Commonwealth Equity Services LLC Sells 10,416 Shares of TC Energy Corporation $TRP

Commonwealth Equity Services LLC lowered its holdings in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 9.7% during the fourth quarter, Holdings Channel reports. The firm owned 96,827 shares of the pipeline company’s stock after selling 10,416 shares during the period. Commonwealth Equity Services LLC’s holdings in TC Energy were worth $5,326,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Lansforsakringar Fondforvaltning AB publ raised its holdings in shares of TC Energy by 1.3% during the 4th quarter. Lansforsakringar Fondforvaltning AB publ now owns 237,797 shares of the pipeline company’s stock valued at $13,112,000 after purchasing an additional 2,987 shares in the last quarter. Bradley Foster & Sargent Inc. CT grew its stake in TC Energy by 102.0% in the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 400,932 shares of the pipeline company’s stock valued at $22,055,000 after buying an additional 202,464 shares during the last quarter. CIBC Private Wealth Group LLC grew its stake in TC Energy by 1.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 386,745 shares of the pipeline company’s stock valued at $21,275,000 after buying an additional 5,542 shares during the last quarter. Brown Brothers Harriman & Co. grew its stake in TC Energy by 12.4% in the 4th quarter. Brown Brothers Harriman & Co. now owns 9,753 shares of the pipeline company’s stock valued at $537,000 after buying an additional 1,074 shares during the last quarter. Finally, Alps Advisors Inc. grew its stake in TC Energy by 25.1% in the 4th quarter. Alps Advisors Inc. now owns 20,986 shares of the pipeline company’s stock valued at $1,154,000 after buying an additional 4,209 shares during the last quarter. Institutional investors own 83.13% of the company’s stock.

TC Energy Stock Performance

NYSE TRP opened at $68.73 on Friday. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.65 and a quick ratio of 0.57. The firm has a market capitalization of $68.73 billion, a price-to-earnings ratio of 29.83 and a beta of 0.66. The company’s fifty day moving average is $65.10 and its two-hundred day moving average is $60.52. TC Energy Corporation has a 52-week low of $46.29 and a 52-week high of $71.47.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Friday, May 1st. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.02. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.20 billion. TC Energy had a net margin of 22.22% and a return on equity of 10.74%. During the same period last year, the business posted $0.95 EPS. Equities research analysts forecast that TC Energy Corporation will post 2.75 EPS for the current year.

TC Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be given a $0.8775 dividend. This represents a $3.51 annualized dividend and a yield of 5.1%. The ex-dividend date is Tuesday, June 30th. TC Energy’s dividend payout ratio (DPR) is currently 109.57%.

Analyst Ratings Changes

TRP has been the topic of a number of research analyst reports. Citigroup reiterated a “neutral” rating on shares of TC Energy in a research note on Thursday, February 19th. Royal Bank Of Canada raised their target price on shares of TC Energy from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. TD Securities reiterated a “hold” rating on shares of TC Energy in a research note on Monday, May 4th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of TC Energy in a research note on Tuesday, May 26th. Finally, Wells Fargo & Company reiterated an “overweight” rating on shares of TC Energy in a research note on Monday, February 16th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $78.50.

TC Energy Profile

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long?distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.