TC Energy Co. (NYSE:TRP) Shares Sold by Moors & Cabot Inc.

Moors & Cabot Inc. lessened its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 2.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,721 shares of the pipeline company’s stock after selling 500 shares during the quarter. Moors & Cabot Inc.’s holdings in TC Energy were worth $1,033,000 as of its most recent filing with the SEC.

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

Analyst Ratings Changes

Several brokerages have recently issued reports on TRP. BMO Capital Markets boosted their price objective on TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research report on Wednesday. StockNews.com assumed coverage on TC Energy in a research note on Monday. They issued a “hold” rating for the company. JPMorgan Chase & Co. upgraded shares of TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. The Goldman Sachs Group increased their target price on shares of TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research report on Monday, October 21st. Finally, Veritas raised TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $55.67.

TC Energy Stock Up 2.1 %

Shares of TRP opened at $50.22 on Friday. TC Energy Co. has a 52 week low of $31.83 and a 52 week high of $50.29. The firm has a market capitalization of $52.12 billion, a P/E ratio of 13.91, a P/E/G ratio of 4.19 and a beta of 0.81. The company has a 50-day simple moving average of $47.16 and a 200-day simple moving average of $43.10. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.83 billion. On average, equities research analysts expect that TC Energy Co. will post 2.98 earnings per share for the current year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.822 per share. This represents a $3.29 dividend on an annualized basis and a dividend yield of 6.55%. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Tuesday, December 31st. TC Energy’s dividend payout ratio is presently 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.