TC Energy Co. (NYSE:TRP) Stock Position Lowered by MassMutual Private Wealth & Trust FSB

MassMutual Private Wealth & Trust FSB lowered its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 2.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,685 shares of the pipeline company’s stock after selling 982 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in TC Energy were worth $2,172,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Fortitude Family Office LLC bought a new position in shares of TC Energy during the 3rd quarter valued at about $28,000. Blue Trust Inc. lifted its stake in TC Energy by 72.0% during the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 267 shares during the last quarter. Versant Capital Management Inc bought a new stake in TC Energy during the fourth quarter worth approximately $33,000. Point72 DIFC Ltd acquired a new position in TC Energy in the third quarter worth approximately $39,000. Finally, UMB Bank n.a. bought a new position in shares of TC Energy in the fourth quarter valued at $47,000. 83.13% of the stock is owned by institutional investors and hedge funds.

TC Energy Stock Up 2.7 %

TC Energy stock opened at $47.39 on Tuesday. The firm’s 50 day moving average price is $47.59 and its two-hundred day moving average price is $45.67. The firm has a market cap of $49.25 billion, a PE ratio of 13.13, a P/E/G ratio of 4.47 and a beta of 0.82. TC Energy Co. has a twelve month low of $31.83 and a twelve month high of $50.37. 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 (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data 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 business had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.83 billion. On average, research analysts predict that TC Energy Co. will post 2.95 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm 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 dividend of $0.822 per share. This represents a $3.29 annualized dividend and a yield of 6.94%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s dividend payout ratio (DPR) is presently 63.43%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TRP. UBS Group upgraded TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. The Goldman Sachs Group lifted their price target on TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research note on Monday, October 21st. Veritas raised shares of TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. StockNews.com started coverage on shares of TC Energy in a research report on Wednesday, December 4th. They issued a “hold” rating for the company. Finally, TD Securities started coverage on shares of TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, TC Energy has an average rating of “Hold” and a consensus price target of $55.67.

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.