Choreo LLC Sells 471 Shares of TC Energy Co. (NYSE:TRP)

Choreo LLC trimmed its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 9.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,765 shares of the pipeline company’s stock after selling 471 shares during the period. Choreo LLC’s holdings in TC Energy were worth $222,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Captrust Financial Advisors lifted its holdings in shares of TC Energy by 1.3% in the third quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock worth $871,000 after acquiring an additional 242 shares during the last quarter. Prospera Financial Services Inc grew its holdings in shares of TC Energy by 4.8% during the third quarter. Prospera Financial Services Inc now owns 5,754 shares of the pipeline company’s stock worth $274,000 after purchasing an additional 262 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in TC Energy by 8.1% in the 3rd quarter. First Horizon Advisors Inc. now owns 3,505 shares of the pipeline company’s stock valued at $167,000 after buying an additional 264 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of 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 purchasing an additional 267 shares during the period. Finally, Cohen Investment Advisors LLC increased its holdings in TC Energy by 2.9% in the fourth quarter. Cohen Investment Advisors LLC now owns 9,831 shares of the pipeline company’s stock valued at $457,000 after purchasing an additional 279 shares during the period. 83.13% of the stock is owned by institutional investors.

TC Energy Stock Down 2.8 %

TC Energy stock opened at $46.05 on Friday. The stock has a market cap of $47.85 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 4.45 and a beta of 0.81. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31. The firm’s 50-day simple moving average is $46.61 and its 200 day simple moving average is $46.52. TC Energy Co. has a fifty-two week low of $31.83 and a fifty-two week high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.54. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. The firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.42 billion. During the same period in the prior year, the firm earned $1.35 EPS. Research analysts predict that TC Energy Co. will post 2.92 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 7.38%. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s payout ratio is currently 63.43%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TRP. The Goldman Sachs Group raised their price objective on TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research report on Monday, October 21st. Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. TD Securities started coverage on TC Energy in a report on Wednesday, January 15th. They set a “buy” rating on the stock. BMO Capital Markets lifted 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. Finally, US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, TC Energy currently has a consensus rating of “Hold” and an average target price of $56.00.

TC Energy Company 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.