Raleigh Capital Management Inc. Has $1.45 Million Stake in TC Energy Co. (NYSE:TRP)

Raleigh Capital Management Inc. cut its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 2.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,137 shares of the pipeline company’s stock after selling 724 shares during the period. Raleigh Capital Management Inc.’s holdings in TC Energy were worth $1,449,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in TRP. Captrust Financial Advisors increased its stake in TC Energy by 1.3% in the 3rd quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock valued at $871,000 after buying an additional 242 shares during the last quarter. Prospera Financial Services Inc grew its holdings in shares of TC Energy by 4.8% in the 3rd quarter. Prospera Financial Services Inc now owns 5,754 shares of the pipeline company’s stock valued at $274,000 after acquiring an additional 262 shares in the last quarter. First Horizon Advisors Inc. raised its holdings 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 in the last quarter. Blue Trust Inc. boosted its position in TC Energy by 72.0% during the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 267 shares during the last quarter. Finally, Cohen Investment Advisors LLC boosted its position in TC Energy by 2.9% during the fourth quarter. Cohen Investment Advisors LLC now owns 9,831 shares of the pipeline company’s stock valued at $457,000 after purchasing an additional 279 shares during the last quarter. Institutional investors own 83.13% of the company’s stock.

TC Energy Price Performance

NYSE:TRP opened at $47.19 on Thursday. TC Energy Co. has a 52 week low of $31.83 and a 52 week high of $50.37. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31. The firm’s 50-day simple moving average is $47.50 and its 200 day simple moving average is $45.81. The firm has a market cap of $49.04 billion, a price-to-earnings ratio of 13.07, a P/E/G ratio of 4.48 and a beta of 0.82.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. The firm had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.83 billion. As a group, sell-side analysts predict that TC Energy Co. will post 2.95 earnings per share for the current year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a dividend of $0.822 per share. The ex-dividend date is Tuesday, December 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. This represents a $3.29 annualized dividend and a dividend yield of 6.97%. TC Energy’s payout ratio is 63.43%.

Wall Street Analyst Weigh In

TRP has been the topic of a number of analyst reports. UBS Group upgraded TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. upgraded shares of TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. Veritas upgraded shares of TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. TD Securities assumed coverage on shares of TC Energy in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. Finally, The Goldman Sachs Group lifted their price target on TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a report on Monday, October 21st. 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. According to data from MarketBeat, TC Energy has a consensus rating of “Hold” and an average price target of $55.67.

TC Energy Company 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.