CNB Bank Reduces Stock Holdings in TC Energy Co. (NYSE:TRP)

CNB Bank cut its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 18.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,147 shares of the pipeline company’s stock after selling 1,136 shares during the period. CNB Bank’s holdings in TC Energy were worth $239,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealth Alliance increased its holdings in TC Energy by 8.7% in the 2nd quarter. Wealth Alliance now owns 25,960 shares of the pipeline company’s stock valued at $984,000 after acquiring an additional 2,069 shares during the last quarter. Seven Eight Capital LP bought a new stake in shares of TC Energy in the second quarter worth about $1,420,000. XTX Topco Ltd lifted its position in shares of TC Energy by 253.8% in the second quarter. XTX Topco Ltd now owns 48,608 shares of the pipeline company’s stock worth $1,842,000 after buying an additional 34,870 shares in the last quarter. Intech Investment Management LLC grew its holdings in TC Energy by 14.3% during the 2nd quarter. Intech Investment Management LLC now owns 32,936 shares of the pipeline company’s stock valued at $1,248,000 after buying an additional 4,127 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in shares of TC Energy by 4.7% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 15,708 shares of the pipeline company’s stock valued at $596,000 after purchasing an additional 703 shares in the last quarter. Institutional investors own 83.13% of the company’s stock.

Analyst Upgrades and Downgrades

TRP has been the subject of several analyst reports. Veritas raised TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. BMO Capital Markets raised their target price on shares of TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a report on Wednesday, November 20th. TD Securities began coverage on TC Energy in a report on Wednesday. They issued a “buy” rating on the stock. Finally, JPMorgan Chase & Co. upgraded TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, TC Energy currently has a consensus rating of “Hold” and a consensus price target of $55.67.

TC Energy Stock Up 0.7 %

TRP stock opened at $46.51 on Friday. The firm’s fifty day moving average is $47.68 and its 200 day moving average is $45.49. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31. TC Energy Co. has a one year low of $31.83 and a one year high of $50.37. The firm has a market cap of $48.31 billion, a PE ratio of 12.85, a P/E/G ratio of 4.31 and a beta of 0.82.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.06. The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.83 billion. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. On average, research analysts forecast that TC Energy Co. will post 2.95 EPS for the current year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.822 per share. This represents a $3.29 annualized dividend and a yield of 7.07%. The ex-dividend date is Tuesday, December 31st. This is a boost from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s payout ratio is 63.43%.

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.