in TC Energy were worth $7,312,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently modified their holdings of TRP. EdgeRock Capital LLC bought a new position in shares of TC Energy in the second quarter valued at approximately $25,000. Whittier Trust Co. of Nevada Inc. lifted its stake in 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. Fortitude Family Office LLC purchased a new position in TC Energy during the 3rd quarter worth $28,000. Blue Trust Inc. grew its stake in shares of 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. Finally, Mather Group LLC. purchased a new stake in shares of TC Energy in the second quarter valued at about $33,000. 83.13% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on TRP. JPMorgan Chase & Co. raised shares of TC Energy from a "neutral" rating to an "overweight" rating in a research report on Monday, October 14th. UBS Group upgraded TC Energy from a "neutral" rating to a "buy" rating in a report on Monday, September 30th. Barclays raised TC Energy from an "equal weight" rating to an "overweight" rating in a research report on Wednesday, July 17th. The Goldman Sachs Group raised their target price on TC Energy from $38.00 to $42.00 and gave the company a "sell" rating in a research report on Monday, October 21st. Finally, StockNews.com initiated coverage on shares of TC Energy in a report on Saturday, October 5th. They issued a "hold" rating on the stock. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $48.50.
View Our Latest Stock Report on TC Energy
TC Energy Stock Performance
NYSE TRP traded up $0.40 during trading on Thursday, hitting $48.84. 2,212,241 shares of the company's stock traded hands, compared to its average volume of 3,090,301. The stock has a market capitalization of $50.69 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 4.06 and a beta of 0.81. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31. The business has a 50 day moving average of $46.78 and a 200-day moving average of $42.59. TC Energy Co. has a 12-month low of $31.83 and a 12-month high of $50.22.
TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share 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%. As a group, equities research analysts anticipate that TC Energy Co. will post 2.98 earnings per share for the current fiscal year.
TC Energy Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.822 per share. This is a positive change from TC Energy's previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, December 31st. This represents a $3.29 annualized dividend and a dividend yield of 6.73%. TC Energy's payout ratio is presently 78.95%.
About TC Energy
(
Free Report)
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.
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