TC Energy Co. (NYSE:TRP) Holdings Cut by Wrapmanager Inc.

Wrapmanager Inc. reduced its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 26.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,979 shares of the pipeline company’s stock after selling 2,100 shares during the period. Wrapmanager Inc.’s holdings in TC Energy were worth $284,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Cetera Investment Advisers grew its stake in TC Energy by 74.1% in the first quarter. Cetera Investment Advisers now owns 98,729 shares of the pipeline company’s stock valued at $3,972,000 after purchasing an additional 42,024 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of TC Energy by 2.6% in the 2nd quarter. CIBC Asset Management Inc now owns 8,515,086 shares of the pipeline company’s stock valued at $322,584,000 after buying an additional 214,689 shares in the last quarter. Harvest Portfolios Group Inc. increased its holdings in TC Energy by 107.7% in the third quarter. Harvest Portfolios Group Inc. now owns 226,007 shares of the pipeline company’s stock worth $10,743,000 after buying an additional 117,176 shares during the last quarter. Legal & General Group Plc raised its position in TC Energy by 4.1% during the second quarter. Legal & General Group Plc now owns 11,892,999 shares of the pipeline company’s stock valued at $450,749,000 after acquiring an additional 467,497 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in TC Energy by 107.1% in 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 acquiring an additional 10,065,000 shares during the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

TC Energy Trading Down 0.2 %

TC Energy stock opened at $49.83 on Wednesday. TC Energy Co. has a 52 week low of $31.83 and a 52 week high of $50.22. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31. The firm has a market capitalization of $51.71 billion, a PE ratio of 13.80, a PEG ratio of 4.12 and a beta of 0.81. The business’s 50-day simple moving average is $47.01 and its 200-day simple moving average is $43.01.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.70 by $0.06. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.83 billion. Equities research analysts forecast that TC Energy Co. will post 2.98 earnings per share for the current year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.822 per share. This is a boost from TC Energy’s previous quarterly dividend of $0.70. This represents a $3.29 annualized dividend and a yield of 6.60%. The ex-dividend date is Tuesday, December 31st. TC Energy’s dividend payout ratio is presently 67.31%.

Wall Street Analysts Forecast Growth

TRP has been the topic of several analyst reports. Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. Veritas upgraded TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. upgraded TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. StockNews.com initiated coverage on TC Energy in a research note on Monday. They issued a “hold” rating on the stock. Finally, UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, TC Energy presently has a consensus rating of “Hold” and an average price target of $48.50.

About TC Energy

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.