First County Bank CT Has $1.18 Million Holdings in TC Energy Co. (NYSE:TRP)

First County Bank CT trimmed its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 13.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,717 shares of the pipeline company’s stock after selling 3,955 shares during the quarter. First County Bank CT’s holdings in TC Energy were worth $1,175,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently modified their holdings of TRP. EdgeRock Capital LLC bought a new stake in TC Energy during the 2nd quarter valued at approximately $25,000. Whittier Trust Co. of Nevada Inc. boosted its position in shares of TC Energy by 138.8% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 429 shares during the period. Fortitude Family Office LLC acquired a new stake in shares of TC Energy in the third quarter worth $28,000. Blue Trust Inc. grew its position in TC Energy by 72.0% during the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after buying an additional 267 shares in the last quarter. Finally, Mather Group LLC. bought a new stake in shares of TC Energy in the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Trading Up 2.1 %

NYSE:TRP opened at $50.22 on Friday. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78. The firm has a market capitalization of $52.12 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 4.19 and a beta of 0.81. The business’s 50-day moving average price is $47.16 and its two-hundred day moving average price is $43.10. TC Energy Co. has a 1-year low of $31.83 and a 1-year high of $50.29.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (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 during the quarter, compared to the consensus estimate of $2.83 billion. On average, equities analysts expect that TC Energy Co. will post 2.98 earnings per share for the current year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a $0.822 dividend. 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 6.55%. The ex-dividend date is Tuesday, December 31st. TC Energy’s payout ratio is currently 78.95%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on TRP shares. Veritas raised shares of TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. JPMorgan Chase & Co. raised shares of TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. StockNews.com initiated coverage on shares of TC Energy in a research report on Monday. They issued a “hold” rating for the company. Finally, The Goldman Sachs Group upped their price target on TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, TC Energy currently has an average rating of “Hold” and a consensus price target of $55.67.

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.