HighPoint Advisor Group LLC Sells 317 Shares of TC Energy Co. (NYSE:TRP)

HighPoint Advisor Group LLC reduced its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 5.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,013 shares of the pipeline company’s stock after selling 317 shares during the quarter. HighPoint Advisor Group LLC’s holdings in TC Energy were worth $284,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TRP. NTV Asset Management LLC boosted its position in shares of TC Energy by 4.0% in the 4th quarter. NTV Asset Management LLC now owns 6,189 shares of the pipeline company’s stock worth $288,000 after purchasing an additional 239 shares during the last quarter. Captrust Financial Advisors boosted its holdings in TC Energy by 1.3% during the third quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock worth $871,000 after buying an additional 242 shares during the last quarter. Lee Financial Co grew its position in shares of TC Energy by 3.1% during the 4th quarter. Lee Financial Co now owns 8,185 shares of the pipeline company’s stock worth $381,000 after buying an additional 246 shares during the period. IFP Advisors Inc increased its stake in shares of TC Energy by 7.0% in the 4th quarter. IFP Advisors Inc now owns 3,809 shares of the pipeline company’s stock valued at $177,000 after acquiring an additional 249 shares during the last quarter. Finally, Global Retirement Partners LLC raised its position in shares of TC Energy by 7.2% in the 4th quarter. Global Retirement Partners LLC now owns 4,099 shares of the pipeline company’s stock valued at $191,000 after acquiring an additional 274 shares during the period. 83.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on TRP. Royal Bank of Canada boosted their price objective on shares of TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. StockNews.com lowered TC Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. TD Securities initiated coverage on TC Energy in a report on Wednesday, January 15th. They issued a “buy” rating for the company. Finally, Veritas upgraded TC Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

TC Energy Stock Performance

TRP opened at $48.75 on Friday. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23. The company has a market capitalization of $50.66 billion, a price-to-earnings ratio of 15.05, a P/E/G ratio of 4.34 and a beta of 0.83. The business’s 50-day moving average price is $46.60 and its two-hundred day moving average price is $46.99. TC Energy Co. has a 1 year low of $34.95 and a 1 year high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.54. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.42 billion. During the same quarter last year, the firm earned $1.35 EPS. Equities analysts expect that TC Energy Co. will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 6.97%. The ex-dividend date is Monday, March 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s payout ratio is currently 72.53%.

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.