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

Citigroup Inc. decreased its holdings in TC Energy Co. (NYSE:TRPGet Rating) (TSE:TRP) by 56.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 322,368 shares of the pipeline company’s stock after selling 420,284 shares during the period. Citigroup Inc.’s holdings in TC Energy were worth $18,198,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of TC Energy by 0.6% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 142,602 shares of the pipeline company’s stock worth $8,055,000 after purchasing an additional 800 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of TC Energy by 13.0% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,891,523 shares of the pipeline company’s stock worth $388,578,000 after purchasing an additional 794,957 shares during the last quarter. Cetera Advisor Networks LLC lifted its position in shares of TC Energy by 6.0% during the 1st quarter. Cetera Advisor Networks LLC now owns 5,664 shares of the pipeline company’s stock worth $320,000 after purchasing an additional 323 shares during the last quarter. Private Advisor Group LLC lifted its position in shares of TC Energy by 9.1% during the 1st quarter. Private Advisor Group LLC now owns 103,642 shares of the pipeline company’s stock worth $5,848,000 after purchasing an additional 8,670 shares during the last quarter. Finally, Cetera Advisors LLC purchased a new stake in shares of TC Energy during the 1st quarter worth $216,000. Institutional investors and hedge funds own 70.14% of the company’s stock.

TC Energy Price Performance

Shares of NYSE:TRP opened at $48.03 on Friday. The company has a 50-day simple moving average of $51.43 and a 200-day simple moving average of $54.15. TC Energy Co. has a one year low of $44.77 and a one year high of $59.38. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.57 and a current ratio of 0.64. The stock has a market capitalization of $48.60 billion, a price-to-earnings ratio of 18.98, a PEG ratio of 3.89 and a beta of 0.71.

TC Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be paid a dividend of $0.699 per share. The ex-dividend date is Thursday, September 29th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 5.82%. TC Energy’s dividend payout ratio (DPR) is 110.28%.

Analyst Ratings Changes

Several research firms have recently issued reports on TRP. TD Securities lifted their price objective on shares of TC Energy from C$75.00 to C$76.00 in a research report on Thursday, August 11th. BMO Capital Markets reduced their price target on shares of TC Energy from C$76.00 to C$72.00 in a research report on Thursday, August 11th. CIBC raised shares of TC Energy from a “neutral” rating to a “sector outperform” rating in a research report on Thursday, May 12th. Scotiabank reduced their price target on shares of TC Energy from C$78.00 to C$76.00 in a research report on Friday, July 29th. Finally, Royal Bank of Canada reduced their price target on shares of TC Energy from C$79.00 to C$78.00 in a research report on Tuesday, August 2nd. Three analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $68.83.

TC Energy Profile

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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 Storage. The company builds and operates 93,300 km network 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.

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Institutional Ownership by Quarter for TC Energy (NYSE:TRP)

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