Truist Financial Corp Trims Stock Position in TC Energy Co. (NYSE:TRP)

Truist Financial Corp cut its stake in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 4.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 274,584 shares of the pipeline company's stock after selling 11,757 shares during the period. Truist Financial Corp's holdings in TC Energy were worth $12,776,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Creative Planning boosted its position in shares of TC Energy by 4.1% in the 3rd quarter. Creative Planning now owns 46,779 shares of the pipeline company's stock valued at $2,224,000 after purchasing an additional 1,829 shares during the period. Blue Trust Inc. increased 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 valued at $30,000 after purchasing an additional 267 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in TC Energy by 26.0% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 9,651 shares of the pipeline company's stock valued at $459,000 after buying an additional 1,993 shares during the last quarter. Signaturefd LLC grew its holdings in TC Energy by 15.6% during the 3rd quarter. Signaturefd LLC now owns 18,929 shares of the pipeline company's stock valued at $900,000 after buying an additional 2,556 shares during the last quarter. Finally, Eastern Bank acquired a new stake in TC Energy during the 3rd quarter valued at $166,000. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Morgan Stanley raised TC Energy from an "underweight" rating to an "overweight" rating in a research report on Friday, October 25th. BMO Capital Markets lifted their target price on TC Energy from $66.00 to $70.00 and gave the stock a "market perform" rating in a research report on Wednesday, November 20th. Veritas upgraded TC Energy from a "strong sell" rating to a "strong-buy" rating in a research note on Tuesday. TD Securities assumed coverage on TC Energy in a research note on Wednesday, January 15th. They issued a "buy" rating for the company. Finally, Royal Bank of Canada lifted their target price on TC Energy from $71.00 to $74.00 and gave the company an "outperform" rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $62.00.

TC Energy Price Performance

TC Energy stock traded down $0.60 during trading hours on Friday, hitting $44.94. 2,068,058 shares of the stock were exchanged, compared to its average volume of 2,106,917. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55. The stock has a market capitalization of $46.70 billion, a P/E ratio of 13.87, a P/E/G ratio of 4.37 and a beta of 0.81. TC Energy Co. has a 12 month low of $31.83 and a 12 month high of $50.37. The business's 50-day moving average is $46.51 and its two-hundred day moving average is $46.61.

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

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.57%. This is a positive change from TC Energy's previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, March 31st. TC Energy's dividend payout ratio (DPR) is presently 71.91%.

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.