TC Energy Co. (NYSE:TRP) Shares Sold by Procyon Advisors LLC

Procyon Advisors LLC trimmed its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 9.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 11,647 shares of the pipeline company’s stock after selling 1,200 shares during the quarter. Procyon Advisors LLC’s holdings in TC Energy were worth $542,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Captrust Financial Advisors raised its holdings in shares of TC Energy by 1.3% during the third quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock worth $871,000 after purchasing an additional 242 shares during the period. Prospera Financial Services Inc grew its position in shares of TC Energy by 4.8% during the 3rd quarter. Prospera Financial Services Inc now owns 5,754 shares of the pipeline company’s stock valued at $274,000 after buying an additional 262 shares during the last quarter. First Horizon Advisors Inc. raised its stake in TC Energy by 8.1% during the third quarter. First Horizon Advisors Inc. now owns 3,505 shares of the pipeline company’s stock worth $167,000 after acquiring an additional 264 shares during the period. Blue Trust Inc. lifted its holdings in TC Energy by 72.0% in the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after acquiring an additional 267 shares during the last quarter. Finally, Cohen Investment Advisors LLC boosted its stake in TC Energy by 2.9% in the fourth quarter. Cohen Investment Advisors LLC now owns 9,831 shares of the pipeline company’s stock valued at $457,000 after acquiring an additional 279 shares during the period. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

TC Energy Trading Up 2.7 %

Shares of TC Energy stock opened at $47.39 on Friday. The business has a fifty day simple moving average of $47.59 and a 200-day simple moving average of $45.56. TC Energy Co. has a fifty-two week low of $31.83 and a fifty-two week high of $50.37. The firm has a market cap of $49.23 billion, a price-to-earnings ratio of 13.13, a price-to-earnings-growth ratio of 4.31 and a beta of 0.82. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. On average, equities analysts forecast that TC Energy Co. will post 2.95 EPS for the current fiscal year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a $0.822 dividend. This represents a $3.29 dividend on an annualized basis and a dividend yield of 6.94%. This is a boost from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, December 31st. TC Energy’s payout ratio is presently 63.43%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. BMO Capital Markets boosted their price target on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. UBS Group raised shares of TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. The Goldman Sachs Group boosted their price objective on TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research report on Monday, October 21st. Finally, TD Securities initiated coverage on TC Energy in a report on Wednesday. They set a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $55.67.

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.