TC Energy Co. (NYSE:TRP) Shares Sold by Stableford Capital II LLC

Stableford Capital II LLC reduced its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 1.9% in the 4th quarter, Holdings Channel reports. The firm owned 29,564 shares of the pipeline company’s stock after selling 577 shares during the quarter. Stableford Capital II LLC’s holdings in TC Energy were worth $1,376,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Fortitude Family Office LLC acquired a new stake in shares of TC Energy in the third quarter valued at about $28,000. Blue Trust Inc. grew its position in TC Energy by 72.0% in the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after acquiring an additional 267 shares in the last quarter. Versant Capital Management Inc acquired a new stake in TC Energy in the fourth quarter valued at approximately $33,000. Point72 DIFC Ltd purchased a new stake in shares of TC Energy during the third quarter valued at approximately $39,000. Finally, UMB Bank n.a. acquired a new position in shares of TC Energy during the fourth quarter worth $47,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Trading Down 0.4 %

Shares of NYSE TRP opened at $45.07 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78. The stock’s 50 day moving average price is $46.99 and its two-hundred day moving average price is $46.13. TC Energy Co. has a 52-week low of $31.83 and a 52-week high of $50.37. The stock has a market capitalization of $46.83 billion, a P/E ratio of 12.48, a PEG ratio of 4.34 and a beta of 0.82.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.06. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.83 billion. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. On average, analysts anticipate that TC Energy Co. will post 2.94 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were issued a $0.822 dividend. The ex-dividend date was 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 7.30%. TC Energy’s payout ratio is 63.43%.

Analysts Set New Price Targets

TRP has been the topic of several analyst reports. Morgan Stanley raised shares of TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. The Goldman Sachs Group lifted their target price on TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research report on Monday, October 21st. Veritas raised TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. BMO Capital Markets lifted their price objective on TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. upgraded TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $56.00.

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.