TC Energy Co. (NYSE:TRP) Shares Sold by Cravens & Co Advisors LLC

Cravens & Co Advisors LLC decreased its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 13.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,245 shares of the pipeline company’s stock after selling 945 shares during the quarter. Cravens & Co Advisors LLC’s holdings in TC Energy were worth $297,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TRP. Canada Pension Plan Investment Board increased its stake in TC Energy by 107.1% during the second quarter. Canada Pension Plan Investment Board now owns 19,462,155 shares of the pipeline company’s stock worth $737,609,000 after acquiring an additional 10,065,000 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of TC Energy by 156.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company’s stock worth $321,778,000 after purchasing an additional 4,126,801 shares during the period. Merewether Investment Management LP acquired a new stake in shares of TC Energy during the 2nd quarter worth about $112,618,000. Cardinal Capital Management Inc. raised its holdings in TC Energy by 101.4% in the 2nd quarter. Cardinal Capital Management Inc. now owns 5,068,758 shares of the pipeline company’s stock valued at $192,024,000 after buying an additional 2,551,926 shares during the period. Finally, Marshall Wace LLP lifted its position in TC Energy by 841.1% in the second quarter. Marshall Wace LLP now owns 2,040,863 shares of the pipeline company’s stock valued at $77,349,000 after buying an additional 1,824,008 shares during the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Trading Down 0.7 %

TRP opened at $48.74 on Wednesday. The firm has a market cap of $50.59 billion, a price-to-earnings ratio of 13.50, a price-to-earnings-growth ratio of 4.12 and a beta of 0.81. TC Energy Co. has a 52 week low of $31.83 and a 52 week high of $50.37. The business’s 50 day moving average is $47.32 and its two-hundred day moving average is $43.41. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results 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 net margin of 31.15% and a return on equity of 12.92%. The business had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.83 billion. On average, research analysts predict that TC Energy Co. will post 2.98 EPS for the current year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a dividend of $0.822 per share. The ex-dividend date is Tuesday, December 31st. This represents a $3.29 dividend on an annualized basis and a dividend yield of 6.75%. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s dividend payout ratio (DPR) is currently 78.95%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. raised TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. UBS Group raised 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 price objective on shares of TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a report on Monday, October 21st. BMO Capital Markets increased their target price on shares of TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a report on Wednesday, November 20th. Finally, Veritas upgraded shares of TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $55.67.

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.