First Heartland Consultants Inc. Trims Holdings in TC Energy Co. (NYSE:TRP)

First Heartland Consultants Inc. lessened its holdings in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 82.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,731 shares of the pipeline company's stock after selling 55,200 shares during the quarter. First Heartland Consultants Inc.'s holdings in TC Energy were worth $558,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. lifted its holdings in TC Energy by 32.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 43,392 shares of the pipeline company's stock worth $2,063,000 after acquiring an additional 10,637 shares during the last quarter. Tacita Capital Inc raised its holdings in TC Energy by 4.7% during the third quarter. Tacita Capital Inc now owns 70,809 shares of the pipeline company's stock worth $3,370,000 after purchasing an additional 3,179 shares in the last quarter. Meixler Investment Management Ltd. raised its holdings in TC Energy by 6.9% during the third quarter. Meixler Investment Management Ltd. now owns 9,650 shares of the pipeline company's stock worth $459,000 after purchasing an additional 625 shares in the last quarter. Kennebec Savings Bank bought a new stake in TC Energy during the third quarter worth approximately $413,000. Finally, Alan B Lancz & Associates Inc. bought a new stake in TC Energy during the third quarter worth approximately $238,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

TC Energy Trading Up 0.2 %

TRP traded up $0.09 during mid-day trading on Wednesday, hitting $48.45. The stock had a trading volume of 1,205,000 shares, compared to its average volume of 3,094,292. The stock's fifty day simple moving average is $46.75 and its 200-day simple moving average is $42.55. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23. The firm has a market capitalization of $50.28 billion, a price-to-earnings ratio of 13.40, a price-to-earnings-growth ratio of 4.06 and a beta of 0.81. TC Energy Co. has a 1-year low of $31.83 and a 1-year high of $50.22.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.06. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. As a group, research analysts forecast that TC Energy Co. will post 2.98 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a $0.822 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.29 dividend on an annualized basis and a yield of 6.79%. This is an increase from TC Energy's previous quarterly dividend of $0.70. TC Energy's dividend payout ratio (DPR) is 78.95%.

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.