TC Energy Corporation $TRP Position Trimmed by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC trimmed its holdings in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 9.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 96,827 shares of the pipeline company’s stock after selling 10,416 shares during the period. Commonwealth Equity Services LLC’s holdings in TC Energy were worth $5,326,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in TRP. Advisors Asset Management Inc. lifted its position in shares of TC Energy by 38.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 88,140 shares of the pipeline company’s stock valued at $4,796,000 after acquiring an additional 24,617 shares in the last quarter. Citigroup Inc. lifted its position in shares of TC Energy by 19.2% in the 3rd quarter. Citigroup Inc. now owns 378,086 shares of the pipeline company’s stock valued at $20,562,000 after acquiring an additional 61,013 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of TC Energy by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 46,821,474 shares of the pipeline company’s stock valued at $2,545,777,000 after acquiring an additional 914,168 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of TC Energy by 80.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 526,181 shares of the pipeline company’s stock valued at $28,945,000 after acquiring an additional 234,594 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of TC Energy by 4.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,237,084 shares of the pipeline company’s stock valued at $611,410,000 after acquiring an additional 512,759 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of TC Energy in a research report on Tuesday, May 26th. The Goldman Sachs Group upgraded shares of TC Energy from a “sell” rating to a “neutral” rating and upped their price target for the company from $53.00 to $62.00 in a research report on Monday, April 20th. Scotiabank restated an “outperform” rating on shares of TC Energy in a research report on Monday, May 4th. Royal Bank Of Canada upped their price target on shares of TC Energy from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Finally, Weiss Ratings downgraded shares of TC Energy from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, TC Energy presently has an average rating of “Moderate Buy” and a consensus price target of $78.50.

TC Energy Stock Down 0.3%

TC Energy stock opened at $68.73 on Friday. The company has a market capitalization of $68.73 billion, a P/E ratio of 29.83 and a beta of 0.66. The firm’s fifty day simple moving average is $65.10 and its 200-day simple moving average is $60.52. The company has a current ratio of 0.65, a quick ratio of 0.57 and a debt-to-equity ratio of 1.67. TC Energy Corporation has a 1-year low of $46.29 and a 1-year high of $71.47.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Friday, May 1st. The pipeline company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. The business had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.20 billion. TC Energy had a net margin of 22.22% and a return on equity of 10.74%. During the same quarter last year, the firm earned $0.95 EPS. Sell-side analysts forecast that TC Energy Corporation will post 2.75 earnings per share for the current fiscal year.

TC Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.8775 per share. The ex-dividend date is Tuesday, June 30th. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.1%. TC Energy’s dividend payout ratio (DPR) is currently 109.57%.

TC Energy Company Profile

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.