XTX Topco Ltd lowered its stake in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 77.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 11,121 shares of the pipeline company's stock after selling 37,487 shares during the quarter. XTX Topco Ltd's holdings in TC Energy were worth $529,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. SG Americas Securities LLC lifted its stake in TC Energy by 33.4% in the second quarter. SG Americas Securities LLC now owns 3,455 shares of the pipeline company's stock worth $131,000 after acquiring an additional 865 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of TC Energy by 69.0% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 16,402 shares of the pipeline company's stock valued at $622,000 after purchasing an additional 6,695 shares in the last quarter. Nexus Investment Management ULC grew its stake in TC Energy by 2.6% in the second quarter. Nexus Investment Management ULC now owns 632,285 shares of the pipeline company's stock worth $23,953,000 after purchasing an additional 15,800 shares during the period. Stableford Capital II LLC raised its holdings in TC Energy by 1.4% in the second quarter. Stableford Capital II LLC now owns 30,272 shares of the pipeline company's stock worth $1,213,000 after purchasing an additional 422 shares in the last quarter. Finally, Hennessy Advisors Inc. lifted its position in TC Energy by 4.6% during the second quarter. Hennessy Advisors Inc. now owns 614,400 shares of the pipeline company's stock valued at $23,286,000 after buying an additional 27,100 shares during the period. Hedge funds and other institutional investors own 83.13% of the company's stock.
TC Energy Stock Down 0.7 %
NYSE TRP traded down $0.31 during mid-day trading on Friday, reaching $46.47. The stock had a trading volume of 5,936,294 shares, compared to its average volume of 3,044,786. The company has a fifty day moving average price of $47.74 and a 200 day moving average price of $44.18. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23. TC Energy Co. has a 1 year low of $31.83 and a 1 year high of $50.37. The stock has a market cap of $48.23 billion, a PE ratio of 12.87, a price-to-earnings-growth ratio of 3.95 and a beta of 0.82.
TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $2.83 billion. On average, research analysts expect that TC Energy Co. will post 3 earnings per share for the current year.
TC Energy Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.822 dividend. The ex-dividend date is Tuesday, December 31st. This is a positive change from TC Energy's previous quarterly dividend of $0.70. This represents a $3.29 dividend on an annualized basis and a dividend yield of 7.08%. TC Energy's payout ratio is currently 67.31%.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on TRP shares. The Goldman Sachs Group upped their target price 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. StockNews.com started coverage on shares of TC Energy in a research note on Wednesday, December 4th. They set a "hold" rating for the company. UBS Group raised TC Energy from a "neutral" rating to a "buy" rating in a research report on Monday, September 30th. Veritas raised TC Energy to a "strong sell" rating in a research report on Tuesday, October 8th. Finally, BMO Capital Markets lifted their price objective on TC Energy from $66.00 to $70.00 and gave the company a "market perform" rating in a research note on Wednesday, November 20th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $55.67.
Check Out Our Latest Stock Analysis on TC Energy
About TC Energy
(
Free Report)
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.
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