Centerstone Investors LLC Sells 32,808 Shares of TC Energy Co. (NYSE:TRP)

Centerstone Investors LLC lowered its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 10.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 295,632 shares of the pipeline company’s stock after selling 32,808 shares during the quarter. TC Energy makes up about 12.5% of Centerstone Investors LLC’s holdings, making the stock its 2nd biggest position. Centerstone Investors LLC’s holdings in TC Energy were worth $13,778,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. NTV Asset Management LLC grew its position in shares of TC Energy by 4.0% during the fourth quarter. NTV Asset Management LLC now owns 6,189 shares of the pipeline company’s stock worth $288,000 after acquiring an additional 239 shares during the last quarter. Lee Financial Co grew its position in shares of TC Energy by 3.1% during the fourth quarter. Lee Financial Co now owns 8,185 shares of the pipeline company’s stock worth $381,000 after acquiring an additional 246 shares during the last quarter. IFP Advisors Inc grew its position in shares of TC Energy by 7.0% during the fourth quarter. IFP Advisors Inc now owns 3,809 shares of the pipeline company’s stock worth $177,000 after acquiring an additional 249 shares during the last quarter. Benjamin Edwards Inc. grew its position in shares of TC Energy by 1.7% during the fourth quarter. Benjamin Edwards Inc. now owns 16,003 shares of the pipeline company’s stock worth $745,000 after acquiring an additional 273 shares during the last quarter. Finally, Global Retirement Partners LLC grew its position in shares of TC Energy by 7.2% during the fourth quarter. Global Retirement Partners LLC now owns 4,099 shares of the pipeline company’s stock worth $191,000 after acquiring an additional 274 shares during the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Stock Performance

NYSE:TRP opened at $50.46 on Friday. The firm’s fifty day moving average price is $48.70 and its 200 day moving average price is $47.58. TC Energy Co. has a 1-year low of $37.07 and a 1-year high of $51.34. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23. The firm has a market cap of $52.46 billion, a price-to-earnings ratio of 15.57, a price-to-earnings-growth ratio of 4.34 and a beta of 0.78.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Thursday, May 1st. The pipeline company reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.04). TC Energy had a net margin of 29.40% and a return on equity of 12.12%. The business had revenue of $1.78 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same period last year, the business posted $1.02 EPS. On average, sell-side analysts expect that TC Energy Co. will post 2.63 EPS for the current year.

TC Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a $0.6142 dividend. This represents a $2.46 dividend on an annualized basis and a yield of 4.87%. The ex-dividend date of this dividend is Monday, June 30th. TC Energy’s dividend payout ratio (DPR) is currently 77.89%.

Wall Street Analysts Forecast Growth

TRP has been the topic of a number of research reports. CIBC upgraded shares of TC Energy from a “neutral” rating to a “sector outperform” rating in a research report on Friday, May 2nd. US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. Royal Bank of Canada lifted their price objective on shares of TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Wall Street Zen lowered shares of TC Energy from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Finally, Citigroup initiated coverage on shares of TC Energy in a research report on Friday, April 4th. They issued a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

TC Energy Profile

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.