Cohen Investment Advisors LLC Has $382,000 Position in TC Energy Co. (NYSE:TRP)

Cohen Investment Advisors LLC cut its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 3.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,491 shares of the pipeline company’s stock after selling 323 shares during the quarter. Cohen Investment Advisors LLC’s holdings in TC Energy were worth $382,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in TRP. New Hampshire Trust boosted its position in TC Energy by 3.8% during the 1st quarter. New Hampshire Trust now owns 7,263 shares of the pipeline company’s stock worth $292,000 after buying an additional 269 shares during the period. Glassman Wealth Services lifted its holdings in shares of TC Energy by 61.0% during the fourth quarter. Glassman Wealth Services now owns 726 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 275 shares during the period. Wealthspire Advisors LLC increased its holdings in TC Energy by 2.1% in the fourth quarter. Wealthspire Advisors LLC now owns 14,383 shares of the pipeline company’s stock valued at $562,000 after purchasing an additional 300 shares during the period. AdvisorNet Financial Inc increased its holdings in TC Energy by 25.8% in the fourth quarter. AdvisorNet Financial Inc now owns 1,483 shares of the pipeline company’s stock valued at $58,000 after purchasing an additional 304 shares during the period. Finally, Wealth Alliance raised its position in TC Energy by 1.4% during the 4th quarter. Wealth Alliance now owns 22,531 shares of the pipeline company’s stock worth $881,000 after purchasing an additional 304 shares during the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, TheStreet upgraded TC Energy from a “c+” rating to a “b-” rating in a research report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, TC Energy has an average rating of “Hold” and an average price target of $48.83.

TC Energy Trading Up 1.1 %

Shares of TC Energy stock traded up $0.42 on Thursday, hitting $38.17. 824,953 shares of the company’s stock traded hands, compared to its average volume of 3,252,232. The company has a market capitalization of $38.17 billion, a price-to-earnings ratio of 19.68, a price-to-earnings-growth ratio of 3.13 and a beta of 0.79. The company has a fifty day moving average of $38.22 and a two-hundred day moving average of $38.74. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.94 and a quick ratio of 0.85. TC Energy Co. has a one year low of $32.51 and a one year high of $41.03.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Friday, May 3rd. The pipeline company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.09. The firm had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.12 billion. TC Energy had a return on equity of 17.94% and a net margin of 17.23%. As a group, sell-side analysts expect that TC Energy Co. will post 3.01 earnings per share for the current year.

TC Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 7.44%. The ex-dividend date of this dividend is Friday, June 28th. TC Energy’s dividend payout ratio (DPR) is currently 143.81%.

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.