UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 276,921 Shares of TC Energy Co. (NYSE:TRP)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 26.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 757,433 shares of the pipeline company's stock after selling 276,921 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.07% of TC Energy worth $36,016,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. EdgeRock Capital LLC purchased a new stake in TC Energy in the second quarter worth $25,000. Whittier Trust Co. of Nevada Inc. grew its stake in shares of TC Energy by 138.8% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company's stock worth $28,000 after acquiring an additional 429 shares during the period. Fortitude Family Office LLC purchased a new stake in TC Energy in the 3rd quarter worth about $28,000. Blue Trust Inc. raised 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 acquiring an additional 267 shares during the period. Finally, Mather Group LLC. purchased a new stake in TC Energy during the second quarter valued at about $33,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Price Performance

NYSE:TRP traded down $0.06 during trading hours on Thursday, hitting $48.96. 2,013,731 shares of the company's stock traded hands, compared to its average volume of 3,031,037. TC Energy Co. has a 52 week low of $31.83 and a 52 week high of $50.37. The business's fifty day simple moving average is $47.59 and its two-hundred day simple moving average is $43.83. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78. The firm has a market cap of $50.82 billion, a P/E ratio of 13.56, a P/E/G ratio of 4.05 and a beta of 0.82.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued 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. The firm had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.83 billion. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. On average, research analysts anticipate that TC Energy Co. will post 3 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.822 per share. This is an increase 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 6.72%. The ex-dividend date of this dividend is Tuesday, December 31st. TC Energy's payout ratio is currently 67.31%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. StockNews.com began coverage on shares of TC Energy in a research report on Wednesday. They issued a "hold" rating on the stock. JPMorgan Chase & Co. upgraded TC Energy from a "neutral" rating to an "overweight" rating in a research report on Monday, October 14th. UBS Group upgraded TC Energy from a "neutral" rating to a "buy" rating in a research report on Monday, September 30th. Morgan Stanley upgraded TC Energy from an "underweight" rating to an "overweight" rating in a research note on Friday, October 25th. Finally, Veritas upgraded TC Energy to a "strong sell" rating in a research note on Tuesday, October 8th. 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 stock. Based on data from MarketBeat.com, TC Energy currently has an average rating of "Hold" and a consensus price target of $55.67.

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.