TC Energy Corporation $TRP Stock Holdings Trimmed by HighTower Advisors LLC

HighTower Advisors LLC decreased its holdings in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 4.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 359,010 shares of the pipeline company’s stock after selling 16,710 shares during the quarter. HighTower Advisors LLC’s holdings in TC Energy were worth $19,534,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of TRP. Westside Investment Management Inc. lifted its holdings in TC Energy by 100.0% in the third quarter. Westside Investment Management Inc. now owns 594 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 297 shares during the period. Smartleaf Asset Management LLC raised its position in shares of TC Energy by 237.4% during the 3rd quarter. Smartleaf Asset Management LLC now owns 803 shares of the pipeline company’s stock worth $43,000 after buying an additional 565 shares in the last quarter. Sagard Holdings Management Inc. acquired a new stake in shares of TC Energy in the 2nd quarter worth approximately $46,000. SouthState Corp boosted its holdings in shares of TC Energy by 2,757.1% in the second quarter. SouthState Corp now owns 1,000 shares of the pipeline company’s stock valued at $49,000 after acquiring an additional 965 shares in the last quarter. Finally, City Holding Co. bought a new position in shares of TC Energy in the third quarter valued at approximately $72,000. 83.13% of the stock is owned by institutional investors and hedge funds.

TC Energy Stock Up 1.3%

Shares of TC Energy stock opened at $62.51 on Friday. TC Energy Corporation has a 12-month low of $43.59 and a 12-month high of $63.94. The firm has a market capitalization of $65.09 billion, a PE ratio of 26.90 and a beta of 0.73. The company has a quick ratio of 0.56, a current ratio of 0.63 and a debt-to-equity ratio of 1.66. The stock’s fifty day moving average is $56.81 and its 200-day moving average is $53.90.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. The business had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.94 billion. TC Energy had a return on equity of 10.52% and a net margin of 23.04%.During the same quarter last year, the company posted $1.05 EPS. Equities analysts anticipate that TC Energy Corporation will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be given a $0.8775 dividend. This represents a $3.51 annualized dividend and a dividend yield of 5.6%. This is an increase from TC Energy’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Tuesday, March 31st. TC Energy’s payout ratio is 106.90%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on TRP shares. National Bank Financial downgraded TC Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Barclays restated an “overweight” rating on shares of TC Energy in a report on Friday. Wall Street Zen raised TC Energy from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Weiss Ratings reissued a “buy (b-)” rating on shares of TC Energy in a report on Monday, December 29th. Finally, Canadian Imperial Bank of Commerce lowered shares of TC Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Seven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $72.50.

TC Energy Company Profile

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long?distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.