TC Energy Co. (NYSE:TRP) Shares Sold by Cravens & Co Advisors LLC

Cravens & Co Advisors LLC decreased its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 13.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,245 shares of the pipeline company’s stock after selling 945 shares during the period. Cravens & Co Advisors LLC’s holdings in TC Energy were worth $297,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. EdgeRock Capital LLC purchased a new position in TC Energy in the second quarter worth $25,000. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of TC Energy by 138.8% in the 2nd 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 in the last quarter. 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. boosted its holdings in TC Energy by 72.0% during the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after buying an additional 267 shares in the last quarter. Finally, Mather Group LLC. acquired a new position in TC Energy during the second quarter worth about $33,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TRP has been the topic of several research analyst reports. StockNews.com started coverage on TC Energy in a research note on Tuesday. They set a “hold” rating on the stock. UBS Group raised shares of TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. BMO Capital Markets upped 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 note on Wednesday, November 20th. JPMorgan Chase & Co. raised shares of TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. Finally, The Goldman Sachs Group increased their price target on TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research note on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $55.67.

TC Energy Trading Down 0.7 %

NYSE TRP opened at $48.74 on Wednesday. The stock has a market cap of $50.59 billion, a P/E ratio of 13.50, a PEG ratio of 4.12 and a beta of 0.81. The company’s fifty day simple moving average is $47.32 and its 200-day simple moving average is $43.41. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78. 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 posted its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. The company had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.83 billion. Equities research analysts predict that TC Energy Co. will post 2.98 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.822 per share. This represents a $3.29 dividend on an annualized basis and a yield of 6.75%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s dividend payout ratio (DPR) is 78.95%.

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.