Icon Wealth Advisors LLC Sells 11,737 Shares of TC Energy Co. (NYSE:TRP)

Icon Wealth Advisors LLC lowered its holdings in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 94.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 753 shares of the pipeline company's stock after selling 11,737 shares during the quarter. Icon Wealth Advisors LLC's holdings in TC Energy were worth $36,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Fortitude Family Office LLC acquired a new stake in shares of TC Energy during the 3rd quarter worth approximately $28,000. Blue Trust Inc. lifted its position in shares of TC Energy by 72.0% during the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company's stock worth $30,000 after buying an additional 267 shares during the period. EdgeRock Capital LLC bought a new position in shares of TC Energy during the 2nd quarter worth approximately $25,000. Whittier Trust Co. of Nevada Inc. increased 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 buying an additional 429 shares in the last quarter. Finally, Mather Group LLC. acquired a new stake in shares of TC Energy in the second quarter valued at $33,000. Institutional investors and hedge funds own 83.13% of the company's stock.

TC Energy Trading Down 0.7 %

TRP traded down $0.32 during midday trading on Tuesday, reaching $48.74. 1,535,745 shares of the company were exchanged, compared to its average volume of 3,055,435. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31. TC Energy Co. has a one year low of $31.83 and a one year high of $50.37. The stock has a market capitalization of $50.59 billion, a P/E ratio of 13.50, a PEG ratio of 4.19 and a beta of 0.81. The stock's 50-day simple moving average is $47.32 and its 200 day simple moving average is $43.41.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its 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. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. The firm had revenue of $2.99 billion for the quarter, compared to analysts' expectations of $2.83 billion. As a group, analysts forecast that TC Energy Co. will post 2.98 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.822 per share. The ex-dividend date is Tuesday, December 31st. This represents a $3.29 dividend on an annualized basis and a yield of 6.75%. This is a boost from TC Energy's previous quarterly dividend of $0.70. TC Energy's dividend payout ratio (DPR) is 78.95%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TRP. StockNews.com began coverage on TC Energy in a research note on Tuesday. They issued a "hold" rating for the company. UBS Group upgraded TC Energy from a "neutral" rating to a "buy" rating in a research note on Monday, September 30th. BMO Capital Markets lifted their price objective on TC Energy from $66.00 to $70.00 and gave the stock a "market perform" rating in a research report on Wednesday, November 20th. Veritas upgraded TC Energy to a "strong sell" rating in a research report on Tuesday, October 8th. Finally, The Goldman Sachs Group lifted their price objective on TC Energy from $38.00 to $42.00 and gave the stock a "sell" rating in a research report on Monday, October 21st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, TC Energy presently has an average rating of "Hold" and an average price target of $55.67.

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.