HighTower Advisors LLC Decreases Holdings in TC Energy Corporation $TRP

HighTower Advisors LLC cut its holdings in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 3.5% during the 4th quarter, HoldingsChannel reports. The fund owned 346,374 shares of the pipeline company’s stock after selling 12,636 shares during the quarter. HighTower Advisors LLC’s holdings in TC Energy were worth $19,054,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Trust Co. of Vermont purchased a new position in shares of TC Energy in the fourth quarter worth $28,000. McIlrath & Eck LLC purchased a new position in shares of TC Energy in the fourth quarter worth $32,000. Westside Investment Management Inc. increased its stake in shares of TC Energy by 100.0% in the third quarter. Westside Investment Management Inc. now owns 594 shares of the pipeline company’s stock worth $32,000 after buying an additional 297 shares during the period. SWAN Capital LLC purchased a new position in shares of TC Energy in the third quarter worth $40,000. Finally, Smartleaf Asset Management LLC increased its stake in shares of TC Energy by 237.4% in the third quarter. Smartleaf Asset Management LLC now owns 803 shares of the pipeline company’s stock worth $43,000 after buying an additional 565 shares during the period. 83.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on TRP shares. BMO Capital Markets reaffirmed an “outperform” rating on shares of TC Energy in a research note on Monday, May 4th. Morgan Stanley reaffirmed an “overweight” rating on shares of TC Energy in a research note on Wednesday, January 28th. Royal Bank Of Canada lifted their target price on shares of TC Energy from $92.00 to $95.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Barclays reaffirmed an “overweight” rating on shares of TC Energy in a research note on Monday, May 4th. Finally, Citigroup reaffirmed a “neutral” rating on shares of TC Energy in a research note on Thursday, February 19th. One investment 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 MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.50.

TC Energy Stock Performance

Shares of TRP stock opened at $70.82 on Friday. TC Energy Corporation has a 12 month low of $46.29 and a 12 month high of $71.47. The stock has a market cap of $70.82 billion, a PE ratio of 30.74 and a beta of 0.67. The company has a current ratio of 0.65, a quick ratio of 0.57 and a debt-to-equity ratio of 1.67. The company’s fifty day moving average price is $64.23 and its 200-day moving average price is $59.42.

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

TC Energy Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.51 dividend on an annualized basis and a yield of 5.0%. TC Energy’s payout ratio is 112.17%.

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.