CNB Bank Reduces Stake in TC Energy Co. (NYSE:TRP)

CNB Bank lessened its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 18.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,147 shares of the pipeline company’s stock after selling 1,136 shares during the period. CNB Bank’s holdings in TC Energy were worth $239,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Captrust Financial Advisors lifted its holdings in TC Energy by 1.3% in the third quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock valued at $871,000 after acquiring an additional 242 shares during the last quarter. Prospera Financial Services Inc grew its holdings in shares of TC Energy by 4.8% during the 3rd quarter. Prospera Financial Services Inc now owns 5,754 shares of the pipeline company’s stock worth $274,000 after purchasing an additional 262 shares during the period. First Horizon Advisors Inc. increased its position in shares of TC Energy by 8.1% during the 3rd quarter. First Horizon Advisors Inc. now owns 3,505 shares of the pipeline company’s stock worth $167,000 after purchasing an additional 264 shares during the last quarter. Blue Trust Inc. raised its holdings in TC Energy by 72.0% in the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after buying an additional 267 shares during the period. Finally, Cohen Investment Advisors LLC lifted its position in TC Energy by 2.9% in the fourth quarter. Cohen Investment Advisors LLC now owns 9,831 shares of the pipeline company’s stock valued at $457,000 after buying an additional 279 shares during the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TRP has been the subject of a number of recent analyst reports. Veritas upgraded shares of TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. TD Securities began coverage on TC Energy in a research report on Wednesday. They issued a “buy” rating on the stock. The Goldman Sachs Group lifted their price objective on TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research note on Monday, October 21st. BMO Capital Markets raised their target price on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. raised shares of TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, TC Energy presently has an average rating of “Hold” and an average price target of $55.67.

TC Energy Trading Up 0.7 %

TRP opened at $46.51 on Friday. The firm has a market cap of $48.31 billion, a price-to-earnings ratio of 12.85, a price-to-earnings-growth ratio of 4.31 and a beta of 0.82. TC Energy Co. has a 52 week low of $31.83 and a 52 week high of $50.37. The business’s 50 day moving average is $47.68 and its two-hundred day moving average is $45.49. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.06. The firm had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.83 billion. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. On average, research analysts predict that TC Energy Co. will post 2.95 EPS for the current year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a $0.822 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $3.29 dividend on an annualized basis and a dividend yield of 7.07%. This is a boost from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s dividend payout ratio (DPR) is currently 63.43%.

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.