TC Energy Co. (NYSE:TRP) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC cut its stake in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 2.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 401,220 shares of the pipeline company's stock after selling 9,483 shares during the quarter. HighTower Advisors LLC's holdings in TC Energy were worth $18,669,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TRP. SBI Securities Co. Ltd. purchased a new position in TC Energy in the 4th quarter worth approximately $31,000. Versant Capital Management Inc purchased a new position in TC Energy in the 4th quarter worth approximately $33,000. Synergy Investment Management LLC purchased a new position in TC Energy in the 4th quarter worth approximately $36,000. Point72 DIFC Ltd purchased a new position in TC Energy in the 3rd quarter worth approximately $39,000. Finally, First Command Advisory Services Inc. purchased a new position in TC Energy in the 4th quarter worth approximately $46,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TRP. Royal Bank of Canada raised their price target on shares of TC Energy from $71.00 to $74.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. TD Securities began coverage on shares of TC Energy in a report on Wednesday, January 15th. They set a "buy" rating for the company. US Capital Advisors upgraded shares of TC Energy from a "hold" rating to a "moderate buy" rating in a report on Monday, February 3rd. StockNews.com downgraded shares of TC Energy from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Finally, Veritas upgraded shares of TC Energy from a "strong sell" rating to a "strong-buy" rating in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, TC Energy currently has a consensus rating of "Moderate Buy" and an average target price of $62.00.

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TC Energy Trading Up 1.2 %

TC Energy stock traded up $0.59 during trading on Wednesday, hitting $48.30. The company had a trading volume of 2,007,675 shares, compared to its average volume of 2,558,491. TC Energy Co. has a 1-year low of $34.95 and a 1-year high of $50.37. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56. The company's 50 day simple moving average is $46.26 and its 200-day simple moving average is $46.83. The stock has a market cap of $50.19 billion, a price-to-earnings ratio of 14.91, a price-to-earnings-growth ratio of 4.34 and a beta of 0.83.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.54. The firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.42 billion. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. During the same quarter last year, the firm earned $1.35 EPS. As a group, analysts expect that TC Energy Co. will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a $0.85 dividend. This is an increase from TC Energy's previous quarterly dividend of $0.82. The ex-dividend date is Monday, March 31st. This represents a $3.40 annualized dividend and a dividend yield of 7.04%. TC Energy's payout ratio is 72.53%.

TC Energy 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.