Axxcess Wealth Management LLC Lowers Stock Holdings in TC Energy Co. (NYSE:TRP)

Axxcess Wealth Management LLC trimmed its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 55.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,219 shares of the pipeline company’s stock after selling 7,700 shares during the period. Axxcess Wealth Management LLC’s holdings in TC Energy were worth $250,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. New Hampshire Trust boosted its position in TC Energy by 3.8% in the 1st quarter. New Hampshire Trust now owns 7,263 shares of the pipeline company’s stock valued at $292,000 after buying an additional 269 shares during the period. Glassman Wealth Services raised its holdings in shares of TC Energy by 61.0% in the 4th quarter. Glassman Wealth Services now owns 726 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 275 shares in the last quarter. Wealthspire Advisors LLC raised its holdings in shares of TC Energy by 2.1% in the 4th quarter. Wealthspire Advisors LLC now owns 14,383 shares of the pipeline company’s stock valued at $562,000 after purchasing an additional 300 shares in the last quarter. AdvisorNet Financial Inc raised its holdings in shares of TC Energy by 25.8% in the 4th quarter. AdvisorNet Financial Inc now owns 1,483 shares of the pipeline company’s stock valued at $58,000 after purchasing an additional 304 shares in the last quarter. Finally, Wealth Alliance raised its holdings in shares of TC Energy by 1.4% in the 4th quarter. Wealth Alliance now owns 22,531 shares of the pipeline company’s stock valued at $881,000 after purchasing an additional 304 shares in the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Barclays upgraded shares of TC Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, TC Energy has an average rating of “Hold” and an average target price of $48.83.

TC Energy Trading Up 1.2 %

NYSE TRP opened at $41.97 on Friday. The company has a fifty day simple moving average of $38.98 and a two-hundred day simple moving average of $38.76. The stock has a market cap of $41.97 billion, a P/E ratio of 21.63, a P/E/G ratio of 3.46 and a beta of 0.79. TC Energy Co. has a 12-month low of $32.51 and a 12-month high of $42.04. The company has a current ratio of 0.94, a quick ratio of 0.85 and a debt-to-equity ratio of 1.64.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Friday, May 3rd. The pipeline company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.09. The firm had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.12 billion. TC Energy had a net margin of 17.23% and a return on equity of 17.94%. On average, analysts forecast that TC Energy Co. will post 3.03 earnings per share for the current year.

TC Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be paid a $0.71 dividend. The ex-dividend date is Friday, June 28th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 6.77%. TC Energy’s payout ratio is currently 144.85%.

About TC Energy

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.