Snowden Capital Advisors LLC Sells 925 Shares of TC Energy Co. (NYSE:TRP)

Snowden Capital Advisors LLC lessened its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 6.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 12,424 shares of the pipeline company’s stock after selling 925 shares during the period. Snowden Capital Advisors LLC’s holdings in TC Energy were worth $586,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the stock. NTV Asset Management LLC lifted its stake in shares of TC Energy by 4.0% during the 4th quarter. NTV Asset Management LLC now owns 6,189 shares of the pipeline company’s stock worth $288,000 after buying an additional 239 shares during the last quarter. Lee Financial Co lifted its stake in shares of TC Energy by 3.1% during the 4th quarter. Lee Financial Co now owns 8,185 shares of the pipeline company’s stock worth $381,000 after buying an additional 246 shares during the last quarter. IFP Advisors Inc lifted its stake in shares of TC Energy by 7.0% during the 4th quarter. IFP Advisors Inc now owns 3,809 shares of the pipeline company’s stock worth $177,000 after buying an additional 249 shares during the last quarter. Benjamin Edwards Inc. lifted its stake in shares of TC Energy by 1.7% during the 4th quarter. Benjamin Edwards Inc. now owns 16,003 shares of the pipeline company’s stock worth $745,000 after buying an additional 273 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its stake in shares of TC Energy by 7.2% during the 4th quarter. Global Retirement Partners LLC now owns 4,099 shares of the pipeline company’s stock worth $191,000 after buying an additional 274 shares during the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Price Performance

Shares of TC Energy stock opened at $50.10 on Wednesday. TC Energy Co. has a twelve month low of $37.07 and a twelve month high of $51.34. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56. The company has a 50-day simple moving average of $48.55 and a two-hundred day simple moving average of $47.52. The stock has a market capitalization of $52.09 billion, a price-to-earnings ratio of 15.46, a price-to-earnings-growth ratio of 4.34 and a beta of 0.78.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Thursday, May 1st. The pipeline company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.04). TC Energy had a return on equity of 12.12% and a net margin of 29.40%. The business had revenue of $1.78 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same quarter last year, the firm earned $1.02 EPS. Analysts forecast that TC Energy Co. will post 2.63 EPS for the current year.

TC Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a $0.6142 dividend. This represents a $2.46 annualized dividend and a yield of 4.90%. The ex-dividend date of this dividend is Monday, June 30th. TC Energy’s dividend payout ratio is currently 77.89%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on TRP shares. US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. Royal Bank of Canada raised their target price on shares of TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. CIBC upgraded shares of TC Energy from a “neutral” rating to a “sector outperform” rating in a research note on Friday, May 2nd. Cibc World Mkts upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 2nd. Finally, Veritas upgraded shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $62.00.

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.