Vontobel Holding Ltd. reduced its position in TC Energy Corporation (NYSE:TRP – Free Report) (TSE:TRP) by 75.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 189,021 shares of the pipeline company’s stock after selling 573,733 shares during the quarter. Vontobel Holding Ltd.’s holdings in TC Energy were worth $10,944,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Groupe la Francaise increased its holdings in TC Energy by 2.1% during the 1st quarter. Groupe la Francaise now owns 7,352 shares of the pipeline company’s stock worth $459,000 after acquiring an additional 154 shares during the period. Wealthstar Advisors LLC lifted its stake in TC Energy by 1.5% in the 1st quarter. Wealthstar Advisors LLC now owns 11,465 shares of the pipeline company’s stock worth $718,000 after purchasing an additional 165 shares in the last quarter. Nations Financial Group Inc. IA ADV lifted its stake in TC Energy by 5.7% in the 1st quarter. Nations Financial Group Inc. IA ADV now owns 3,911 shares of the pipeline company’s stock worth $245,000 after purchasing an additional 210 shares in the last quarter. Roxbury Financial LLC boosted its holdings in TC Energy by 4.4% in the 1st quarter. Roxbury Financial LLC now owns 6,051 shares of the pipeline company’s stock valued at $379,000 after purchasing an additional 257 shares during the period. Finally, Envestnet Portfolio Solutions Inc. boosted its holdings in TC Energy by 1.1% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 22,946 shares of the pipeline company’s stock valued at $1,519,000 after purchasing an additional 257 shares during the period. Hedge funds and other institutional investors own 83.13% of the company’s stock.
Analyst Upgrades and Downgrades
TRP has been the subject of a number of recent analyst reports. TD upgraded shares of TC Energy to a “buy” rating in a research report on Tuesday, September 15th. Barclays reaffirmed an “overweight” rating on shares of TC Energy in a report on Thursday, July 16th. The Goldman Sachs Group upgraded TC Energy from a “neutral” rating to a “buy” rating and set a $71.00 price objective on the stock in a research report on Wednesday, September 30th. US Capital Advisors raised TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Thursday, August 20th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $99.00 price objective on shares of TC Energy in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, TC Energy currently has an average rating of “Moderate Buy” and an average target price of $92.00.
Get Our Latest Research Report on TRP
TC Energy Stock Up 3.2%
Shares of NYSE TRP opened at $61.59 on Friday. TC Energy Corporation has a 12 month low of $49.27 and a 12 month high of $71.47. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.64. The firm has a market capitalization of $61.59 billion, a price-to-earnings ratio of 25.56 and a beta of 0.70. The business has a 50-day moving average of $61.41 and a 200-day moving average of $64.74.
TC Energy (NYSE:TRP – Get Free Report) (TSE:TRP) last posted its quarterly earnings data on Thursday, July 30th. The pipeline company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.07. The company had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.76 billion. TC Energy had a net margin of 22.91% and a return on equity of 11.10%. During the same period in the prior year, the business earned $0.82 earnings per share. Sell-side analysts expect that TC Energy Corporation will post 2.77 earnings per share for the current fiscal year.
TC Energy Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Tuesday, September 29th will be given a dividend of C$0.88 per share. The ex-dividend date is Tuesday, September 29th. This represents a $3.51 annualized dividend and a yield of 5.7%. TC Energy’s payout ratio is presently 104.98%.
About TC Energy
TC Energy Corporation (NYSE: TRP) is a North American energy infrastructure company that develops and operates natural gas pipelines, storage facilities, power-generation assets and related energy infrastructure. Its natural gas pipeline network connects major supply basins with utilities, power producers, industrial customers and local distribution companies.
The company’s operations are primarily located in Canada and the United States, with additional natural gas pipeline interests in Mexico.
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