TC Energy Co. (NYSE:TRP) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN cut its position in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,265,954 shares of the pipeline company's stock after selling 49,702 shares during the quarter. Wells Fargo & Company MN owned approximately 0.22% of TC Energy worth $105,546,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in TC Energy in the 4th quarter worth approximately $428,759,000. Mufg Securities Canada LTD. boosted its holdings in shares of TC Energy by 571.7% during the fourth quarter. Mufg Securities Canada LTD. now owns 6,184,832 shares of the pipeline company's stock worth $288,043,000 after purchasing an additional 5,264,079 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of TC Energy in the fourth quarter valued at $102,405,000. Kayne Anderson Capital Advisors LP increased its stake in TC Energy by 51.4% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 4,842,255 shares of the pipeline company's stock valued at $225,310,000 after purchasing an additional 1,644,115 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in TC Energy during the fourth quarter worth about $75,464,000. Institutional investors and hedge funds own 83.13% of the company's stock.

TC Energy Trading Up 4.4 %

Shares of TC Energy stock traded up $2.01 during trading hours on Friday, hitting $47.42. The company's stock had a trading volume of 2,834,721 shares, compared to its average volume of 2,654,052. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56. The company has a market capitalization of $49.28 billion, a PE ratio of 14.64, a P/E/G ratio of 4.34 and a beta of 0.74. The business has a fifty day moving average of $46.60 and a 200 day moving average of $46.94. TC Energy Co. has a 1-year low of $34.95 and a 1-year high of $50.37.

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

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from TC Energy's previous quarterly dividend of $0.82. This represents a $3.40 annualized dividend and a yield of 7.17%. TC Energy's payout ratio is 72.53%.

Analysts Set New Price Targets

Several analysts have commented on TRP shares. Veritas upgraded TC Energy from a "strong sell" rating to a "strong-buy" rating in a report on Tuesday, February 18th. StockNews.com downgraded shares of TC Energy from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. US Capital Advisors raised shares of TC Energy from a "hold" rating to a "moderate buy" rating in a research note on Monday, February 3rd. Royal Bank of Canada lifted their price target on shares of TC Energy from $71.00 to $74.00 and gave the company an "outperform" rating in a report on Tuesday, February 18th. Finally, Citigroup assumed coverage on TC Energy in a report on Friday, April 4th. They set a "neutral" rating for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $62.00.

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.