Infrastructure Capital Advisors LLC reduced its position in shares of TC Energy Corporation (NYSE:TRP – Free Report) (TSE:TRP) by 50.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 25,000 shares of the pipeline company’s stock after selling 25,000 shares during the quarter. Infrastructure Capital Advisors LLC’s holdings in TC Energy were worth $1,375,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of TRP. Annis Gardner Whiting Capital Advisors LLC bought a new stake in TC Energy during the 4th quarter valued at about $25,000. Trust Co. of Vermont bought a new stake in TC Energy during the 4th quarter valued at about $28,000. McIlrath & Eck LLC bought a new stake in TC Energy during the 4th quarter valued at about $32,000. SWAN Capital LLC bought a new stake in TC Energy during the 3rd quarter valued at about $40,000. Finally, Smartleaf Asset Management LLC increased its stake in TC Energy by 237.4% during the 3rd quarter. Smartleaf Asset Management LLC now owns 803 shares of the pipeline company’s stock valued at $43,000 after purchasing an additional 565 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors.
TC Energy Stock Performance
Shares of NYSE TRP opened at $67.93 on Thursday. The firm’s 50-day moving average price is $66.02 and its 200-day moving average price is $61.39. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 1.67. The company has a market cap of $67.93 billion, a PE ratio of 29.48 and a beta of 0.66. TC Energy Corporation has a 52-week low of $46.29 and a 52-week high of $71.47.
TC Energy Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be issued a $0.8775 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.2%. TC Energy’s dividend payout ratio (DPR) is presently 109.57%.
Wall Street Analyst Weigh In
A number of research firms have weighed in on TRP. Morgan Stanley lowered shares of TC Energy from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, June 10th. Royal Bank Of Canada raised their price objective on shares of TC Energy from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Weiss Ratings downgraded shares of TC Energy from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 4th. BMO Capital Markets reaffirmed an “outperform” rating on shares of TC Energy in a report on Monday, May 4th. Finally, National Bank Financial raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.50.
Read Our Latest Stock Report on TRP
TC Energy Company Profile
TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.
The company’s principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.
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