MassMutual Private Wealth & Trust FSB Sells 982 Shares of TC Energy Co. (NYSE:TRP)

MassMutual Private Wealth & Trust FSB trimmed its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 2.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 46,685 shares of the pipeline company’s stock after selling 982 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in TC Energy were worth $2,172,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC acquired a new position in TC Energy during the third quarter valued at approximately $28,000. Blue Trust Inc. grew its stake 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 last quarter. Versant Capital Management Inc acquired a new position in TC Energy in the 4th quarter valued at $33,000. Point72 DIFC Ltd acquired a new position in TC Energy during the 3rd quarter worth $39,000. Finally, UMB Bank n.a. bought a new stake in TC Energy during the fourth quarter valued at about $47,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TRP has been the subject of several recent analyst reports. Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. BMO Capital Markets boosted their target price on shares of TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. raised shares of TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. Veritas upgraded shares of TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. Finally, UBS Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, TC Energy presently has a consensus rating of “Hold” and an average price target of $55.67.

TC Energy Price Performance

NYSE:TRP opened at $47.39 on Tuesday. The company has a market capitalization of $49.25 billion, a price-to-earnings ratio of 13.13, a PEG ratio of 4.47 and a beta of 0.82. The company has a 50-day moving average of $47.59 and a 200-day moving average of $45.67. TC Energy Co. has a 52 week low of $31.83 and a 52 week high of $50.37. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.83 billion. As a group, equities research analysts anticipate that TC Energy Co. will post 2.95 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $0.822 dividend. This represents a $3.29 dividend on an annualized basis and a yield of 6.94%. This is a boost from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, December 31st. TC Energy’s dividend payout ratio is 63.43%.

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.