Laird Norton Wetherby Wealth Management LLC Lowers Stake in TC Energy Co. (NYSE:TRP)

Laird Norton Wetherby Wealth Management LLC reduced its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 5.0% in the fourth quarter, HoldingsChannel reports. The fund owned 9,790 shares of the pipeline company’s stock after selling 517 shares during the period. Laird Norton Wetherby Wealth Management LLC’s holdings in TC Energy were worth $456,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in TC Energy by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 43,687,141 shares of the pipeline company’s stock valued at $2,035,952,000 after acquiring an additional 734,678 shares during the period. FIL Ltd lifted its position in TC Energy by 10.3% during the 4th quarter. FIL Ltd now owns 28,443,403 shares of the pipeline company’s stock valued at $1,325,558,000 after acquiring an additional 2,644,627 shares during the period. TD Asset Management Inc. lifted its position in TC Energy by 2.1% during the 4th quarter. TD Asset Management Inc. now owns 16,437,150 shares of the pipeline company’s stock valued at $765,627,000 after acquiring an additional 344,485 shares during the period. Canada Pension Plan Investment Board lifted its position in TC Energy by 9.5% during the 4th quarter. Canada Pension Plan Investment Board now owns 14,755,330 shares of the pipeline company’s stock valued at $686,763,000 after acquiring an additional 1,280,000 shares during the period. Finally, Norges Bank purchased a new position in TC Energy in the fourth quarter worth about $428,759,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Stock Performance

Shares of TRP stock opened at $49.92 on Friday. The company has a 50 day moving average price of $48.36 and a 200-day moving average price of $47.45. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56. The firm has a market capitalization of $51.90 billion, a PE ratio of 15.41, a P/E/G ratio of 4.34 and a beta of 0.78. TC Energy Co. has a 52 week low of $37.07 and a 52 week high of $51.34.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Thursday, May 1st. The pipeline company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.04). The business had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $2.57 billion. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. During the same quarter last year, the firm posted $1.02 earnings per share. As a group, equities research analysts expect that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a $0.6142 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 4.92%. TC Energy’s payout ratio is currently 77.89%.

Analyst Ratings Changes

Several brokerages have issued reports on TRP. US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. Veritas raised shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 18th. Citigroup began coverage on shares of TC Energy in a report on Friday, April 4th. They issued a “neutral” rating for the company. Cibc World Mkts raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a report on Friday, May 2nd. Finally, StockNews.com lowered shares of TC Energy from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, TC Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

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.