TC Energy Co. (NYSE:TRP) Shares Sold by First County Bank CT

First County Bank CT cut its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 2.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 24,191 shares of the pipeline company’s stock after selling 526 shares during the period. First County Bank CT’s holdings in TC Energy were worth $1,126,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Canada Pension Plan Investment Board boosted its stake in TC Energy by 107.1% in the second quarter. Canada Pension Plan Investment Board now owns 19,462,155 shares of the pipeline company’s stock valued at $737,609,000 after acquiring an additional 10,065,000 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in TC Energy by 156.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company’s stock valued at $321,778,000 after purchasing an additional 4,126,801 shares during the period. Merewether Investment Management LP bought a new position in TC Energy during the 2nd quarter worth $112,618,000. Marshall Wace LLP increased its position in TC Energy by 841.1% in the second quarter. Marshall Wace LLP now owns 2,040,863 shares of the pipeline company’s stock worth $77,349,000 after buying an additional 1,824,008 shares during the period. Finally, Zurich Insurance Group Ltd FI bought a new stake in TC Energy in the third quarter valued at $73,162,000. Institutional investors own 83.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TRP. BMO Capital Markets increased their price objective on shares of TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a report on Wednesday, November 20th. StockNews.com began coverage on TC Energy in a report on Wednesday, December 4th. They set a “hold” rating on the stock. JPMorgan Chase & Co. raised TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. Finally, Veritas raised TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $55.67.

TC Energy Price Performance

NYSE:TRP traded up $0.50 during mid-day trading on Tuesday, reaching $47.83. 690,343 shares of the stock were exchanged, compared to its average volume of 1,285,550. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78. The business has a fifty day moving average price of $47.67 and a 200 day moving average price of $45.13. TC Energy Co. has a 1-year low of $31.83 and a 1-year high of $50.37. The firm has a market capitalization of $49.69 billion, a PE ratio of 13.25, a PEG ratio of 3.88 and a beta of 0.82.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. Research analysts expect that TC Energy Co. will post 3 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.822 per share. The ex-dividend date is Tuesday, December 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. This represents a $3.29 annualized dividend and a dividend yield of 6.87%. TC Energy’s dividend payout ratio (DPR) is currently 67.31%.

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.