Crossmark Global Holdings Inc. Sells 27,183 Shares of TC Energy Co. (NYSE:TRP)

Crossmark Global Holdings Inc. reduced its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 43.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 34,819 shares of the pipeline company’s stock after selling 27,183 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in TC Energy were worth $1,655,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of TRP. EdgeRock Capital LLC acquired a new stake in TC Energy in the second quarter valued at $25,000. Whittier Trust Co. of Nevada Inc. lifted its stake 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 valued at $28,000 after buying an additional 429 shares during the period. Fortitude Family Office LLC bought a new position in shares of TC Energy during the 3rd quarter worth approximately $28,000. Blue Trust Inc. grew its position in shares of TC Energy by 72.0% during the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after buying an additional 267 shares during the period. Finally, Mather Group LLC. acquired a new stake in TC Energy in the second quarter worth $33,000. 83.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on TRP shares. The Goldman Sachs Group upped their target price on TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research report on Monday, October 21st. Morgan Stanley raised shares of TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. StockNews.com initiated coverage on TC Energy in a research note on Saturday, October 5th. They issued a “hold” rating on the stock. Veritas raised TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. Finally, UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $48.50.

TC Energy Stock Performance

Shares of TRP opened at $48.45 on Thursday. TC Energy Co. has a 1 year low of $31.83 and a 1 year high of $50.22. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23. The stock’s fifty day moving average price is $46.75 and its two-hundred day moving average price is $42.55. The firm has a market cap of $50.28 billion, a PE ratio of 13.42, a PEG ratio of 4.06 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.70 by $0.06. The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. On average, equities research analysts forecast that TC Energy Co. will post 2.98 EPS for the current 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 issued a $0.822 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.70. This represents a $3.29 annualized dividend and a yield of 6.79%. TC Energy’s dividend payout ratio (DPR) is 78.95%.

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.