Tobam Cuts Stake in TC Energy Co. (NYSE:TRP)

Tobam reduced its stake in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 81.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,281 shares of the pipeline company's stock after selling 5,463 shares during the quarter. Tobam's holdings in TC Energy were worth $60,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Captrust Financial Advisors boosted its stake in TC Energy by 1.3% in the 3rd quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company's stock worth $871,000 after purchasing an additional 242 shares in the last quarter. Prospera Financial Services Inc boosted its stake in TC Energy by 4.8% in the 3rd quarter. Prospera Financial Services Inc now owns 5,754 shares of the pipeline company's stock worth $274,000 after purchasing an additional 262 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in TC Energy by 8.1% in the 3rd quarter. First Horizon Advisors Inc. now owns 3,505 shares of the pipeline company's stock worth $167,000 after purchasing an additional 264 shares in the last quarter. Blue Trust Inc. boosted its stake in TC Energy by 72.0% in the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company's stock worth $30,000 after purchasing an additional 267 shares in the last quarter. Finally, Cohen Investment Advisors LLC boosted its stake in TC Energy by 2.9% in the 4th quarter. Cohen Investment Advisors LLC now owns 9,831 shares of the pipeline company's stock worth $457,000 after purchasing an additional 279 shares in the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TRP. Morgan Stanley upgraded shares of TC Energy from an "underweight" rating to an "overweight" rating in a research note on Friday, October 25th. TD Securities began coverage on shares of TC Energy in a research note on Wednesday, January 15th. They set a "buy" rating on the stock. BMO Capital Markets upped their target price on shares of TC Energy from $66.00 to $70.00 and gave the company a "market perform" rating in a research note on Wednesday, November 20th. The Goldman Sachs Group upped their target price on shares of TC Energy from $38.00 to $42.00 and gave the company a "sell" rating in a research note on Monday, October 21st. Finally, StockNews.com began coverage on shares of TC Energy in a research note on Wednesday, December 4th. They set a "hold" rating on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, TC Energy has a consensus rating of "Hold" and an average price target of $56.00.

TC Energy Stock Performance

Shares of NYSE TRP traded down $0.43 during midday trading on Wednesday, hitting $46.84. 1,680,402 shares of the company's stock traded hands, compared to its average volume of 2,075,484. TC Energy Co. has a 1 year low of $31.83 and a 1 year high of $50.37. The stock has a market capitalization of $48.67 billion, a price-to-earnings ratio of 12.98, a price-to-earnings-growth ratio of 4.45 and a beta of 0.81. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31. The firm has a fifty day moving average of $46.72 and a 200 day moving average of $46.48.

TC Energy Company 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.