Axxcess Wealth Management LLC Has $250,000 Stake in TC Energy Co. (NYSE:TRP)

Axxcess Wealth Management LLC decreased its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 55.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,219 shares of the pipeline company’s stock after selling 7,700 shares during the quarter. Axxcess Wealth Management LLC’s holdings in TC Energy were worth $250,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Capital Research Global Investors raised its position in TC Energy by 23.7% during the 4th quarter. Capital Research Global Investors now owns 55,677,989 shares of the pipeline company’s stock worth $2,174,931,000 after purchasing an additional 10,654,993 shares during the last quarter. Norges Bank bought a new position in TC Energy during the 4th quarter worth $341,262,000. Healthcare of Ontario Pension Plan Trust Fund raised its position in TC Energy by 94.9% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 17,124,818 shares of the pipeline company’s stock worth $688,534,000 after purchasing an additional 8,339,800 shares during the last quarter. Mufg Securities Canada LTD. bought a new position in TC Energy during the 4th quarter worth $235,580,000. Finally, Capital International Investors raised its position in shares of TC Energy by 11.8% in the 4th quarter. Capital International Investors now owns 55,161,245 shares of the pipeline company’s stock worth $2,155,419,000 after acquiring an additional 5,822,056 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Price Performance

Shares of NYSE TRP opened at $41.97 on Friday. TC Energy Co. has a twelve month low of $32.51 and a twelve month high of $42.04. The stock’s 50 day moving average price is $38.98 and its 200-day moving average price is $38.76. The company has a market capitalization of $41.97 billion, a PE ratio of 21.63, a PEG ratio of 3.46 and a beta of 0.79. The company has a quick ratio of 0.85, a current ratio of 0.94 and a debt-to-equity ratio of 1.64.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Friday, May 3rd. The pipeline company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.09. The firm had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.12 billion. TC Energy had a return on equity of 17.94% and a net margin of 17.23%. On average, equities analysts anticipate that TC Energy Co. will post 3.03 EPS for the current year.

TC Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be issued a $0.71 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 6.77%. TC Energy’s dividend payout ratio (DPR) is presently 144.85%.

Analysts Set New Price Targets

Separately, Barclays raised TC Energy from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $48.83.

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.