Geneos Wealth Management Inc. Reduces Holdings in TC Energy Co. (NYSE:TRP)

Geneos Wealth Management Inc. reduced its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 86.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,271 shares of the pipeline company’s stock after selling 8,028 shares during the period. Geneos Wealth Management Inc.’s holdings in TC Energy were worth $50,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TRP. ICA Group Wealth Management LLC raised its stake in TC Energy by 23.8% in the 1st quarter. ICA Group Wealth Management LLC now owns 1,450 shares of the pipeline company’s stock valued at $56,000 after purchasing an additional 279 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of TC Energy by 14.2% in the third quarter. EverSource Wealth Advisors LLC now owns 2,315 shares of the pipeline company’s stock valued at $80,000 after buying an additional 288 shares during the last quarter. Boothbay Fund Management LLC lifted its stake in shares of TC Energy by 1.0% during the second quarter. Boothbay Fund Management LLC now owns 31,537 shares of the pipeline company’s stock valued at $1,274,000 after buying an additional 300 shares during the period. AdvisorNet Financial Inc boosted its position in TC Energy by 25.8% during the fourth quarter. AdvisorNet Financial Inc now owns 1,483 shares of the pipeline company’s stock worth $58,000 after acquiring an additional 304 shares during the last quarter. Finally, Atria Investments Inc grew its stake in TC Energy by 0.7% in the 3rd quarter. Atria Investments Inc now owns 46,620 shares of the pipeline company’s stock worth $1,604,000 after acquiring an additional 317 shares during the period. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TRP. Jefferies Financial Group began coverage on TC Energy in a research note on Tuesday, February 27th. They set a “hold” rating on the stock. The Goldman Sachs Group lifted their price target on TC Energy from $29.00 to $32.00 and gave the company a “sell” rating in a report on Friday, January 26th. Stifel Nicolaus began coverage on shares of TC Energy in a report on Thursday, January 18th. They set a “buy” rating on the stock. TheStreet upgraded shares of TC Energy from a “c+” rating to a “b-” rating in a report on Wednesday, March 20th. Finally, Barclays increased their price target on shares of TC Energy from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Monday, January 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $48.83.

TC Energy Stock Performance

TC Energy stock opened at $35.18 on Wednesday. TC Energy Co. has a 12-month low of $32.51 and a 12-month high of $42.49. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.96 and a quick ratio of 0.88. The company has a market capitalization of $35.18 billion, a price-to-earnings ratio of 17.33, a price-to-earnings-growth ratio of 3.01 and a beta of 0.75. The firm’s fifty day moving average price is $39.20 and its 200 day moving average price is $37.98.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Friday, February 16th. The pipeline company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.20. TC Energy had a return on equity of 18.60% and a net margin of 18.25%. The business had revenue of $3.11 billion for the quarter, compared to analyst estimates of $2.93 billion. On average, research analysts forecast that TC Energy Co. will post 2.99 EPS for the current fiscal year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued a $0.714 dividend. The ex-dividend date is Wednesday, March 27th. This is a boost from TC Energy’s previous quarterly dividend of $0.67. This represents a $2.86 annualized dividend and a yield of 8.12%. TC Energy’s dividend payout ratio is currently 139.41%.

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 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.