Franklin Resources Inc. Decreases Position in TC Energy Co. (NYSE:TRP)

Franklin Resources Inc. decreased its position in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 1.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 836,711 shares of the pipeline company's stock after selling 11,843 shares during the period. Franklin Resources Inc. owned about 0.08% of TC Energy worth $38,936,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fortitude Family Office LLC acquired a new position in TC Energy during the third quarter worth $28,000. Blue Trust Inc. increased its holdings 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 valued at $30,000 after purchasing an additional 267 shares in the last quarter. EdgeRock Capital LLC acquired a new stake in shares of TC Energy in the second quarter valued at about $25,000. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of 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 purchasing an additional 429 shares during the period. Finally, Point72 DIFC Ltd purchased a new stake in TC Energy during the third quarter worth about $39,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Trading Down 2.1 %

TC Energy stock traded down $0.97 during midday trading on Wednesday, reaching $45.10. The stock had a trading volume of 1,802,652 shares, compared to its average volume of 3,041,932. The stock's 50-day simple moving average is $47.79 and its 200 day simple moving average is $44.39. TC Energy Co. has a twelve month low of $31.83 and a twelve month high of $50.37. 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 stock has a market capitalization of $46.81 billion, a PE ratio of 12.49, a price-to-earnings-growth ratio of 3.88 and a beta of 0.82.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, topping analysts' consensus estimates of $0.70 by $0.06. The company 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%. Analysts expect that TC Energy Co. will post 3 EPS for the current 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 given a $0.822 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.29 annualized dividend and a dividend yield of 7.29%. This is a positive change from TC Energy's previous quarterly dividend of $0.70. TC Energy's dividend payout ratio is presently 67.31%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on TRP shares. BMO Capital Markets lifted their price target 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. StockNews.com assumed coverage on TC Energy in a research report on Wednesday, December 4th. They set a "hold" rating on the stock. Veritas raised TC Energy to a "strong sell" rating in a research note on Tuesday, October 8th. UBS Group upgraded shares of TC Energy from a "neutral" rating to a "buy" rating in a research report on Monday, September 30th. Finally, Morgan Stanley upgraded shares of TC Energy from an "underweight" rating to an "overweight" rating in a research report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $55.67.

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.