Great West Life Assurance Co. Can lessened its stake in TC Energy Co. (NYSE:TRP – Free Report) (TSE:TRP) by 20.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,053,553 shares of the pipeline company’s stock after selling 272,214 shares during the quarter. Great West Life Assurance Co. Can owned approximately 0.10% of TC Energy worth $42,883,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its holdings in TC Energy by 197.3% in the 1st quarter. Jones Financial Companies Lllp now owns 669 shares of the pipeline company’s stock worth $26,000 after buying an additional 444 shares during the last quarter. Money Concepts Capital Corp lifted its holdings in TC Energy by 149.1% in the 4th quarter. Money Concepts Capital Corp now owns 949 shares of the pipeline company’s stock valued at $38,000 after purchasing an additional 568 shares in the last quarter. Cullen Frost Bankers Inc. boosted its stake in TC Energy by 1,462.5% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 1,000 shares of the pipeline company’s stock worth $40,000 after purchasing an additional 936 shares during the last quarter. Chilton Capital Management LLC purchased a new stake in shares of TC Energy during the first quarter worth $41,000. Finally, Ronald Blue Trust Inc. grew its holdings in shares of TC Energy by 712.8% during the second quarter. Ronald Blue Trust Inc. now owns 1,081 shares of the pipeline company’s stock worth $42,000 after buying an additional 948 shares in the last quarter. 73.67% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on the company. The Goldman Sachs Group initiated coverage on TC Energy in a research report on Thursday, October 5th. They issued a “sell” rating for the company. BMO Capital Markets downgraded shares of TC Energy from an “outperform” rating to a “market perform” rating in a research note on Friday, July 28th. StockNews.com started coverage on shares of TC Energy in a research note on Thursday, October 5th. They issued a “hold” rating for the company. TheStreet downgraded shares of TC Energy from a “c” rating to a “d+” rating in a report on Wednesday, November 8th. Finally, Barclays decreased their price objective on TC Energy from $51.00 to $50.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, TC Energy currently has a consensus rating of “Hold” and an average target price of $55.17.
TC Energy Price Performance
TRP opened at $36.77 on Tuesday. The stock’s 50-day moving average price is $35.37 and its 200 day moving average price is $37.47. TC Energy Co. has a 12-month low of $32.51 and a 12-month high of $49.51. The firm has a market cap of $38.15 billion, a price-to-earnings ratio of -612.83, a PEG ratio of 3.28 and a beta of 0.82. The company has a current ratio of 0.86, a quick ratio of 0.75 and a debt-to-equity ratio of 43.25.
TC Energy (NYSE:TRP – Get Free Report) (TSE:TRP) last issued its quarterly earnings results on Wednesday, November 8th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.04. The business had revenue of $2.94 billion for the quarter, compared to analysts’ expectations of $2.76 billion. TC Energy had a net margin of 0.10% and a return on equity of 18.19%. As a group, sell-side analysts expect that TC Energy Co. will post 2.76 earnings per share for the current year.
TC Energy Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th will be paid a $0.67 dividend. The ex-dividend date is Thursday, December 28th. This represents a $2.68 annualized dividend and a dividend yield of 7.29%. TC Energy’s dividend payout ratio (DPR) is -4,483.33%.
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 93,700 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.
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