TC Energy Co. (NYSE:TRP) Stake Lessened by Baldwin Wealth Partners LLC MA

Baldwin Wealth Partners LLC MA trimmed its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 19.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,727 shares of the pipeline company’s stock after selling 4,355 shares during the quarter. Baldwin Wealth Partners LLC MA’s holdings in TC Energy were worth $825,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. grew its stake in TC Energy by 156.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company’s stock worth $321,778,000 after purchasing an additional 4,126,801 shares in the last quarter. Geode Capital Management LLC lifted its holdings in TC Energy by 8.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,712,660 shares of the pipeline company’s stock worth $225,890,000 after buying an additional 360,548 shares during the last quarter. Merewether Investment Management LP grew its position in shares of TC Energy by 37.9% in the 3rd quarter. Merewether Investment Management LP now owns 4,097,600 shares of the pipeline company’s stock worth $194,776,000 after acquiring an additional 1,127,000 shares in the last quarter. Kayne Anderson Capital Advisors LP increased its holdings in shares of TC Energy by 29.2% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 3,198,140 shares of the pipeline company’s stock valued at $152,072,000 after acquiring an additional 722,619 shares during the last quarter. Finally, Swiss National Bank raised its position in shares of TC Energy by 0.8% during the 3rd quarter. Swiss National Bank now owns 3,137,901 shares of the pipeline company’s stock valued at $149,401,000 after acquiring an additional 24,800 shares in the last quarter. Institutional investors own 83.13% of the company’s stock.

TC Energy Stock Down 2.4 %

TRP stock opened at $46.42 on Monday. The firm’s 50-day moving average is $47.44 and its two-hundred day moving average is $46.00. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78. The company has a market capitalization of $48.23 billion, a price-to-earnings ratio of 12.87, a price-to-earnings-growth ratio of 4.45 and a beta of 0.82. TC Energy Co. has a 52 week low of $31.83 and a 52 week high of $50.37.

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 (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $2.83 billion. On average, analysts forecast that TC Energy Co. will post 2.95 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company 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 dividend of $0.822 per share. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. This represents a $3.29 dividend on an annualized basis and a yield of 7.08%. The ex-dividend date is Tuesday, December 31st. TC Energy’s payout ratio is presently 63.43%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on TRP shares. TD Securities started coverage on shares of TC Energy in a research note on Wednesday, January 15th. They set a “buy” rating on the stock. JPMorgan Chase & Co. upgraded TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. The Goldman Sachs Group upped their price target on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research report on Monday, October 21st. BMO Capital Markets lifted their price objective on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research report on Wednesday, November 20th. Finally, UBS Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $55.67.

About TC Energy

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.