TC Energy Co. (NYSE:TRP) Shares Sold by Wrapmanager Inc.

Wrapmanager Inc. cut its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 9.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,409 shares of the pipeline company’s stock after selling 570 shares during the period. Wrapmanager Inc.’s holdings in TC Energy were worth $252,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Addenda Capital Inc. raised its stake in TC Energy by 4.4% in the fourth quarter. Addenda Capital Inc. now owns 1,034,497 shares of the pipeline company’s stock valued at $48,135,000 after buying an additional 43,639 shares in the last quarter. Captrust Financial Advisors raised its stake in TC Energy by 1.3% in the third 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 in the last quarter. Ritholtz Wealth Management raised its stake in TC Energy by 44.8% in the fourth quarter. Ritholtz Wealth Management now owns 23,957 shares of the pipeline company’s stock valued at $1,115,000 after buying an additional 7,412 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in TC Energy in the third quarter valued at $3,771,000. Finally, Harvest Portfolios Group Inc. raised its stake in TC Energy by 107.7% in the third quarter. Harvest Portfolios Group Inc. now owns 226,007 shares of the pipeline company’s stock valued at $10,743,000 after buying an additional 117,176 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TRP. StockNews.com upgraded TC Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. TD Securities began coverage on TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Veritas upgraded TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. Finally, Royal Bank of Canada lifted their target price on TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, TC Energy has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

TC Energy Stock Performance

NYSE TRP opened at $44.28 on Wednesday. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56. TC Energy Co. has a 52-week low of $31.83 and a 52-week high of $50.37. The business’s 50-day moving average price is $46.41 and its 200 day moving average price is $46.70. The firm has a market cap of $46.01 billion, a P/E ratio of 13.67, a P/E/G ratio of 4.34 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.54. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. The firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.42 billion. During the same quarter last year, the company posted $1.35 earnings per share. On average, equities research analysts expect that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.85 per share. The ex-dividend date is Monday, March 31st. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.68%. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s dividend payout ratio (DPR) is currently 71.91%.

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.