TC Energy Co. (NYSE:TRP) Shares Sold by Infrastructure Capital Advisors LLC

Infrastructure Capital Advisors LLC cut its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 88.0% during the second quarter, HoldingsChannel reports. The firm owned 7,943 shares of the pipeline company’s stock after selling 58,404 shares during the period. Infrastructure Capital Advisors LLC’s holdings in TC Energy were worth $393,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of TRP. Parallel Advisors LLC increased its stake in TC Energy by 123.8% in the second quarter. Parallel Advisors LLC now owns 508 shares of the pipeline company’s stock valued at $25,000 after purchasing an additional 281 shares during the period. Rockefeller Capital Management L.P. increased its stake in TC Energy by 54.4% in the first quarter. Rockefeller Capital Management L.P. now owns 715 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 252 shares during the period. Eudaimonia Partners LLC increased its stake in TC Energy by 65.3% in the first quarter. Eudaimonia Partners LLC now owns 1,284 shares of the pipeline company’s stock valued at $59,000 after purchasing an additional 507 shares during the period. Aspire Private Capital LLC acquired a new position in shares of TC Energy during the second quarter worth about $64,000. Finally, Stonebridge Capital Advisors LLC acquired a new position in shares of TC Energy during the first quarter worth about $84,000. Institutional investors own 69.40% of the company’s stock.

Shares of NYSE TRP traded up $0.96 on Thursday, hitting $52.55. The company’s stock had a trading volume of 56,838 shares, compared to its average volume of 1,878,644. TC Energy Co. has a 12-month low of $38.80 and a 12-month high of $53.65. The company has a market capitalization of $51.46 billion, a price-to-earnings ratio of 32.72, a price-to-earnings-growth ratio of 2.37 and a beta of 0.79. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.61 and a quick ratio of 0.55. The stock has a 50 day moving average of $48.42 and a 200-day moving average of $49.21.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Thursday, July 29th. The pipeline company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.11. TC Energy had a net margin of 16.25% and a return on equity of 14.84%. The company had revenue of $2.59 billion for the quarter. Sell-side analysts expect that TC Energy Co. will post 3.38 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 29th. Investors of record on Thursday, September 30th will be paid a dividend of $0.6917 per share. This represents a $2.77 annualized dividend and a dividend yield of 5.27%. The ex-dividend date of this dividend is Wednesday, September 29th. TC Energy’s payout ratio is 86.94%.

A number of research analysts have recently issued reports on the stock. Morgan Stanley lowered shares of TC Energy from an “overweight” rating to an “equal weight” rating and set a $76.00 price target on the stock. in a research note on Tuesday, July 20th. CIBC boosted their price target on shares of TC Energy from C$70.00 to C$74.00 and gave the stock an “outperform” rating in a research note on Friday, June 18th. The Goldman Sachs Group lowered shares of TC Energy from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $75.00 to $63.00 in a research note on Monday, September 13th. Finally, JPMorgan Chase & Co. restated a “hold” rating and set a C$68.00 target price on shares of TC Energy in a research report on Monday, August 23rd. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $69.25.

TC Energy Profile

TC Energy Corporation engages in the provision of energy infrastructure services. It operates through the following business segments: Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, Power and Storage, and Corporate. The Canadian Natural Gas Pipelines segment consists of regulated natural gas pipelines.

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

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