TC Energy Co. (NYSE:TRP) Shares Purchased by Park Avenue Securities LLC

Park Avenue Securities LLC increased its stake in shares of TC Energy Co. (NYSE:TRPGet Rating) (TSE:TRP) by 14.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,858 shares of the pipeline company’s stock after purchasing an additional 1,103 shares during the quarter. Park Avenue Securities LLC’s holdings in TC Energy were worth $359,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Stephens Inc. AR lifted its holdings in shares of TC Energy by 1.3% during the second quarter. Stephens Inc. AR now owns 15,725 shares of the pipeline company’s stock worth $815,000 after purchasing an additional 207 shares during the period. Rempart Asset Management Inc. lifted its holdings in shares of TC Energy by 2.8% during the third quarter. Rempart Asset Management Inc. now owns 9,213 shares of the pipeline company’s stock worth $371,000 after purchasing an additional 253 shares during the period. GSB Wealth Management LLC lifted its holdings in shares of TC Energy by 4.0% during the third quarter. GSB Wealth Management LLC now owns 6,810 shares of the pipeline company’s stock worth $274,000 after purchasing an additional 260 shares during the period. GPS Wealth Strategies Group LLC lifted its holdings in shares of TC Energy by 53.6% during the third quarter. GPS Wealth Strategies Group LLC now owns 777 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 271 shares during the period. Finally, Ronald Blue Trust Inc. lifted its holdings in shares of TC Energy by 13.8% during the third quarter. Ronald Blue Trust Inc. now owns 2,277 shares of the pipeline company’s stock worth $118,000 after purchasing an additional 276 shares during the period. 71.86% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on TRP shares. Royal Bank of Canada reduced their target price on TC Energy from C$75.00 to C$73.00 in a report on Wednesday, November 30th. BMO Capital Markets reduced their target price 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. Wells Fargo & Company downgraded TC Energy from an “equal weight” rating to an “underweight” rating in a report on Friday, December 16th. Finally, Scotiabank reduced their target price on TC Energy from C$76.00 to C$67.00 in a 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 MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $67.73.

TC Energy Trading Up 1.0 %

NYSE:TRP opened at $43.42 on Monday. The company has a market capitalization of $44.20 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 3.42 and a beta of 0.80. The company has a quick ratio of 0.47, a current ratio of 0.53 and a debt-to-equity ratio of 1.54. TC Energy Co. has a 52-week low of $38.35 and a 52-week high of $59.38. The stock has a fifty day simple moving average of $43.03 and a 200-day simple moving average of $45.84.

TC Energy (NYSE:TRPGet Rating) (TSE:TRP) last released 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. The business had revenue of $2.91 billion during the quarter. TC Energy had a return on equity of 13.98% and a net margin of 22.89%. On average, equities research analysts expect that TC Energy Co. will post 3.17 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 31st. Investors of record on Friday, December 30th will be given a dividend of $0.661 per share. This represents a $2.64 dividend on an annualized basis and a yield of 6.09%. The ex-dividend date of this dividend is Thursday, December 29th. TC Energy’s dividend payout ratio is presently 105.14%.

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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