Triasima Portfolio Management inc. Reduces Stock Position in TC Energy Co. (NYSE:TRP)

Triasima Portfolio Management inc. reduced its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 9.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 268,280 shares of the pipeline company’s stock after selling 28,412 shares during the period. TC Energy makes up about 2.4% of Triasima Portfolio Management inc.’s investment portfolio, making the stock its 6th largest position. Triasima Portfolio Management inc.’s holdings in TC Energy were worth $12,496,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Captrust Financial Advisors grew its stake in shares of TC Energy by 1.3% in the 3rd quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock worth $871,000 after purchasing an additional 242 shares during the last quarter. Prospera Financial Services Inc boosted its holdings in TC Energy by 4.8% during the third quarter. Prospera Financial Services Inc now owns 5,754 shares of the pipeline company’s stock worth $274,000 after buying an additional 262 shares in the last quarter. First Horizon Advisors Inc. grew its position in TC Energy by 8.1% in the third quarter. First Horizon Advisors Inc. now owns 3,505 shares of the pipeline company’s stock worth $167,000 after buying an additional 264 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of 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. Finally, Cohen Investment Advisors LLC lifted its position in shares of TC Energy by 2.9% during the 4th quarter. Cohen Investment Advisors LLC now owns 9,831 shares of the pipeline company’s stock valued at $457,000 after acquiring an additional 279 shares during the last quarter. 83.13% of the stock is currently owned by institutional investors.

TC Energy Price Performance

Shares of TRP opened at $46.98 on Friday. The business’s 50-day moving average is $46.85 and its 200-day moving average is $46.29. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23. The company has a market capitalization of $48.81 billion, a price-to-earnings ratio of 13.01, a P/E/G ratio of 4.31 and a beta of 0.81. TC Energy Co. has a fifty-two week low of $31.83 and a fifty-two week high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.06. The firm had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. Equities research analysts expect that TC Energy Co. will post 2.95 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on TRP shares. StockNews.com assumed coverage on TC Energy in a report on Wednesday, December 4th. They issued a “hold” rating on the stock. BMO Capital Markets boosted their price objective on TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. upgraded shares of TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. The Goldman Sachs Group boosted their price target 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. Finally, TD Securities started coverage on shares of TC Energy in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $56.00.

TC Energy 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 93,600 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.