Veriti Management LLC decreased its holdings in TC Energy Co. (NYSE:TRP – Get Rating) (TSE:TRP) by 6.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,018 shares of the pipeline company's stock after selling 763 shares during the quarter. Veriti Management LLC's holdings in TC Energy were worth $571,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Keudell Morrison Wealth Management boosted its stake in shares of TC Energy by 3.0% in the first quarter. Keudell Morrison Wealth Management now owns 6,508 shares of the pipeline company's stock valued at $367,000 after purchasing an additional 188 shares during the period. Wealth Alliance boosted its stake in shares of TC Energy by 1.9% in the first quarter. Wealth Alliance now owns 10,458 shares of the pipeline company's stock valued at $590,000 after purchasing an additional 195 shares during the period. HighTower Trust Services LTA raised its holdings in TC Energy by 1.7% in the first quarter. HighTower Trust Services LTA now owns 12,128 shares of the pipeline company's stock valued at $684,000 after acquiring an additional 198 shares in the last quarter. Financial Management Professionals Inc. raised its holdings in TC Energy by 26.0% in the first quarter. Financial Management Professionals Inc. now owns 970 shares of the pipeline company's stock valued at $55,000 after acquiring an additional 200 shares in the last quarter. Finally, Roosevelt Investment Group LLC raised its holdings in TC Energy by 4.3% in the first quarter. Roosevelt Investment Group LLC now owns 5,205 shares of the pipeline company's stock valued at $294,000 after acquiring an additional 213 shares in the last quarter. Hedge funds and other institutional investors own 70.14% of the company's stock.
Get TC Energy alerts:TC Energy Stock Performance
Shares of TRP opened at $42.00 on Wednesday. The company has a current ratio of 0.64, a quick ratio of 0.57 and a debt-to-equity ratio of 1.65. The firm has a market cap of $42.50 billion, a PE ratio of 16.60, a price-to-earnings-growth ratio of 3.28 and a beta of 0.73. The company's 50 day simple moving average is $49.58 and its 200-day simple moving average is $53.24. TC Energy Co. has a 12-month low of $41.76 and a 12-month high of $59.38.
TC Energy (NYSE:TRP – Get Rating) (TSE:TRP) last announced its earnings results on Thursday, July 28th. The pipeline company reported $0.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.77 by $0.01. The business had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.62 billion. TC Energy had a net margin of 23.44% and a return on equity of 14.19%. As a group, equities analysts predict that TC Energy Co. will post 3.22 EPS for the current year.TC Energy Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be given a dividend of $0.699 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 6.66%. TC Energy's dividend payout ratio (DPR) is presently 110.28%.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on TRP. BMO Capital Markets reduced their target price on shares of TC Energy from C$76.00 to C$72.00 in a report on Thursday, August 11th. US Capital Advisors reaffirmed a "hold" rating on shares of TC Energy in a report on Wednesday, June 1st. Royal Bank of Canada reduced their target price on shares of TC Energy from C$79.00 to C$78.00 in a report on Tuesday, August 2nd. Barclays reduced their target price on shares of TC Energy from C$71.00 to C$67.00 in a report on Wednesday, July 20th. Finally, Scotiabank cut their price objective on shares of TC Energy from C$78.00 to C$76.00 in a report on Friday, July 29th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, TC Energy currently has a consensus rating of "Hold" and a consensus price target of $68.83.
TC Energy Company Profile
(Get Rating)
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.
Recommended Stories
- Get a free copy of the StockNews.com research report on TC Energy (TRP)
- Defensive Stocks For A Volatile Market
- Will UPS Be Next to Deliver a Warning?
- SunPower Is Ready To Power Up Triple-Digit Earnings Gains
- Is This the Darkest Before the Dawn for Gap Stock?
- Build A Better Tech Portfolio With Jabil Inc.
Want to see what other hedge funds are holding TRP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TC Energy Co. (NYSE:TRP – Get Rating) (TSE:TRP).
Receive News & Ratings for TC Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TC Energy and related companies with MarketBeat.com's FREE daily email newsletter.