Raymond James Trust N.A. lessened its stake in TC Energy Co. (NYSE:TRP – Get Rating) (TSE:TRP) by 1.8% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 23,164 shares of the pipeline company's stock after selling 428 shares during the quarter. Raymond James Trust N.A.'s holdings in TC Energy were worth $1,200,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA raised its stake in shares of TC Energy by 24,616.3% during the 4th quarter. BNP Paribas Arbitrage SA now owns 10,628 shares of the pipeline company's stock worth $495,000 after purchasing an additional 10,585 shares in the last quarter. Geode Capital Management LLC increased its holdings in TC Energy by 6.4% in the fourth quarter. Geode Capital Management LLC now owns 2,721,997 shares of the pipeline company's stock worth $126,574,000 after buying an additional 164,774 shares during the last quarter. Rockefeller Capital Management L.P. raised its position in TC Energy by 46.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,780 shares of the pipeline company's stock valued at $129,000 after acquiring an additional 878 shares in the last quarter. LPL Financial LLC lifted its stake in TC Energy by 10.0% in the fourth quarter. LPL Financial LLC now owns 321,592 shares of the pipeline company's stock valued at $14,967,000 after acquiring an additional 29,339 shares during the last quarter. Finally, Alliancebernstein L.P. grew its position in TC Energy by 0.8% in the fourth quarter. Alliancebernstein L.P. now owns 170,216 shares of the pipeline company's stock worth $7,922,000 after acquiring an additional 1,373 shares in the last quarter. Hedge funds and other institutional investors own 70.14% of the company's stock.
Get TC Energy alerts:Wall Street Analysts Forecast Growth
Several research firms recently issued reports on TRP. Barclays reduced their price objective on shares of TC Energy from C$71.00 to C$67.00 in a research note on Wednesday, July 20th. US Capital Advisors reissued a "hold" rating on shares of TC Energy in a report on Wednesday, June 1st. Scotiabank reduced their target price on TC Energy from C$78.00 to C$76.00 in a report on Friday, July 29th. Royal Bank of Canada lowered their price target on TC Energy from C$79.00 to C$78.00 in a report on Tuesday, August 2nd. Finally, TD Securities upped their price objective on shares of TC Energy from C$75.00 to C$76.00 in a report on Thursday, August 11th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $68.83.
TC Energy Stock Down 5.9 %
TRP stock opened at $43.60 on Friday. TC Energy Co. has a twelve month low of $43.36 and a twelve month high of $59.38. The company has a quick ratio of 0.57, a current ratio of 0.64 and a debt-to-equity ratio of 1.65. The company has a market cap of $44.12 billion, a PE ratio of 17.23, a price-to-earnings-growth ratio of 3.39 and a beta of 0.73. The business's 50-day simple moving average is $50.00 and its 200 day simple moving average is $53.43.TC Energy (NYSE:TRP – Get Rating) (TSE:TRP) last announced its quarterly earnings data on Thursday, July 28th. The pipeline company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.01. The company had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.62 billion. TC Energy had a return on equity of 14.19% and a net margin of 23.44%. On average, research analysts anticipate that TC Energy Co. will post 3.22 earnings per share for the current year.
TC Energy Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be issued a dividend of $0.699 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 6.41%. The ex-dividend date of this dividend is Thursday, September 29th. TC Energy's payout ratio is 110.28%.
About TC Energy
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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 Storage. The company builds and operates 93,300 km network 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.
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