Allspring Global Investments Holdings LLC Has $6.81 Million Holdings in TC Energy Co. (NYSE:TRP)

Allspring Global Investments Holdings LLC lessened its stake in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 46.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 143,148 shares of the pipeline company's stock after selling 126,100 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in TC Energy were worth $6,807,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Signaturefd LLC grew its stake in shares of TC Energy by 1.6% during the second quarter. Signaturefd LLC now owns 16,373 shares of the pipeline company's stock worth $621,000 after buying an additional 261 shares during the last quarter. Blue Trust Inc. grew its stake in shares of TC Energy by 72.0% in the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company's stock worth $30,000 after purchasing an additional 267 shares during the last quarter. Windsor Advisory Group LLC grew its stake in shares of TC Energy by 2.5% in the first quarter. Windsor Advisory Group LLC now owns 12,831 shares of the pipeline company's stock worth $516,000 after purchasing an additional 316 shares during the last quarter. Mount Yale Investment Advisors LLC grew its stake in shares of TC Energy by 1.9% in the first quarter. Mount Yale Investment Advisors LLC now owns 19,873 shares of the pipeline company's stock worth $799,000 after purchasing an additional 364 shares during the last quarter. Finally, Gold Investment Management Ltd. grew its stake in shares of TC Energy by 4.6% in the first quarter. Gold Investment Management Ltd. now owns 9,230 shares of the pipeline company's stock worth $371,000 after purchasing an additional 403 shares during the last quarter. Institutional investors own 83.13% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on TRP shares. The Goldman Sachs Group boosted their price objective on shares of TC Energy from $38.00 to $42.00 and gave the stock a "sell" rating in a research note on Monday, October 21st. UBS Group raised shares of TC Energy from a "neutral" rating to a "buy" rating in a research note on Monday, September 30th. JPMorgan Chase & Co. upgraded shares of TC Energy from a "neutral" rating to an "overweight" rating in a report on Monday, October 14th. StockNews.com initiated coverage on shares of TC Energy in a report on Saturday, October 5th. They issued a "hold" rating on the stock. Finally, Veritas upgraded shares of TC Energy to a "strong sell" rating in a report on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $48.50.

TC Energy Stock Down 1.0 %

Shares of NYSE TRP traded down $0.47 during trading on Monday, hitting $46.79. 1,228,150 shares of the company traded hands, compared to its average volume of 3,174,865. The business's fifty day moving average is $46.20 and its 200 day moving average is $41.56. TC Energy Co. has a fifty-two week low of $30.66 and a fifty-two week high of $48.25. The firm has a market capitalization of $48.56 billion, a price-to-earnings ratio of 19.37, a P/E/G ratio of 3.91 and a beta of 0.81. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.68 and a current ratio of 0.76.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.29. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. The firm had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same quarter in the prior year, the business earned $0.71 earnings per share. Equities research analysts predict that TC Energy Co. will post 3.02 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be issued a dividend of $0.702 per share. The ex-dividend date is Friday, September 27th. This represents a $2.81 annualized dividend and a dividend yield of 6.00%. TC Energy's dividend payout ratio is currently 116.80%.

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.