Kovitz Investment Group Partners LLC Lowers Holdings in TC Energy Corporation $TRP

Kovitz Investment Group Partners LLC decreased its position in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 20.7% during the first quarter, Holdings Channel.com reports. The institutional investor owned 10,636 shares of the pipeline company’s stock after selling 2,770 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in TC Energy were worth $502,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Baader Bank Aktiengesellschaft grew its holdings in TC Energy by 4.4% during the 1st quarter. Baader Bank Aktiengesellschaft now owns 6,325 shares of the pipeline company’s stock worth $289,000 after acquiring an additional 264 shares in the last quarter. Benjamin Edwards Inc. raised its holdings in shares of TC Energy by 1.7% in the 4th quarter. Benjamin Edwards Inc. now owns 16,003 shares of the pipeline company’s stock valued at $745,000 after purchasing an additional 273 shares in the last quarter. Prudential PLC lifted its position in shares of TC Energy by 5.2% in the 1st quarter. Prudential PLC now owns 6,536 shares of the pipeline company’s stock worth $309,000 after purchasing an additional 326 shares during the period. Avantax Advisory Services Inc. boosted its stake in shares of TC Energy by 3.6% during the first quarter. Avantax Advisory Services Inc. now owns 9,908 shares of the pipeline company’s stock valued at $468,000 after purchasing an additional 344 shares in the last quarter. Finally, FSM Wealth Advisors LLC increased its holdings in TC Energy by 9.2% during the first quarter. FSM Wealth Advisors LLC now owns 5,152 shares of the pipeline company’s stock valued at $243,000 after buying an additional 432 shares during the period. 83.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on TRP. CIBC upgraded TC Energy from a “neutral” rating to a “sector outperform” rating in a report on Friday, May 2nd. Barclays restated an “overweight” rating on shares of TC Energy in a research note on Thursday, August 14th. Finally, Cibc World Mkts upgraded TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 2nd. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $62.00.

TC Energy Stock Up 1.2%

TC Energy stock opened at $51.8180 on Thursday. TC Energy Corporation has a 1-year low of $40.00 and a 1-year high of $52.10. The business has a fifty day moving average price of $48.50 and a 200-day moving average price of $48.21. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.61 and a quick ratio of 0.54. The stock has a market capitalization of $53.89 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 4.90 and a beta of 0.75.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Thursday, July 31st. The pipeline company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.56 by $0.03. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same period last year, the firm posted $0.79 EPS. Equities research analysts forecast that TC Energy Corporation will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 29th will be paid a dividend of $0.6148 per share. This represents a $2.46 annualized dividend and a yield of 4.7%. The ex-dividend date is Monday, September 29th. This is a positive change from TC Energy’s previous quarterly dividend of $0.61. TC Energy’s dividend payout ratio (DPR) is presently 85.32%.

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.