TC Energy Co. (NYSE:TRP) Shares Sold by Benedict Financial Advisors Inc.

Benedict Financial Advisors Inc. cut its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 1.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,266 shares of the pipeline company’s stock after selling 475 shares during the quarter. Benedict Financial Advisors Inc.’s holdings in TC Energy were worth $2,248,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its stake in TC Energy by 3.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 17,033 shares of the pipeline company’s stock worth $810,000 after purchasing an additional 631 shares during the period. PFG Investments LLC purchased a new stake in TC Energy during the 3rd quarter worth approximately $239,000. Mediolanum International Funds Ltd lifted its holdings in TC Energy by 11.2% during the 3rd quarter. Mediolanum International Funds Ltd now owns 28,021 shares of the pipeline company’s stock worth $1,311,000 after buying an additional 2,832 shares in the last quarter. Tectonic Advisors LLC purchased a new position in TC Energy in the 3rd quarter valued at approximately $314,000. Finally, Spirit of America Management Corp NY grew its stake in shares of TC Energy by 5.6% in the third quarter. Spirit of America Management Corp NY now owns 73,828 shares of the pipeline company’s stock worth $3,511,000 after acquiring an additional 3,900 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Analyst Upgrades and Downgrades

TRP has been the topic of several analyst reports. StockNews.com assumed coverage on TC Energy in a report on Saturday, October 5th. They issued a “hold” rating for the company. JPMorgan Chase & Co. raised TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. Barclays upgraded shares of TC Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, July 17th. Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday. Finally, UBS Group raised shares of TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. Two analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, TC Energy currently has a consensus rating of “Hold” and an average target price of $48.50.

TC Energy Stock Up 0.6 %

TRP traded up $0.27 on Friday, reaching $47.26. The company’s stock had a trading volume of 1,364,790 shares, compared to its average volume of 3,184,181. The company has a market capitalization of $47.26 billion, a price-to-earnings ratio of 24.36, a P/E/G ratio of 3.92 and a beta of 0.81. TC Energy Co. has a fifty-two week low of $30.61 and a fifty-two week high of $48.25. 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 stock has a 50 day moving average of $46.20 and a two-hundred day moving average of $41.50.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Thursday, August 1st. The pipeline company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.29. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. The firm had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same period last year, the firm posted $0.71 EPS. As a group, analysts forecast that TC Energy Co. will post 3.02 EPS for the current fiscal year.

TC Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be issued a $0.702 dividend. This represents a $2.81 annualized dividend and a dividend yield of 5.94%. The ex-dividend date of this dividend is Friday, September 27th. TC Energy’s payout ratio is currently 146.39%.

TC Energy Company 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.