CNB Bank Has $299,000 Stock Position in TC Energy Co. (NYSE:TRP)

CNB Bank lessened its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 29.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,283 shares of the pipeline company’s stock after selling 2,614 shares during the quarter. CNB Bank’s holdings in TC Energy were worth $299,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Signaturefd LLC boosted its holdings in shares of TC Energy by 1.6% in the 2nd quarter. Signaturefd LLC now owns 16,373 shares of the pipeline company’s stock worth $621,000 after acquiring an additional 261 shares in the last quarter. Blue Trust Inc. raised its position in TC Energy by 72.0% in the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 267 shares during the last quarter. Windsor Advisory Group LLC boosted its stake in TC Energy by 2.5% in the first quarter. Windsor Advisory Group LLC now owns 12,831 shares of the pipeline company’s stock worth $516,000 after purchasing an additional 316 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in shares of TC Energy by 2.3% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 15,005 shares of the pipeline company’s stock worth $604,000 after purchasing an additional 332 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC raised its holdings in shares of TC Energy by 1.9% in the first quarter. Mount Yale Investment Advisors LLC now owns 19,873 shares of the pipeline company’s stock valued at $799,000 after buying an additional 364 shares during the last quarter. 83.13% of the stock is currently owned by institutional investors.

TC Energy Stock Performance

TRP stock opened at $48.10 on Friday. TC Energy Co. has a twelve month low of $30.48 and a twelve month high of $48.20. The company has a quick ratio of 0.68, a current ratio of 0.76 and a debt-to-equity ratio of 1.57. The company has a market cap of $48.10 billion, a P/E ratio of 24.79, a price-to-earnings-growth ratio of 3.84 and a beta of 0.81. The business’s fifty day moving average is $45.87 and its 200-day moving average is $41.22.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.29. The firm had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.78 billion. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. During the same quarter in the prior year, the firm posted $0.71 earnings per share. Equities research analysts forecast that TC Energy Co. will post 3.05 EPS for the current year.

TC Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be issued a dividend of $0.702 per share. This represents a $2.81 dividend on an annualized basis and a yield of 5.84%. The ex-dividend date is Friday, September 27th. TC Energy’s dividend payout ratio is currently 146.39%.

Analyst Ratings Changes

A number of brokerages have commented on TRP. Veritas raised shares of TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. StockNews.com began coverage on shares of TC Energy in a report on Saturday, October 5th. They issued a “hold” rating for the company. UBS Group upgraded TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. upgraded TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. Finally, Barclays upgraded TC Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, TC Energy currently has an average rating of “Hold” and an average price target of $43.50.

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.