TC Energy Co. (NYSE:TRP) Shares Sold by IFP Advisors Inc

IFP Advisors Inc lowered its stake in shares of TC Energy Co. (NYSE:TRP – Get Rating) (TSE:TRP) by 44.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,117 shares of the pipeline company’s stock after selling 909 shares during the quarter. IFP Advisors Inc’s holdings in TC Energy were worth $53,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TRP. Vanguard Group Inc. boosted its position in TC Energy by 6.5% during the 3rd quarter. Vanguard Group Inc. now owns 36,348,682 shares of the pipeline company’s stock worth $1,464,488,000 after acquiring an additional 2,206,563 shares during the period. Price T Rowe Associates Inc. MD boosted its position in TC Energy by 60.8% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 30,036,811 shares of the pipeline company’s stock worth $1,210,184,000 after acquiring an additional 11,355,601 shares during the period. Canada Pension Plan Investment Board boosted its position in TC Energy by 123.3% during the 3rd quarter. Canada Pension Plan Investment Board now owns 15,084,085 shares of the pipeline company’s stock worth $610,806,000 after acquiring an additional 8,329,085 shares during the period. TD Asset Management Inc. boosted its position in TC Energy by 1.8% during the 3rd quarter. TD Asset Management Inc. now owns 14,873,628 shares of the pipeline company’s stock worth $612,428,000 after acquiring an additional 262,839 shares during the period. Finally, National Bank of Canada FI boosted its position in TC Energy by 527.8% during the 4th quarter. National Bank of Canada FI now owns 13,756,448 shares of the pipeline company’s stock worth $548,242,000 after acquiring an additional 11,565,402 shares during the period. Institutional investors and hedge funds own 71.86% of the company’s stock.

Wall Street Analyst Weigh In

TRP has been the topic of a number of research reports. National Bank Financial dropped their price objective on TC Energy from C$56.00 to C$53.00 in a research note on Thursday, February 2nd. Scotiabank dropped their price objective on TC Energy from C$67.00 to C$66.00 in a research note on Thursday, February 2nd. TheStreet raised TC Energy from a “c” rating to a “b-” rating in a research note on Friday, April 28th. StockNews.com started coverage on TC Energy in a research note on Thursday. They issued a “hold” rating on the stock. Finally, BMO Capital Markets cut their target price on TC Energy from C$66.00 to C$64.00 in a research report on Thursday, February 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, TC Energy has a consensus rating of “Hold” and a consensus target price of $63.06.

TC Energy Stock Up 0.5 %

NYSE TRP opened at $40.45 on Thursday. The firm has a market cap of $41.37 billion, a PE ratio of 32.36, a price-to-earnings-growth ratio of 3.35 and a beta of 0.84. TC Energy Co. has a one year low of $36.79 and a one year high of $59.38. The stock’s 50 day simple moving average is $40.24 and its 200 day simple moving average is $41.88. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.74 and a quick ratio of 0.67.

TC Energy (NYSE:TRP – Get Rating) (TSE:TRP) last released its quarterly earnings results on Tuesday, February 14th. The pipeline company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.02). The business had revenue of $2.98 billion for the quarter. TC Energy had a return on equity of 13.97% and a net margin of 11.35%. As a group, sell-side analysts forecast that TC Energy Co. will post 3.09 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Friday, June 30th will be given a dividend of $0.688 per share. The ex-dividend date is Thursday, June 29th. This represents a $2.75 dividend on an annualized basis and a yield of 6.80%. TC Energy’s dividend payout ratio (DPR) is presently 220.00%.

TC Energy Company Profile

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TC Energy Corporation engages in the provision of energy infrastructure services. It operates through the following business segments: Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, Power and Energy Solutions, and Corporate. The Canadian Natural Gas Pipelines segment consists of regulated natural gas pipelines.