5,000 Shares in TC Energy Co. (NYSE:TRP) Purchased by Grassi Investment Management

Grassi Investment Management bought a new position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,000 shares of the pipeline company’s stock, valued at approximately $238,000.

Several other large investors have also recently added to or reduced their stakes in the business. Signaturefd LLC lifted its position in TC Energy by 1.6% during the second quarter. Signaturefd LLC now owns 16,373 shares of the pipeline company’s stock worth $621,000 after buying an additional 261 shares during the period. Blue Trust Inc. lifted 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 during the period. Windsor Advisory Group LLC lifted its position in TC Energy by 2.5% during the first quarter. Windsor Advisory Group LLC now owns 12,831 shares of the pipeline company’s stock worth $516,000 after buying an additional 316 shares during the period. Mount Yale Investment Advisors LLC raised its holdings in shares of TC Energy by 1.9% in the 1st quarter. Mount Yale Investment Advisors LLC now owns 19,873 shares of the pipeline company’s stock worth $799,000 after purchasing an additional 364 shares during the period. Finally, Gold Investment Management Ltd. lifted its stake in shares of TC Energy by 4.6% in the 1st quarter. Gold Investment Management Ltd. now owns 9,230 shares of the pipeline company’s stock valued at $371,000 after purchasing an additional 403 shares in the last quarter. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Veritas raised TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. StockNews.com assumed coverage on TC Energy in a research note on Saturday, October 5th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. raised TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. Finally, The Goldman Sachs Group lifted their price objective on TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research note on Monday. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $48.50.

TC Energy Trading Up 0.1 %

NYSE:TRP opened at $47.00 on Thursday. TC Energy Co. has a 12-month low of $30.61 and a 12-month high of $48.25. The firm has a market capitalization of $48.78 billion, a P/E ratio of 19.24, a P/E/G ratio of 3.92 and a beta of 0.81. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.76 and a quick ratio of 0.68. The business has a 50 day simple moving average of $46.08 and a 200 day simple moving average of $41.40.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.29. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. The company had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.78 billion. During the same quarter in the previous year, the firm posted $0.71 EPS. Equities research analysts predict that TC Energy Co. will post 3.02 EPS for the current year.

TC Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be paid a $0.702 dividend. This represents a $2.81 dividend on an annualized basis and a dividend yield of 5.97%. The ex-dividend date of this dividend is Friday, September 27th. TC Energy’s dividend payout ratio is presently 116.80%.

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.