HighTower Advisors LLC Sells 9,483 Shares of TC Energy Co. (NYSE:TRP)

HighTower Advisors LLC decreased its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 2.3% during the 4th quarter, Holdings Channel reports. The firm owned 401,220 shares of the pipeline company’s stock after selling 9,483 shares during the quarter. HighTower Advisors LLC’s holdings in TC Energy were worth $18,669,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Addenda Capital Inc. boosted its holdings in TC Energy by 4.4% in the fourth quarter. Addenda Capital Inc. now owns 1,034,497 shares of the pipeline company’s stock worth $48,135,000 after acquiring an additional 43,639 shares in the last quarter. Captrust Financial Advisors boosted its holdings in TC Energy by 1.3% in the third quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock worth $871,000 after acquiring an additional 242 shares in the last quarter. Ritholtz Wealth Management boosted its holdings in TC Energy by 44.8% in the fourth quarter. Ritholtz Wealth Management now owns 23,957 shares of the pipeline company’s stock worth $1,115,000 after acquiring an additional 7,412 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of TC Energy in the third quarter valued at approximately $3,771,000. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of TC Energy by 7.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,034,698 shares of the pipeline company’s stock valued at $48,144,000 after purchasing an additional 71,955 shares in the last quarter. Institutional investors own 83.13% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on TRP shares. BMO Capital Markets raised their target price on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. Royal Bank of Canada raised their target price on TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. StockNews.com lowered TC Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Finally, TD Securities initiated coverage on TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating for the company. One analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $62.00.

TC Energy Stock Performance

NYSE:TRP opened at $47.20 on Friday. The company has a market capitalization of $49.04 billion, a P/E ratio of 14.57, a P/E/G ratio of 4.34 and a beta of 0.83. TC Energy Co. has a 1 year low of $34.95 and a 1 year high of $50.37. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23. The business has a fifty day simple moving average of $46.25 and a two-hundred day simple moving average of $46.79.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.54. The company had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.42 billion. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. During the same period in the previous year, the business earned $1.35 earnings per share. On average, analysts expect that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a dividend of $0.85 per share. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.40 annualized dividend and a yield of 7.20%. TC Energy’s dividend payout ratio (DPR) is currently 72.53%.

TC Energy Profile

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.