Citigroup Inc. Trims Position in TC Energy Co. (NYSE:TRP)

Citigroup Inc. lessened its position in shares of TC Energy Co. (NYSE:TRP – Get Rating) (TSE:TRP) by 1.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 106,919 shares of the pipeline company’s stock after selling 1,412 shares during the quarter. Citigroup Inc.’s holdings in TC Energy were worth $4,260,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. American Century Companies Inc. grew its holdings in TC Energy by 4.4% during the first quarter. American Century Companies Inc. now owns 27,957 shares of the pipeline company’s stock valued at $1,577,000 after purchasing an additional 1,188 shares during the period. Cetera Advisor Networks LLC grew its holdings in TC Energy by 6.0% during the first quarter. Cetera Advisor Networks LLC now owns 5,664 shares of the pipeline company’s stock valued at $320,000 after purchasing an additional 323 shares during the period. BlackRock Inc. grew its holdings in TC Energy by 43.9% during the first quarter. BlackRock Inc. now owns 878,551 shares of the pipeline company’s stock valued at $49,567,000 after purchasing an additional 267,934 shares during the period. Sei Investments Co. grew its holdings in TC Energy by 40.4% during the first quarter. Sei Investments Co. now owns 110,816 shares of the pipeline company’s stock valued at $6,252,000 after purchasing an additional 31,882 shares during the period. Finally, Vanguard Group Inc. grew its holdings in TC Energy by 3.1% during the first quarter. Vanguard Group Inc. now owns 33,256,822 shares of the pipeline company’s stock valued at $1,876,349,000 after purchasing an additional 993,965 shares during the period. Hedge funds and other institutional investors own 71.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on TRP shares. National Bank Financial cut their price target on TC Energy from C$56.00 to C$53.00 in a report on Thursday, February 2nd. BMO Capital Markets cut their target price on TC Energy from C$66.00 to C$64.00 in a research report on Thursday, February 2nd. StockNews.com began coverage on TC Energy in a research report on Thursday. They set a “hold” rating for the company. TheStreet upgraded TC Energy from a “c” rating to a “b-” rating in a research report on Friday, April 28th. Finally, Scotiabank cut their target price on TC Energy from C$67.00 to C$66.00 in a research report on Thursday, February 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $63.06.

TC Energy Stock Performance

NYSE TRP opened at $40.26 on Friday. The stock has a market capitalization of $41.45 billion, a PE ratio of 32.21, a P/E/G ratio of 3.28 and a beta of 0.84. The business has a 50 day simple moving average of $40.28 and a two-hundred day simple moving average of $41.83. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.74 and a quick ratio of 0.67. TC Energy Co. has a 1-year low of $36.79 and a 1-year high of $59.38.

TC Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Friday, June 30th will be issued a dividend of $0.688 per share. This represents a $2.75 annualized dividend and a yield of 6.84%. The ex-dividend date is Thursday, June 29th. TC Energy’s dividend payout ratio is presently 220.00%.

TC Energy Company Profile

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TC Energy Corporation engages in the provision of energy infrastructure services. It operates through the following business segments: Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, Power and Energy Solutions, and Corporate. The Canadian Natural Gas Pipelines segment consists of regulated natural gas pipelines.