TC Energy Corporation $TRP Shares Sold by Zions Bancorporation National Association UT

Zions Bancorporation National Association UT cut its holdings in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 11.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,043 shares of the pipeline company’s stock after selling 12,391 shares during the period. Zions Bancorporation National Association UT’s holdings in TC Energy were worth $5,283,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TRP. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in TC Energy in the fourth quarter valued at $25,000. Trust Co. of Vermont purchased a new position in shares of TC Energy during the fourth quarter worth about $28,000. McIlrath & Eck LLC purchased a new position in shares of TC Energy during the fourth quarter worth about $32,000. SWAN Capital LLC purchased a new position in shares of TC Energy during the third quarter worth about $40,000. Finally, Smartleaf Asset Management LLC grew its holdings in shares of TC Energy by 237.4% during the third quarter. Smartleaf Asset Management LLC now owns 803 shares of the pipeline company’s stock worth $43,000 after purchasing an additional 565 shares during the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Stock Performance

NYSE TRP opened at $68.84 on Thursday. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 1.67. TC Energy Corporation has a 52-week low of $46.29 and a 52-week high of $71.47. The business’s 50-day moving average price is $65.41 and its 200 day moving average price is $60.86. The firm has a market cap of $68.84 billion, a P/E ratio of 29.88 and a beta of 0.66.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Friday, May 1st. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. TC Energy had a return on equity of 10.74% and a net margin of 22.22%.The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same quarter last year, the company posted $0.95 earnings per share. On average, equities research analysts expect that TC Energy Corporation will post 2.75 earnings per share for the current year.

TC Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be issued a dividend of $0.8775 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.1%. TC Energy’s dividend payout ratio (DPR) is currently 109.57%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. TD Securities reaffirmed a “hold” rating on shares of TC Energy in a report on Monday, May 4th. Raymond James Financial raised TC Energy to a “hold” rating in a report on Tuesday, February 17th. Citigroup reaffirmed a “neutral” rating on shares of TC Energy in a report on Thursday, February 19th. Royal Bank Of Canada raised their price objective on TC Energy from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Finally, Wall Street Zen raised TC Energy from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, TC Energy currently has an average rating of “Moderate Buy” and an average price target of $78.50.

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.