TC Energy Co. (NYSE:TRP) Shares Sold by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC lowered its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 32.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,943 shares of the pipeline company’s stock after selling 7,611 shares during the quarter. Verdence Capital Advisors LLC’s holdings in TC Energy were worth $623,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of TRP. Bruce G. Allen Investments LLC purchased a new position in TC Energy in the 4th quarter worth $26,000. Hexagon Capital Partners LLC increased its holdings in TC Energy by 158.3% in the 3rd quarter. Hexagon Capital Partners LLC now owns 1,085 shares of the pipeline company’s stock worth $37,000 after buying an additional 665 shares during the period. Peoples Bank KS purchased a new position in TC Energy during the 3rd quarter worth approximately $45,000. AdvisorNet Financial Inc lifted its stake in TC Energy by 25.8% during the 4th quarter. AdvisorNet Financial Inc now owns 1,483 shares of the pipeline company’s stock valued at $58,000 after acquiring an additional 304 shares during the period. Finally, Whittier Trust Co. boosted its holdings in shares of TC Energy by 1,500.0% in the 4th quarter. Whittier Trust Co. now owns 1,840 shares of the pipeline company’s stock valued at $72,000 after acquiring an additional 1,725 shares during the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on TRP shares. Stifel Nicolaus began coverage on shares of TC Energy in a research report on Thursday, January 18th. They set a “buy” rating for the company. Jefferies Financial Group assumed coverage on TC Energy in a report on Tuesday, February 27th. They issued a “hold” rating for the company. Barclays raised their target price on TC Energy from $53.00 to $55.00 and gave the stock an “equal weight” rating in a report on Monday, January 29th. The Goldman Sachs Group boosted their price target on TC Energy from $29.00 to $32.00 and gave the company a “sell” rating in a report on Friday, January 26th. Finally, TheStreet upgraded TC Energy from a “c+” rating to a “b-” rating in a research report on Wednesday, March 20th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, TC Energy has a consensus rating of “Hold” and a consensus target price of $48.83.

TC Energy Trading Up 0.6 %

Shares of TC Energy stock opened at $35.90 on Tuesday. The company has a current ratio of 0.96, a quick ratio of 0.88 and a debt-to-equity ratio of 1.65. TC Energy Co. has a twelve month low of $32.51 and a twelve month high of $42.49. The firm has a market capitalization of $35.90 billion, a PE ratio of 17.68, a P/E/G ratio of 3.00 and a beta of 0.75. The firm’s 50-day moving average price is $39.01 and its 200 day moving average price is $38.04.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Friday, February 16th. The pipeline company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.20. TC Energy had a return on equity of 18.60% and a net margin of 18.25%. The business had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $2.93 billion. On average, sell-side analysts predict that TC Energy Co. will post 2.98 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be issued a dividend of $0.714 per share. This is a positive change from TC Energy’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 7.96%. TC Energy’s dividend payout ratio is presently 139.41%.

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.