CNB Bank Has $109,000 Holdings in TC Energy Corporation $TRP

CNB Bank lessened its position in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 20.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,243 shares of the pipeline company’s stock after selling 585 shares during the quarter. CNB Bank’s holdings in TC Energy were worth $109,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its stake in TC Energy by 2,565.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 16,306,187 shares of the pipeline company’s stock valued at $769,815,000 after purchasing an additional 15,694,336 shares during the period. Bank of Nova Scotia grew its holdings in shares of TC Energy by 80.3% during the first quarter. Bank of Nova Scotia now owns 16,983,443 shares of the pipeline company’s stock valued at $802,164,000 after buying an additional 7,562,887 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of TC Energy by 34.2% during the first quarter. Canada Pension Plan Investment Board now owns 19,808,558 shares of the pipeline company’s stock valued at $935,627,000 after buying an additional 5,053,228 shares in the last quarter. Deutsche Bank AG raised its position in TC Energy by 175.1% during the first quarter. Deutsche Bank AG now owns 5,758,203 shares of the pipeline company’s stock valued at $271,845,000 after buying an additional 3,664,862 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in TC Energy by 31.3% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,418,858 shares of the pipeline company’s stock worth $444,885,000 after acquiring an additional 2,242,918 shares in the last quarter. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

TC Energy Stock Performance

Shares of TRP opened at $50.38 on Friday. The firm has a market cap of $52.41 billion, a price-to-earnings ratio of 17.19, a price-to-earnings-growth ratio of 4.78 and a beta of 0.75. The company’s fifty day moving average is $52.32 and its 200-day moving average is $50.11. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.54. TC Energy Corporation has a 12 month low of $43.51 and a 12 month high of $55.37.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Thursday, July 31st. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.03. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $2.56 billion. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. During the same quarter in the previous year, the business earned $0.79 EPS. Equities analysts expect that TC Energy Corporation will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be paid a dividend of $0.6148 per share. This is a boost from TC Energy’s previous quarterly dividend of $0.61. The ex-dividend date is Monday, September 29th. This represents a $2.46 annualized dividend and a dividend yield of 4.9%. TC Energy’s dividend payout ratio is currently 84.30%.

Wall Street Analyst Weigh In

TRP has been the topic of several research analyst reports. Barclays reaffirmed an “overweight” rating on shares of TC Energy in a research note on Tuesday, October 14th. Wall Street Zen downgraded shares of TC Energy from a “hold” rating to a “sell” rating in a research report on Friday, October 3rd. TD Securities reiterated a “buy” rating on shares of TC Energy in a research note on Friday, October 17th. Scotiabank reissued an “outperform” rating on shares of TC Energy in a research note on Monday, October 20th. Finally, US Capital Advisors cut shares of TC Energy from a “moderate buy” rating to a “hold” rating in a report on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $72.00.

TC Energy Company 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.