Comerica Bank decreased its position in TC Energy Co. (NYSE:TRP – Get Rating) (TSE:TRP) by 1.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,521 shares of the pipeline company’s stock after selling 373 shares during the period. Comerica Bank’s holdings in TC Energy were worth $1,592,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the company. Parkwood LLC raised its holdings in shares of TC Energy by 1.9% in the 2nd quarter. Parkwood LLC now owns 26,025 shares of the pipeline company’s stock worth $26,000 after buying an additional 492 shares in the last quarter. EdgeRock Capital LLC acquired a new position in shares of TC Energy in the 3rd quarter worth approximately $26,000. GPS Wealth Strategies Group LLC raised its holdings in shares of TC Energy by 53.6% in the 3rd quarter. GPS Wealth Strategies Group LLC now owns 777 shares of the pipeline company’s stock worth $31,000 after buying an additional 271 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of TC Energy by 72.4% in the 2nd quarter. Parallel Advisors LLC now owns 731 shares of the pipeline company’s stock worth $38,000 after buying an additional 307 shares in the last quarter. Finally, CoreCap Advisors LLC acquired a new position in shares of TC Energy in the 2nd quarter worth approximately $40,000. Institutional investors and hedge funds own 71.86% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on TRP. Wells Fargo & Company cut TC Energy from an “equal weight” rating to an “underweight” rating in a report on Friday, December 16th. BMO Capital Markets dropped their price target on TC Energy from C$70.00 to C$68.00 in a report on Wednesday, November 30th. Raymond James raised TC Energy from a “market perform” rating to an “outperform” rating in a report on Friday, January 6th. Royal Bank of Canada dropped their price target on TC Energy from C$75.00 to C$73.00 in a report on Wednesday, November 30th. Finally, Scotiabank decreased their price objective on TC Energy from C$76.00 to C$67.00 in a research report on Thursday, October 20th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $67.73.
TC Energy Stock Up 1.0 %
TC Energy (NYSE:TRP – Get Rating) (TSE:TRP) last posted its quarterly earnings results on Wednesday, November 9th. The pipeline company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.07. TC Energy had a return on equity of 13.98% and a net margin of 22.89%. The business had revenue of $2.91 billion for the quarter. Equities research analysts expect that TC Energy Co. will post 3.17 earnings per share for the current year.
TC Energy Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 31st. Investors of record on Friday, December 30th will be paid a dividend of $0.661 per share. This represents a $2.64 annualized dividend and a yield of 6.09%. The ex-dividend date is Thursday, December 29th. TC Energy’s payout ratio is presently 105.14%.
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 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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