TC Energy Co. (NYSE:TRP) Holdings Cut by Advisors Asset Management Inc.

Advisors Asset Management Inc. lowered its holdings in TC Energy Co. (NYSE:TRPGet Rating) (TSE:TRP) by 31.6% during the second quarter, HoldingsChannel.com reports. The fund owned 6,007 shares of the pipeline company’s stock after selling 2,781 shares during the period. Advisors Asset Management Inc.’s holdings in TC Energy were worth $311,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. Vigilant Capital Management LLC bought a new stake in shares of TC Energy during the second quarter valued at approximately $26,000. Prospera Financial Services Inc bought a new stake in shares of TC Energy during the first quarter valued at approximately $33,000. Parallel Advisors LLC raised its holdings in shares of TC Energy by 72.4% during the second quarter. Parallel Advisors LLC now owns 731 shares of the pipeline company’s stock valued at $38,000 after buying an additional 307 shares during the last quarter. Rational Advisors LLC raised its holdings in shares of TC Energy by 57.8% during the first quarter. Rational Advisors LLC now owns 770 shares of the pipeline company’s stock valued at $43,000 after buying an additional 282 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its holdings in shares of TC Energy by 230.0% during the second quarter. First Horizon Advisors Inc. now owns 1,056 shares of the pipeline company’s stock valued at $54,000 after buying an additional 736 shares during the last quarter. Institutional investors own 70.14% of the company’s stock.

TC Energy Trading Down 0.4 %

TC Energy stock opened at $47.84 on Monday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.47 and a current ratio of 0.53. The firm has a market cap of $48.41 billion, a price-to-earnings ratio of 18.91, a price-to-earnings-growth ratio of 3.79 and a beta of 0.80. TC Energy Co. has a 1 year low of $39.11 and a 1 year high of $59.38. The firm’s 50 day moving average price is $44.23 and its two-hundred day moving average price is $49.79.

TC Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Shareholders of record on Friday, December 30th will be given a $0.661 dividend. The ex-dividend date of this dividend is Thursday, December 29th. This represents a $2.64 annualized dividend and a yield of 5.53%. TC Energy’s dividend payout ratio (DPR) is 103.95%.

Analysts Set New Price Targets

TRP has been the topic of a number of recent analyst reports. StockNews.com initiated coverage on TC Energy in a report on Wednesday, October 12th. They set a “hold” rating on the stock. TD Securities raised their price objective on shares of TC Energy from C$75.00 to C$76.00 in a research note on Thursday, August 11th. Scotiabank lowered their price objective on shares of TC Energy from C$76.00 to C$67.00 in a research note on Thursday, October 20th. BMO Capital Markets lowered their price objective on shares of TC Energy from C$76.00 to C$72.00 in a research note on Thursday, August 11th. Finally, Barclays lowered their price objective on shares of TC Energy from C$67.00 to C$65.00 in a research note on Wednesday, October 19th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $67.00.

TC Energy Company Profile

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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 Storage. The company builds and operates 93,300 km network 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.

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Institutional Ownership by Quarter for TC Energy (NYSE:TRP)

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