CNB Bank Has $299,000 Stock Holdings in TC Energy Co. (NYSE:TRP)

CNB Bank decreased its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 29.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,283 shares of the pipeline company’s stock after selling 2,614 shares during the quarter. CNB Bank’s holdings in TC Energy were worth $299,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of TRP. Murchinson Ltd. acquired a new position in shares of TC Energy in the 1st quarter valued at about $506,485,000. Canada Pension Plan Investment Board grew its position in TC Energy by 107.1% during the second quarter. Canada Pension Plan Investment Board now owns 19,462,155 shares of the pipeline company’s stock valued at $737,609,000 after purchasing an additional 10,065,000 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in TC Energy by 94.9% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 17,124,818 shares of the pipeline company’s stock valued at $688,534,000 after buying an additional 8,339,800 shares during the period. Merewether Investment Management LP purchased a new stake in TC Energy in the 2nd quarter worth approximately $112,618,000. Finally, M&G Plc acquired a new stake in shares of TC Energy during the 1st quarter valued at $111,587,000. 83.13% of the stock is owned by institutional investors and hedge funds.

TC Energy Stock Up 1.2 %

Shares of TRP stock opened at $48.10 on Friday. The company has a market capitalization of $48.10 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 3.84 and a beta of 0.81. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.68 and a current ratio of 0.76. The stock’s 50 day simple moving average is $45.87 and its 200 day simple moving average is $41.22. TC Energy Co. has a twelve month low of $30.48 and a twelve month high of $48.20.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.29. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. The business had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.78 billion. During the same period in the previous year, the company earned $0.71 earnings per share. As a group, research analysts predict that TC Energy Co. will post 3.05 EPS for the current year.

TC Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be given a $0.702 dividend. This represents a $2.81 annualized dividend and a dividend yield of 5.84%. The ex-dividend date is Friday, September 27th. TC Energy’s dividend payout ratio is currently 146.39%.

Analyst Ratings Changes

TRP has been the subject of several recent research reports. JPMorgan Chase & Co. upgraded TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. Veritas raised TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. StockNews.com started coverage on TC Energy in a research note on Saturday, October 5th. They issued a “hold” rating for the company. Barclays raised shares of TC Energy from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, July 17th. Finally, UBS Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, TC Energy currently has a consensus rating of “Hold” and an average target price of $43.50.

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.