TC Energy Corporation $TRP Shares Sold by US Bancorp DE

US Bancorp DE trimmed its stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 9.1% during the third quarter, Holdings Channel reports. The firm owned 99,742 shares of the pipeline company’s stock after selling 9,973 shares during the period. US Bancorp DE’s holdings in TC Energy were worth $5,427,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in TRP. Pacifica Partners Inc. boosted its holdings in shares of TC Energy by 14.0% during the third quarter. Pacifica Partners Inc. now owns 1,625 shares of the pipeline company’s stock valued at $87,000 after acquiring an additional 200 shares during the period. Kingswood Wealth Advisors LLC lifted its position in TC Energy by 2.8% in the 3rd quarter. Kingswood Wealth Advisors LLC now owns 7,342 shares of the pipeline company’s stock valued at $399,000 after purchasing an additional 202 shares during the last quarter. Checchi Capital Advisers LLC boosted its stake in TC Energy by 3.4% during the 3rd quarter. Checchi Capital Advisers LLC now owns 6,171 shares of the pipeline company’s stock valued at $336,000 after purchasing an additional 204 shares during the period. Ewing Morris & Co. Investment Partners Ltd. grew its position in TC Energy by 0.6% in the 2nd quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 37,962 shares of the pipeline company’s stock worth $1,873,000 after purchasing an additional 234 shares during the last quarter. Finally, MAI Capital Management increased its stake in shares of TC Energy by 6.9% in the third quarter. MAI Capital Management now owns 3,709 shares of the pipeline company’s stock valued at $202,000 after purchasing an additional 239 shares during the period. Institutional investors own 83.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Raymond James Financial upgraded TC Energy to a “hold” rating in a research report on Tuesday, February 17th. Citigroup reiterated a “neutral” rating on shares of TC Energy in a research report on Thursday, February 19th. Wall Street Zen raised TC Energy from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Barclays reaffirmed an “overweight” rating on shares of TC Energy in a report on Friday, February 20th. Finally, The Goldman Sachs Group raised their target price on shares of TC Energy from $48.00 to $53.00 and gave the company a “sell” rating in a research note on Wednesday, February 18th. Seven research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $72.50.

TC Energy Trading Up 2.1%

Shares of TC Energy stock opened at $64.38 on Monday. The business has a fifty day simple moving average of $57.89 and a 200-day simple moving average of $54.54. TC Energy Corporation has a fifty-two week low of $43.59 and a fifty-two week high of $64.92. The firm has a market cap of $67.03 billion, a price-to-earnings ratio of 27.70 and a beta of 0.72. The company has a quick ratio of 0.56, a current ratio of 0.63 and a debt-to-equity ratio of 1.66.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.65 by $0.05. TC Energy had a net margin of 23.04% and a return on equity of 10.52%. The firm had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same period in the previous year, the business earned $1.05 earnings per share. On average, equities analysts forecast that TC Energy Corporation will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be paid a dividend of $0.8775 per share. This is a boost from TC Energy’s previous quarterly dividend of $0.85. This represents a $3.51 annualized dividend and a yield of 5.5%. The ex-dividend date of this dividend is Tuesday, March 31st. TC Energy’s dividend payout ratio (DPR) is currently 106.90%.

TC Energy Profile

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.