Kennebec Savings Bank Sells 396 Shares of TC Energy Corporation $TRP

Kennebec Savings Bank decreased its stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 4.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,567 shares of the pipeline company’s stock after selling 396 shares during the period. Kennebec Savings Bank’s holdings in TC Energy were worth $467,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TRP. TruNorth Capital Management LLC bought a new position in TC Energy in the first quarter worth approximately $45,000. Truvestments Capital LLC bought a new position in TC Energy in the first quarter worth approximately $45,000. Golden State Wealth Management LLC raised its position in TC Energy by 222.2% in the first quarter. Golden State Wealth Management LLC now owns 1,076 shares of the pipeline company’s stock worth $51,000 after acquiring an additional 742 shares during the period. SBI Securities Co. Ltd. raised its position in TC Energy by 75.3% in the first quarter. SBI Securities Co. Ltd. now owns 1,166 shares of the pipeline company’s stock worth $55,000 after acquiring an additional 501 shares during the period. Finally, HM Payson & Co. bought a new position in TC Energy in the first quarter worth approximately $60,000. 83.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on TRP. US Capital Advisors downgraded shares of TC Energy from a “moderate buy” rating to a “hold” rating in a research report on Thursday, August 21st. Barclays reiterated an “overweight” rating on shares of TC Energy in a research report on Thursday, August 14th. Finally, Wall Street Zen upgraded shares of TC Energy from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, TC Energy presently has a consensus rating of “Moderate Buy” and an average target price of $62.00.

TC Energy Stock Performance

Shares of NYSE TRP opened at $53.87 on Thursday. The firm has a fifty day moving average price of $51.08 and a 200-day moving average price of $49.51. 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 cap of $56.04 billion, a PE ratio of 18.39, a price-to-earnings-growth ratio of 5.22 and a beta of 0.75. TC Energy Corporation has a 1 year low of $43.39 and a 1 year high of $54.90.

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

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 29th will be paid a dividend of $0.6148 per share. The ex-dividend date of this dividend is Monday, September 29th. This is a positive change from TC Energy’s previous quarterly dividend of $0.61. This represents a $2.46 annualized dividend and a yield of 4.6%. TC Energy’s dividend payout ratio is 84.30%.

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.