Souders Financial Advisors Sells 25,769 Shares of TC Energy Co. (NYSE:TRP)

Souders Financial Advisors reduced its stake in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 30.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 60,048 shares of the pipeline company's stock after selling 25,769 shares during the quarter. Souders Financial Advisors' holdings in TC Energy were worth $2,794,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in TRP. Connor Clark & Lunn Investment Management Ltd. increased its stake in TC Energy by 156.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company's stock worth $321,778,000 after acquiring an additional 4,126,801 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new stake in TC Energy during the third quarter worth approximately $73,162,000. Merewether Investment Management LP increased its stake in TC Energy by 37.9% during the third quarter. Merewether Investment Management LP now owns 4,097,600 shares of the pipeline company's stock worth $194,776,000 after acquiring an additional 1,127,000 shares during the last quarter. Duff & Phelps Investment Management Co. increased its stake in TC Energy by 70.7% during the third quarter. Duff & Phelps Investment Management Co. now owns 1,763,915 shares of the pipeline company's stock worth $83,874,000 after acquiring an additional 730,415 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP increased its stake in TC Energy by 29.2% during the third quarter. Kayne Anderson Capital Advisors LP now owns 3,198,140 shares of the pipeline company's stock worth $152,072,000 after acquiring an additional 722,619 shares during the last quarter. 83.13% of the stock is owned by institutional investors.

Remove Ads

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on TRP shares. US Capital Advisors upgraded TC Energy from a "hold" rating to a "moderate buy" rating in a research report on Monday, February 3rd. StockNews.com lowered TC Energy from a "buy" rating to a "hold" rating in a research report on Thursday. TD Securities started coverage on TC Energy in a research report on Wednesday, January 15th. They set a "buy" rating for the company. Royal Bank of Canada boosted their target price on TC Energy from $71.00 to $74.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. Finally, BMO Capital Markets boosted their target price on TC Energy from $66.00 to $70.00 and gave the company a "market perform" rating in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $62.00.

TC Energy Trading Up 0.8 %

Shares of NYSE TRP traded up $0.37 during trading hours on Friday, reaching $45.86. The stock had a trading volume of 1,374,582 shares, compared to its average volume of 2,173,636. 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 firm has a market cap of $47.66 billion, a price-to-earnings ratio of 14.15, a P/E/G ratio of 4.34 and a beta of 0.83. The business's fifty day moving average price is $46.28 and its two-hundred day moving average price is $46.72. TC Energy Co. has a 52-week low of $31.83 and a 52-week high of $50.37.

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

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a $0.85 dividend. This is a positive change from TC Energy's previous quarterly dividend of $0.82. The ex-dividend date is Monday, March 31st. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.41%. TC Energy's payout ratio is presently 72.53%.

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.