TC Energy Co. (NYSE:TRP) Holdings Decreased by Comerica Bank

Comerica Bank trimmed its position in TC Energy Co. (NYSE:TRPGet Rating) (TSE:TRP) by 1.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,521 shares of the pipeline company’s stock after selling 373 shares during the quarter. Comerica Bank’s holdings in TC Energy were worth $1,592,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in TRP. American Century Companies Inc. increased its holdings in shares of TC Energy by 4.4% in the 1st quarter. American Century Companies Inc. now owns 27,957 shares of the pipeline company’s stock valued at $1,577,000 after acquiring an additional 1,188 shares during the last quarter. Cetera Advisor Networks LLC boosted its position in TC Energy by 6.0% during the 1st quarter. Cetera Advisor Networks LLC now owns 5,664 shares of the pipeline company’s stock valued at $320,000 after purchasing an additional 323 shares during the period. BlackRock Inc. boosted its position in TC Energy by 43.9% during the 1st quarter. BlackRock Inc. now owns 878,551 shares of the pipeline company’s stock valued at $49,567,000 after purchasing an additional 267,934 shares during the period. Sei Investments Co. boosted its position in TC Energy by 40.4% during the 1st quarter. Sei Investments Co. now owns 110,816 shares of the pipeline company’s stock valued at $6,252,000 after purchasing an additional 31,882 shares during the period. Finally, Vanguard Group Inc. boosted its position in TC Energy by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 33,256,822 shares of the pipeline company’s stock valued at $1,876,349,000 after purchasing an additional 993,965 shares during the period. 71.86% of the stock is currently owned by institutional investors.

TC Energy Stock Up 1.0 %

NYSE:TRP opened at $43.42 on Friday. The firm has a market capitalization of $44.20 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 3.37 and a beta of 0.80. TC Energy Co. has a 1-year low of $38.35 and a 1-year high of $59.38. The company has a current ratio of 0.53, a quick ratio of 0.47 and a debt-to-equity ratio of 1.54. The business’s fifty day moving average price is $43.03 and its 200 day moving average price is $45.87.

TC Energy (NYSE:TRPGet Rating) (TSE:TRP) last posted its quarterly earnings results on Wednesday, November 9th. The pipeline company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.07. The firm had revenue of $2.91 billion for the quarter. TC Energy had a return on equity of 13.98% and a net margin of 22.89%. On average, sell-side analysts forecast that TC Energy Co. will post 3.17 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 31st. Shareholders of record on Friday, December 30th will be paid a $0.661 dividend. The ex-dividend date of this dividend is Thursday, December 29th. This represents a $2.64 dividend on an annualized basis and a yield of 6.09%. TC Energy’s dividend payout ratio (DPR) is currently 105.14%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. National Bank Financial boosted their price objective on TC Energy from C$56.00 to C$58.00 in a research report on Friday, November 11th. Royal Bank of Canada reduced their price objective on TC Energy from C$75.00 to C$73.00 in a research report on Wednesday, November 30th. StockNews.com started coverage on TC Energy in a research report on Wednesday, October 12th. They set a “hold” rating for the company. BMO Capital Markets reduced their price target on TC Energy from C$70.00 to C$68.00 in a research report on Wednesday, November 30th. Finally, Raymond James upgraded TC Energy from a “market perform” rating to an “outperform” rating in a research report on Friday, January 6th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $67.73.

About TC Energy

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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 Storage. The company builds and operates 93,300 km network 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.

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Institutional Ownership by Quarter for TC Energy (NYSE:TRP)

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