Venture Visionary Partners LLC Cuts Stake in TC Energy Co. (NYSE:TRP)

Venture Visionary Partners LLC cut its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 11.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,810 shares of the pipeline company’s stock after selling 621 shares during the quarter. Venture Visionary Partners LLC’s holdings in TC Energy were worth $229,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. raised 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 purchasing an additional 267 shares during the last quarter. Baskin Financial Services Inc. purchased a new stake in TC Energy during the 3rd quarter valued at about $282,000. Creative Planning lifted its stake in TC Energy by 4.1% in the 3rd quarter. Creative Planning now owns 46,779 shares of the pipeline company’s stock worth $2,224,000 after purchasing an additional 1,829 shares in the last quarter. Procyon Advisors LLC grew its position in shares of TC Energy by 4.0% in the third quarter. Procyon Advisors LLC now owns 12,847 shares of the pipeline company’s stock valued at $611,000 after purchasing an additional 491 shares in the last quarter. Finally, Viking Fund Management LLC lifted its position in TC Energy by 3.0% during the third quarter. Viking Fund Management LLC now owns 157,000 shares of the pipeline company’s stock worth $7,465,000 after buying an additional 4,600 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Stock Performance

NYSE:TRP opened at $46.95 on Thursday. The stock has a market capitalization of $46.95 billion, a P/E ratio of 24.20, a PEG ratio of 3.98 and a beta of 0.81. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.68 and a current ratio of 0.76. TC Energy Co. has a fifty-two week low of $30.61 and a fifty-two week high of $48.25. The company has a 50 day moving average price of $46.08 and a 200 day moving average price of $41.40.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.29. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. The business had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.78 billion. During the same period in the previous year, the firm posted $0.71 earnings per share. Equities research analysts forecast that TC Energy Co. will post 3.02 EPS for the current year.

TC Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be given a dividend of $0.702 per share. The ex-dividend date is Friday, September 27th. This represents a $2.81 annualized dividend and a dividend yield of 5.98%. TC Energy’s dividend payout ratio is presently 146.39%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. StockNews.com began coverage on TC Energy in a report on Saturday, October 5th. They set a “hold” rating on the stock. JPMorgan Chase & Co. upgraded shares of TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. UBS Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. The Goldman Sachs Group upped their price objective on TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a report on Monday. Finally, Barclays upgraded TC Energy from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $48.50.

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.