Integrated Wealth Concepts LLC Reduces Stock Holdings in TC Energy Co. (NYSE:TRP)

Integrated Wealth Concepts LLC trimmed its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 5.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 37,000 shares of the pipeline company’s stock after selling 2,027 shares during the period. Integrated Wealth Concepts LLC’s holdings in TC Energy were worth $1,722,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of TRP. Norges Bank purchased a new position in TC Energy in the fourth quarter worth about $428,759,000. Mufg Securities Canada LTD. lifted its position in shares of TC Energy by 571.7% during the 4th quarter. Mufg Securities Canada LTD. now owns 6,184,832 shares of the pipeline company’s stock valued at $288,043,000 after buying an additional 5,264,079 shares in the last quarter. FIL Ltd lifted its position in shares of TC Energy by 10.3% during the 4th quarter. FIL Ltd now owns 28,443,403 shares of the pipeline company’s stock valued at $1,325,558,000 after buying an additional 2,644,627 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of TC Energy during the 4th quarter valued at about $102,405,000. Finally, Kayne Anderson Capital Advisors LP lifted its position in shares of TC Energy by 51.4% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 4,842,255 shares of the pipeline company’s stock valued at $225,310,000 after buying an additional 1,644,115 shares in the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. TD Securities assumed coverage on TC Energy in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. StockNews.com cut TC Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Veritas raised TC Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 18th. Citigroup assumed coverage on TC Energy in a report on Friday, April 4th. They issued a “neutral” rating on the stock. Finally, US Capital Advisors raised TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $62.00.

TC Energy Stock Up 1.2 %

Shares of NYSE:TRP opened at $50.22 on Tuesday. The company has a market cap of $52.21 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 4.34 and a beta of 0.74. TC Energy Co. has a 12 month low of $35.38 and a 12 month high of $50.37. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56. The company has a 50-day moving average price of $47.12 and a 200 day moving average price of $47.21.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.54. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. The business had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.42 billion. During the same period last year, the company earned $1.35 EPS. As a group, equities research analysts predict that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.85 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.40 annualized dividend and a dividend yield of 6.77%. This is an increase from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s dividend payout ratio is currently 72.84%.

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.