TC Energy Co. (NYSE:TRP) Shares Sold by Premier Fund Managers Ltd

Premier Fund Managers Ltd cut its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 11.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,000 shares of the pipeline company’s stock after selling 4,000 shares during the quarter. Premier Fund Managers Ltd’s holdings in TC Energy were worth $1,495,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Fortitude Family Office LLC acquired a new position in shares of TC Energy during the 3rd quarter worth $28,000. Blue Trust Inc. increased its holdings in TC Energy by 72.0% in the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after buying an additional 267 shares in the last quarter. EdgeRock Capital LLC acquired a new stake in shares of TC Energy during the 2nd quarter valued at approximately $25,000. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of TC Energy by 138.8% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 429 shares in the last quarter. Finally, Mather Group LLC. acquired a new stake in shares of TC Energy in the 2nd quarter worth approximately $33,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Stock Down 0.2 %

TRP stock opened at $49.83 on Wednesday. TC Energy Co. has a one year low of $31.83 and a one year high of $50.22. The stock has a market capitalization of $51.71 billion, a P/E ratio of 13.80, a PEG ratio of 4.12 and a beta of 0.81. The company has a 50 day moving average price of $47.01 and a two-hundred day moving average price of $43.01. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.83 billion. As a group, sell-side analysts expect that TC Energy Co. will post 2.98 EPS for the current year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.822 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.29 dividend on an annualized basis and a dividend yield of 6.60%. This is an increase from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s dividend payout ratio is currently 67.31%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. StockNews.com started coverage on TC Energy in a report on Monday. They set a “hold” rating for the company. UBS Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. The Goldman Sachs Group lifted their target price on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research report on Monday, October 21st. Veritas upgraded shares of TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. Finally, Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $48.50.

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.