Bell Bank Sells 29,129 Shares of TC Energy Co. (NYSE:TRP)

by · The Markets Daily

Bell Bank cut its position in TC Energy Co. (NYSE:TRP – Free Report) (TSE:TRP) by 15.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 153,772 shares of the pipeline company’s stock after selling 29,129 shares during the period. Bell Bank’s holdings in TC Energy were worth $7,312,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TRP. EdgeRock Capital LLC acquired a new stake in shares of TC Energy during the second quarter worth about $25,000. Whittier Trust Co. of Nevada Inc. raised its holdings in 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 buying an additional 429 shares during the period. Fortitude Family Office LLC bought a new position in TC Energy in the third quarter valued at approximately $28,000. Blue Trust Inc. lifted its stake 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. Finally, Mather Group LLC. acquired a new position in shares of TC Energy in the second quarter valued at approximately $33,000. 83.13% of the stock is owned by institutional investors.

TC Energy Stock Performance

Shares of NYSE TRP opened at $48.45 on Thursday. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78. The company has a market capitalization of $50.28 billion, a P/E ratio of 13.42, a P/E/G ratio of 4.06 and a beta of 0.81. TC Energy Co. has a 12 month low of $31.83 and a 12 month high of $50.22. The stock has a 50 day moving average of $46.75 and a 200-day moving average of $42.55.

TC Energy (NYSE:TRP – Get Free Report) (TSE:TRP) last announced its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate 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, equities research analysts predict that TC Energy Co. will post 2.98 EPS for the current year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.822 dividend. This is a boost from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, December 31st. This represents a $3.29 annualized dividend and a yield of 6.79%. TC Energy’s payout ratio is 78.95%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. The Goldman Sachs Group raised their price objective on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a report on Monday, October 21st. Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. Veritas raised TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. Finally, StockNews.com initiated coverage on TC Energy in a research report on Saturday, October 5th. They set a “hold” rating for the company. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $48.50.

Get Our Latest Research Report on TRP

About TC Energy

(Free Report)

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.

Further Reading

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