Geneos Wealth Management Inc. Has $50,000 Stake in TC Energy Co. (NYSE:TRP)

Geneos Wealth Management Inc. reduced its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 86.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,271 shares of the pipeline company’s stock after selling 8,028 shares during the quarter. Geneos Wealth Management Inc.’s holdings in TC Energy were worth $50,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of TC Energy during the 4th quarter valued at $519,894,000. Healthcare of Ontario Pension Plan Trust Fund increased its position in TC Energy by 70.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 16,540,018 shares of the pipeline company’s stock worth $569,058,000 after purchasing an additional 6,840,000 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of TC Energy by 18.0% during the 3rd quarter. Canada Pension Plan Investment Board now owns 24,574,983 shares of the pipeline company’s stock worth $849,037,000 after purchasing an additional 3,740,495 shares in the last quarter. Blackstone Inc. lifted its holdings in shares of TC Energy by 540.4% during the 3rd quarter. Blackstone Inc. now owns 3,117,031 shares of the pipeline company’s stock valued at $107,257,000 after buying an additional 2,630,324 shares during the last quarter. Finally, Morgan Stanley grew its stake in shares of TC Energy by 42.5% in the 3rd quarter. Morgan Stanley now owns 6,821,231 shares of the pipeline company’s stock valued at $234,719,000 after buying an additional 2,034,846 shares in the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Trading Down 2.3 %

Shares of TC Energy stock opened at $35.18 on Wednesday. The company’s fifty day moving average price is $39.20 and its two-hundred day moving average price is $37.98. The firm has a market capitalization of $35.18 billion, a PE ratio of 17.33, a price-to-earnings-growth ratio of 3.01 and a beta of 0.75. TC Energy Co. has a 52-week low of $32.51 and a 52-week high of $42.49. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.96 and a quick ratio of 0.88.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Friday, February 16th. The pipeline company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.20. The business had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $2.93 billion. TC Energy had a net margin of 18.25% and a return on equity of 18.60%. On average, analysts expect that TC Energy Co. will post 2.99 EPS for the current year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be issued a $0.714 dividend. The ex-dividend date is Wednesday, March 27th. This is a boost from TC Energy’s previous quarterly dividend of $0.67. This represents a $2.86 dividend on an annualized basis and a dividend yield of 8.12%. TC Energy’s dividend payout ratio is presently 139.41%.

Analysts Set New Price Targets

Several brokerages recently weighed in on TRP. Jefferies Financial Group initiated coverage on shares of TC Energy in a research report on Tuesday, February 27th. They set a “hold” rating on the stock. Barclays boosted their target price on TC Energy from $53.00 to $55.00 and gave the stock an “equal weight” rating in a report on Monday, January 29th. TheStreet upgraded shares of TC Energy from a “c+” rating to a “b-” rating in a report on Wednesday, March 20th. Stifel Nicolaus began coverage on shares of TC Energy in a research note on Thursday, January 18th. They issued a “buy” rating on the stock. Finally, The Goldman Sachs Group upped their target price on shares of TC Energy from $29.00 to $32.00 and gave the company a “sell” rating in a research note on Friday, January 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, TC Energy has an average rating of “Hold” and an average target price of $48.83.

About TC Energy

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 Energy Solutions. The company builds and operates a network of 93,600 kilometers 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.