Heathbridge Capital Management Ltd. lessened its position in shares of TC Energy Co. (NYSE:TRP – Free Report) (TSE:TRP) by 2.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 561,165 shares of the pipeline company’s stock after selling 12,200 shares during the period. TC Energy comprises 9.9% of Heathbridge Capital Management Ltd.’s holdings, making the stock its largest position. Heathbridge Capital Management Ltd.’s holdings in TC Energy were worth $22,692,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also modified their holdings of the company. ProShare Advisors LLC bought a new position in shares of TC Energy in the first quarter valued at $5,119,000. Envestnet Asset Management Inc. grew its holdings in TC Energy by 31.5% during the first quarter. Envestnet Asset Management Inc. now owns 1,179,342 shares of the pipeline company’s stock worth $45,873,000 after purchasing an additional 282,328 shares during the period. Jones Financial Companies Lllp boosted its stake in shares of TC Energy by 197.3% during the 1st quarter. Jones Financial Companies Lllp now owns 669 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 444 shares during the period. First Bank & Trust lifted its position in shares of TC Energy by 17.1% during the 2nd quarter. First Bank & Trust now owns 49,004 shares of the pipeline company’s stock valued at $1,980,000 after acquiring an additional 7,161 shares during the period. Finally, Cardinal Capital Management Inc. lifted its holdings in shares of TC Energy by 2.4% during the 2nd quarter. Cardinal Capital Management Inc. now owns 2,433,276 shares of the pipeline company’s stock worth $98,411,000 after acquiring an additional 56,521 shares during the period. 73.67% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several research analysts have commented on the stock. Wolfe Research upgraded shares of TC Energy from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, October 17th. The Goldman Sachs Group started coverage on TC Energy in a research note on Thursday, October 5th. They set a “sell” rating for the company. TheStreet lowered shares of TC Energy from a “c” rating to a “d+” rating in a report on Wednesday, November 8th. Scotiabank decreased their target price on shares of TC Energy from $64.00 to $55.00 and set an “outperform” rating on the stock in a research note on Monday, July 31st. Finally, Barclays dropped their price target on TC Energy from $51.00 to $50.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $55.17.
TC Energy Trading Up 1.6 %
Shares of TC Energy stock traded up $0.58 on Friday, hitting $36.70. 1,909,517 shares of the company’s stock traded hands, compared to its average volume of 2,394,071. The company has a market capitalization of $38.08 billion, a price-to-earnings ratio of -611.67, a price-to-earnings-growth ratio of 3.28 and a beta of 0.82. TC Energy Co. has a one year low of $32.51 and a one year high of $49.51. The company has a fifty day moving average of $35.35 and a two-hundred day moving average of $37.52. The company has a debt-to-equity ratio of 43.25, a current ratio of 0.86 and a quick ratio of 0.75.
TC Energy (NYSE:TRP – Get Free Report) (TSE:TRP) last announced its quarterly earnings results on Wednesday, November 8th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.04. The business had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.76 billion. TC Energy had a return on equity of 18.19% and a net margin of 0.10%. As a group, sell-side analysts expect that TC Energy Co. will post 2.76 earnings per share for the current year.
TC Energy Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, December 29th will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 7.30%. The ex-dividend date of this dividend is Thursday, December 28th. TC Energy’s payout ratio is currently -4,583.33%.
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 93,700 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.
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