Gulf International Bank UK Ltd Lowers Stock Holdings in TC Energy Co. (NYSE:TRP)

Gulf International Bank UK Ltd lowered its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 27.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,172 shares of the pipeline company’s stock after selling 809 shares during the quarter. Gulf International Bank UK Ltd’s holdings in TC Energy were worth $101,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Blue Trust Inc. raised its stake in shares of TC Energy by 72.0% during the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after acquiring an additional 267 shares in the last quarter. Versant Capital Management Inc purchased a new position in TC Energy during the fourth quarter valued at approximately $33,000. Point72 DIFC Ltd purchased a new position in TC Energy during the third quarter valued at approximately $39,000. UMB Bank n.a. purchased a new stake in shares of TC Energy in the fourth quarter valued at approximately $47,000. Finally, Rogco LP increased its position in shares of TC Energy by 100.0% in the fourth quarter. Rogco LP now owns 1,000 shares of the pipeline company’s stock valued at $47,000 after buying an additional 500 shares in the last quarter. Institutional investors own 83.13% of the company’s stock.

Analysts Set New Price Targets

TRP has been the subject of several recent research reports. StockNews.com raised TC Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. BMO Capital Markets boosted their price target 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. Veritas raised shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. Finally, Royal Bank of Canada lifted their price objective on shares of TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

TC Energy Price Performance

TC Energy stock opened at $44.69 on Monday. TC Energy Co. has a 12-month low of $31.83 and a 12-month high of $50.37. The stock has a market capitalization of $46.44 billion, a P/E ratio of 13.79, a P/E/G ratio of 4.34 and a beta of 0.81. The firm’s 50-day moving average is $46.35 and its two-hundred day moving average is $46.71. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.54. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.42 billion. During the same period in the prior year, the firm posted $1.35 EPS. Equities analysts predict 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. Stockholders of record on Monday, March 31st will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.61%. This is an increase from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s dividend payout ratio (DPR) is presently 71.91%.

TC Energy 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.