Wrapmanager Inc. Lowers Stock Position in TC Energy Co. (NYSE:TRP)

Wrapmanager Inc. decreased its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 9.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 5,409 shares of the pipeline company’s stock after selling 570 shares during the period. Wrapmanager Inc.’s holdings in TC Energy were worth $252,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. IFP Advisors Inc boosted its stake in shares of TC Energy by 7.0% during the 4th quarter. IFP Advisors Inc now owns 3,809 shares of the pipeline company’s stock worth $177,000 after acquiring an additional 249 shares in the last quarter. Atlantic Family Wealth LLC purchased a new stake in shares of TC Energy during the 4th quarter worth approximately $251,000. Lipe & Dalton boosted its stake in shares of TC Energy by 1.9% during the 4th quarter. Lipe & Dalton now owns 53,657 shares of the pipeline company’s stock worth $2,497,000 after acquiring an additional 980 shares in the last quarter. Bell Bank boosted its stake in shares of TC Energy by 14.3% during the 4th quarter. Bell Bank now owns 175,742 shares of the pipeline company’s stock worth $8,177,000 after acquiring an additional 21,970 shares in the last quarter. Finally, Arcadia Investment Management Corp MI purchased a new stake in shares of TC Energy during the 4th quarter worth approximately $93,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on TRP shares. TD Securities started coverage on TC Energy in a research note on Wednesday, January 15th. They set a “buy” rating on the stock. StockNews.com upgraded TC Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. Royal Bank of Canada lifted their price objective on TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Finally, BMO Capital Markets lifted their price objective on TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $62.00.

TC Energy Trading Down 0.1 %

Shares of TRP opened at $44.28 on Wednesday. The stock has a fifty day moving average of $46.41 and a two-hundred day moving average of $46.70. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55. The company has a market capitalization of $46.01 billion, a PE ratio of 13.67, a price-to-earnings-growth ratio of 4.34 and a beta of 0.81. TC Energy Co. has a fifty-two week low of $31.83 and a fifty-two week high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.54. The company had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.42 billion. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. During the same period in the previous year, the firm posted $1.35 EPS. As a group, analysts forecast that TC Energy Co. will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from TC Energy’s previous quarterly dividend of $0.82. This represents a $3.40 annualized dividend and a dividend yield of 7.68%. TC Energy’s payout ratio is currently 71.91%.

TC Energy 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.