TC Energy Co. (NYSE:TRP) Position Cut by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd trimmed its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 27.1% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,172 shares of the pipeline company’s stock after selling 809 shares during the quarter. Gulf International Bank UK Ltd’s holdings in TC Energy were worth $101,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of TC Energy by 156.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company’s stock valued at $321,778,000 after purchasing an additional 4,126,801 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new stake in shares of TC Energy during the third quarter valued at about $73,162,000. Merewether Investment Management LP raised its stake in shares of TC Energy by 37.9% during the third quarter. Merewether Investment Management LP now owns 4,097,600 shares of the pipeline company’s stock valued at $194,776,000 after purchasing an additional 1,127,000 shares in the last quarter. Duff & Phelps Investment Management Co. raised its stake in shares of TC Energy by 70.7% during the third quarter. Duff & Phelps Investment Management Co. now owns 1,763,915 shares of the pipeline company’s stock valued at $83,874,000 after purchasing an additional 730,415 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP raised its stake in shares of TC Energy by 29.2% during the third quarter. Kayne Anderson Capital Advisors LP now owns 3,198,140 shares of the pipeline company’s stock valued at $152,072,000 after purchasing an additional 722,619 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TRP has been the topic of a number of recent analyst reports. US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. Veritas upgraded shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. TD Securities initiated coverage on shares of TC Energy in a research report on Wednesday, January 15th. They issued a “buy” rating on the stock. Royal Bank of Canada boosted their price target on shares of TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Finally, StockNews.com upgraded shares of TC Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, TC Energy currently has an average rating of “Moderate Buy” and a consensus price target of $62.00.

TC Energy Trading Up 0.8 %

Shares of TRP opened at $44.69 on Monday. The business’s 50-day moving average price is $46.35 and its 200 day moving average price is $46.71. The stock has a market capitalization of $46.44 billion, a P/E ratio of 13.79, a P/E/G ratio of 4.34 and a beta of 0.81. TC Energy Co. has a 1-year low of $31.83 and a 1-year high of $50.37. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56.

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, topping analysts’ consensus estimates of $0.51 by $0.54. The firm had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.42 billion. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. During the same quarter last year, the business posted $1.35 EPS. Analysts expect that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.85 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.40 dividend on an annualized basis and a yield of 7.61%. This is a boost from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s dividend payout ratio (DPR) is currently 71.91%.

TC Energy Company 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.