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

QV Investors Inc. reduced its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 41.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 494,495 shares of the pipeline company’s stock after selling 351,541 shares during the period. TC Energy comprises approximately 2.1% of QV Investors Inc.’s investment portfolio, making the stock its 16th largest position. QV Investors Inc.’s holdings in TC Energy were worth $23,532,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. EdgeRock Capital LLC purchased a new stake in shares of TC Energy in the 2nd quarter valued at approximately $25,000. Creekmur Asset Management LLC acquired a new stake in TC Energy in the 4th quarter valued at approximately $27,000. Whittier Trust Co. of Nevada Inc. raised its position in TC Energy by 138.8% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 429 shares during the period. Mather Group LLC. purchased a new stake in TC Energy in the second quarter valued at approximately $33,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in TC Energy during the second quarter worth $51,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on TRP. JPMorgan Chase & Co. upgraded TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday. Barclays upgraded shares of TC Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, July 17th. StockNews.com began coverage on shares of TC Energy in a research note on Saturday, October 5th. They issued a “hold” rating for the company. UBS Group raised shares of TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. Finally, Veritas raised shares of TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, TC Energy has an average rating of “Hold” and an average target price of $43.50.

TC Energy Stock Up 0.1 %

TRP stock opened at $46.82 on Wednesday. TC Energy Co. has a fifty-two week low of $30.48 and a fifty-two week high of $46.94. The company’s 50 day moving average price is $45.61 and its 200 day moving average price is $41.07. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.68 and a current ratio of 0.76. The firm has a market capitalization of $46.82 billion, a price-to-earnings ratio of 24.13, a PEG ratio of 3.68 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.29. The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.78 billion. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. During the same period in the prior year, the firm posted $0.71 EPS. On average, equities research analysts anticipate that TC Energy Co. will post 3.06 EPS for the current fiscal year.

TC Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be issued a dividend of $0.702 per share. This represents a $2.81 dividend on an annualized basis and a yield of 6.00%. The ex-dividend date of this dividend is Friday, September 27th. TC Energy’s dividend payout ratio (DPR) is 146.39%.

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.