TC Energy Co. (NYSE:TRP) Shares Sold by NFJ Investment Group LLC

NFJ Investment Group LLC lessened its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 11.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 720,787 shares of the pipeline company’s stock after selling 95,596 shares during the period. TC Energy accounts for approximately 1.0% of NFJ Investment Group LLC’s portfolio, making the stock its 25th biggest position. NFJ Investment Group LLC owned about 0.07% of TC Energy worth $34,273,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. EdgeRock Capital LLC acquired a new position in TC Energy in the second quarter valued at about $25,000. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of TC Energy by 138.8% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 429 shares in the last quarter. Fortitude Family Office LLC purchased a new stake in TC Energy during the 3rd quarter worth about $28,000. Blue Trust Inc. boosted its holdings in TC Energy by 72.0% in the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 267 shares in the last quarter. Finally, Mather Group LLC. purchased a new position in shares of TC Energy in the 2nd quarter valued at $33,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on TRP shares. Veritas upgraded TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group raised their price target on TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a report on Monday, October 21st. StockNews.com began coverage on shares of TC Energy in a report on Tuesday, November 26th. They issued a “hold” rating for the company. Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. upgraded TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $55.67.

TC Energy Stock Up 0.6 %

NYSE TRP traded up $0.28 on Tuesday, reaching $48.86. The company had a trading volume of 150,206 shares, compared to its average volume of 3,029,584. TC Energy Co. has a 1 year low of $31.83 and a 1 year high of $50.37. The firm has a market capitalization of $50.71 billion, a PE ratio of 13.46, a P/E/G ratio of 4.08 and a beta of 0.82. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23. The firm has a 50-day moving average of $47.49 and a 200-day moving average of $43.62.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.83 billion. On average, equities research analysts anticipate that TC Energy Co. will post 3 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.822 per share. This represents a $3.29 dividend on an annualized basis and a dividend yield of 6.73%. This is a boost from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, December 31st. TC Energy’s dividend payout ratio is 78.95%.

TC Energy 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.