CIBC Private Wealth Group LLC Decreases Holdings in TC Energy Co. (NYSE:TRP)

CIBC Private Wealth Group LLC decreased its holdings in TC Energy Co. (NYSE:TRPFree Report) (TSE:TRP) by 1.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 361,941 shares of the pipeline company’s stock after selling 3,589 shares during the period. CIBC Private Wealth Group LLC’s holdings in TC Energy were worth $14,148,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Canoe Financial LP lifted its stake in TC Energy by 781.8% in the fourth quarter. Canoe Financial LP now owns 704,176 shares of the pipeline company’s stock worth $27,526,000 after purchasing an additional 624,316 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in TC Energy by 29,994.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 309,376 shares of the pipeline company’s stock valued at $12,094,000 after acquiring an additional 308,348 shares during the period. Addenda Capital Inc. grew its position in TC Energy by 2.5% during the 4th quarter. Addenda Capital Inc. now owns 1,089,146 shares of the pipeline company’s stock worth $42,575,000 after acquiring an additional 26,711 shares during the last quarter. Morgan Stanley increased its stake in TC Energy by 42.5% in the 3rd quarter. Morgan Stanley now owns 6,821,231 shares of the pipeline company’s stock worth $234,719,000 after purchasing an additional 2,034,846 shares during the period. Finally, International Assets Investment Management LLC bought a new stake in TC Energy in the fourth quarter valued at approximately $2,050,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TRP. Jefferies Financial Group initiated coverage on shares of TC Energy in a report on Tuesday, February 27th. They issued a “hold” rating on the stock. TheStreet raised shares of TC Energy from a “c+” rating to a “b-” rating in a report on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, TC Energy currently has a consensus rating of “Hold” and a consensus target price of $48.83.

View Our Latest Report on TRP

TC Energy Trading Up 3.1 %

NYSE:TRP opened at $39.81 on Thursday. The company has a 50-day moving average price of $37.74 and a 200-day moving average price of $38.62. The stock has a market cap of $39.81 billion, a price-to-earnings ratio of 20.52, a P/E/G ratio of 3.23 and a beta of 0.79. The company has a current ratio of 0.94, a quick ratio of 0.85 and a debt-to-equity ratio of 1.64. TC Energy Co. has a 12 month low of $32.51 and a 12 month high of $41.85.

TC Energy (NYSE:TRPGet Free Report) (TSE:TRP) last issued its quarterly earnings data on Friday, May 3rd. The pipeline company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.83 by $0.09. TC Energy had a net margin of 17.23% and a return on equity of 17.94%. The business had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.12 billion. Equities analysts predict that TC Energy Co. will post 2.99 EPS for the current year.

TC Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be paid a $0.71 dividend. The ex-dividend date is Friday, June 28th. This represents a $2.84 annualized dividend and a yield of 7.13%. TC Energy’s payout ratio is 145.88%.

About TC Energy

(Free Report)

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.

Further Reading

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

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