Bleakley Financial Group LLC Sells 76,034 Shares of TC Energy Co. (NYSE:TRP)

Bleakley Financial Group LLC trimmed its holdings in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 60.1% in the third quarter, according to its most recent filing with the SEC. The firm owned 50,538 shares of the pipeline company's stock after selling 76,034 shares during the period. Bleakley Financial Group LLC's holdings in TC Energy were worth $2,403,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Baskin Financial Services Inc. bought a new position in shares of TC Energy during the 3rd quarter worth approximately $282,000. Creative Planning raised its stake in TC Energy by 4.1% during the third quarter. Creative Planning now owns 46,779 shares of the pipeline company's stock worth $2,224,000 after acquiring an additional 1,829 shares in the last quarter. Procyon Advisors LLC lifted its holdings in shares of TC Energy by 4.0% during the third quarter. Procyon Advisors LLC now owns 12,847 shares of the pipeline company's stock valued at $611,000 after acquiring an additional 491 shares during the period. Viking Fund Management LLC boosted its stake in shares of TC Energy by 3.0% in the 3rd quarter. Viking Fund Management LLC now owns 157,000 shares of the pipeline company's stock valued at $7,465,000 after purchasing an additional 4,600 shares in the last quarter. Finally, Ritholtz Wealth Management bought a new stake in shares of TC Energy in the 3rd quarter worth about $787,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Stock Up 1.2 %

Shares of TRP opened at $48.11 on Friday. The business's fifty day moving average price is $45.87 and its two-hundred day moving average price is $41.22. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.68 and a current ratio of 0.76. The firm has a market capitalization of $48.11 billion, a price-to-earnings ratio of 24.80, a PEG ratio of 3.84 and a beta of 0.81. TC Energy Co. has a 52 week low of $30.48 and a 52 week high of $48.20.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.65 by $0.29. The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.78 billion. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. During the same period in the prior year, the company posted $0.71 EPS. On average, analysts predict that TC Energy Co. will post 3.05 earnings per share for the current year.

TC Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be issued a dividend of $0.702 per share. This represents a $2.81 dividend on an annualized basis and a yield of 5.84%. The ex-dividend date of this dividend is Friday, September 27th. TC Energy's dividend payout ratio is presently 146.39%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. UBS Group upgraded shares of TC Energy from a "neutral" rating to a "buy" rating in a research report on Monday, September 30th. StockNews.com began coverage on TC Energy in a research report on Saturday, October 5th. They set a "hold" rating on the stock. Veritas upgraded TC Energy to a "strong sell" rating in a research report on Tuesday, October 8th. Barclays raised TC Energy from an "equal weight" rating to an "overweight" rating in a research note on Wednesday, July 17th. Finally, JPMorgan Chase & Co. upgraded TC Energy from a "neutral" rating to an "overweight" rating in a research note on Monday, October 14th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $43.50.

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.