Financial Counselors Inc. Trims Stock Holdings in TC Energy Co. (NYSE:TRP)

Financial Counselors Inc. trimmed its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 1.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 207,741 shares of the pipeline company’s stock after selling 3,353 shares during the period. Financial Counselors Inc.’s holdings in TC Energy were worth $9,878,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TRP. EdgeRock Capital LLC purchased a new stake in TC Energy in the second quarter worth $25,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in 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 worth $28,000 after acquiring an additional 429 shares in the last quarter. Fortitude Family Office LLC bought a new stake in TC Energy in the third quarter worth $28,000. Blue Trust Inc. boosted its holdings in TC Energy by 72.0% in the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after acquiring an additional 267 shares in the last quarter. Finally, Mather Group LLC. bought a new stake in TC Energy in the second quarter worth $33,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Stock Down 0.7 %

TC Energy stock opened at $48.41 on Friday. The stock has a market cap of $50.25 billion, a PE ratio of 13.41, a price-to-earnings-growth ratio of 4.03 and a beta of 0.81. 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 stock has a fifty day moving average of $47.43 and a 200 day moving average of $43.48.

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 analysts’ consensus estimates of $0.70 by $0.06. The business had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.83 billion. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. As a group, sell-side analysts predict that TC Energy Co. will post 3 EPS for the current year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders 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. The ex-dividend date is Tuesday, December 31st. This represents a $3.29 dividend on an annualized basis and a yield of 6.79%. TC Energy’s dividend payout ratio is presently 78.95%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. BMO Capital Markets upped their price target on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. raised TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. 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 report on Monday, October 21st. Finally, Veritas raised TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus 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.