TC Energy Corporation $TRP Shares Sold by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. reduced its stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 99.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,162 shares of the pipeline company’s stock after selling 2,007,362 shares during the period. Westwood Holdings Group Inc.’s holdings in TC Energy were worth $252,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hilltop National Bank acquired a new stake in shares of TC Energy in the second quarter valued at about $32,000. Harbor Asset Planning Inc. purchased a new position in TC Energy in the second quarter valued at about $43,000. Truvestments Capital LLC purchased a new position in TC Energy in the first quarter valued at about $45,000. SouthState Corp lifted its position in shares of TC Energy by 2,757.1% during the 2nd quarter. SouthState Corp now owns 1,000 shares of the pipeline company’s stock valued at $49,000 after acquiring an additional 965 shares during the period. Finally, SVB Wealth LLC purchased a new stake in shares of TC Energy during the 1st quarter worth approximately $72,000. 83.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. US Capital Advisors downgraded TC Energy from a “moderate buy” rating to a “hold” rating in a research note on Thursday, August 21st. Scotiabank restated an “outperform” rating on shares of TC Energy in a research report on Monday, October 20th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of TC Energy in a research note on Thursday. BMO Capital Markets raised shares of TC Energy from a “market perform” rating to an “outperform” rating in a research note on Friday, November 7th. Finally, TD Securities restated a “buy” rating on shares of TC Energy in a report on Friday, October 17th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.00.

TC Energy Stock Performance

NYSE:TRP opened at $54.56 on Tuesday. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.61 and a quick ratio of 0.54. The firm has a market cap of $56.78 billion, a PE ratio of 18.62, a P/E/G ratio of 4.82 and a beta of 0.73. The firm has a 50 day simple moving average of $52.47 and a 200-day simple moving average of $50.50. TC Energy Corporation has a 1-year low of $43.51 and a 1-year high of $55.37.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Thursday, November 6th. The pipeline company reported $0.56 EPS for the quarter, hitting the consensus estimate of $0.56. The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $2.63 billion. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. During the same period in the previous year, the company earned $1.03 EPS. On average, equities analysts expect that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be paid a $0.85 dividend. The ex-dividend date is Wednesday, December 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.61. This represents a $3.40 annualized dividend and a yield of 6.2%. TC Energy’s payout ratio is currently 103.88%.

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.