TC Energy Corporation $TRP Shares Sold by Midwest Trust Co

Midwest Trust Co lowered its position in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 3.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 245,413 shares of the pipeline company’s stock after selling 8,733 shares during the period. Midwest Trust Co’s holdings in TC Energy were worth $15,363,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its position in TC Energy by 80.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 526,181 shares of the pipeline company’s stock valued at $28,945,000 after buying an additional 234,594 shares during the last quarter. Generali Asset Management SPA SGR increased its position in shares of TC Energy by 261.0% during the fourth quarter. Generali Asset Management SPA SGR now owns 74,906 shares of the pipeline company’s stock worth $4,121,000 after acquiring an additional 54,154 shares during the last quarter. Vanguard Group Inc. increased its position in shares of TC Energy by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 47,801,695 shares of the pipeline company’s stock worth $2,632,200,000 after acquiring an additional 980,221 shares during the last quarter. Miller Howard Investments Inc. NY lifted its stake in shares of TC Energy by 14.0% in the first quarter. Miller Howard Investments Inc. NY now owns 1,294,518 shares of the pipeline company’s stock worth $81,037,000 after acquiring an additional 158,686 shares in the last quarter. Finally, TD Waterhouse Canada Inc. boosted its holdings in TC Energy by 1.2% in the fourth quarter. TD Waterhouse Canada Inc. now owns 4,806,132 shares of the pipeline company’s stock valued at $263,516,000 after purchasing an additional 58,624 shares during the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

TC Energy Stock Performance

Shares of TRP traded down $0.69 during mid-day trading on Friday, hitting $67.27. The stock had a trading volume of 3,079,252 shares, compared to its average volume of 2,495,869. The company has a market cap of $70.09 billion, a PE ratio of 29.20 and a beta of 0.66. The company’s fifty day simple moving average is $68.04 and its two-hundred day simple moving average is $62.98. 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 fifty-two week low of $46.61 and a fifty-two week high of $71.47.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Friday, May 1st. The pipeline company reported $0.72 earnings per share for the quarter, beating 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 business had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the previous year, the business earned $0.95 EPS. On average, equities analysts expect that TC Energy Corporation will post 2.72 earnings per share for the current year.

TC Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.8775 per share. The ex-dividend date is Tuesday, June 30th. This represents a $3.51 annualized dividend and a yield of 5.2%. TC Energy’s payout ratio is presently 107.39%.

Analyst Ratings Changes

Several research firms have issued reports on TRP. Morgan Stanley downgraded TC Energy from an “overweight” rating to an “equal weight” rating in a report on Wednesday, June 10th. TD Securities reissued a “hold” rating on shares of TC Energy in a research report on Monday, May 4th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of TC Energy in a research note on Tuesday, May 26th. Royal Bank Of Canada increased their price objective on shares of TC Energy from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Finally, Scotiabank reissued an “outperform” rating on shares of TC Energy in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.50.

About TC Energy

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.