TC Energy Co. (NYSE:TRP) Shares Sold by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. cut its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 23.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 440,530 shares of the pipeline company’s stock after selling 131,848 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in TC Energy were worth $20,943,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Silvercrest Asset Management Group LLC increased its position in shares of TC Energy by 5.8% in the first quarter. Silvercrest Asset Management Group LLC now owns 30,000 shares of the pipeline company’s stock valued at $1,206,000 after buying an additional 1,637 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its position in shares of TC Energy by 38.2% in the first quarter. B. Riley Wealth Advisors Inc. now owns 7,253 shares of the pipeline company’s stock valued at $292,000 after buying an additional 2,003 shares in the last quarter. Atria Investments Inc increased its position in shares of TC Energy by 2.2% in the first quarter. Atria Investments Inc now owns 50,575 shares of the pipeline company’s stock valued at $2,033,000 after buying an additional 1,101 shares in the last quarter. Cetera Investment Advisers increased its position in shares of TC Energy by 74.1% in the first quarter. Cetera Investment Advisers now owns 98,729 shares of the pipeline company’s stock valued at $3,972,000 after buying an additional 42,024 shares in the last quarter. Finally, Cetera Advisors LLC increased its position in shares of TC Energy by 499.4% in the first quarter. Cetera Advisors LLC now owns 47,707 shares of the pipeline company’s stock valued at $1,919,000 after buying an additional 39,748 shares in the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

TC Energy Stock Down 0.7 %

Shares of TRP traded down $0.33 during midday trading on Thursday, hitting $48.41. The company had a trading volume of 2,710,405 shares, compared to its average volume of 3,054,366. The company’s 50-day simple moving average is $47.36 and its 200-day simple moving average is $43.45. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31. The firm has a market capitalization of $50.25 billion, a P/E ratio of 13.41, a P/E/G ratio of 4.12 and a beta of 0.81. TC Energy Co. has a 1 year low of $31.83 and a 1 year high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $2.83 billion. As a group, sell-side analysts expect that TC Energy Co. will post 2.98 EPS for the current year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.822 per share. This represents a $3.29 annualized dividend and a dividend yield of 6.79%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s dividend payout ratio (DPR) is 67.31%.

Analyst Ratings Changes

TRP has been the subject of several recent research reports. StockNews.com initiated coverage on TC Energy in a research note on Tuesday. They issued a “hold” rating for the company. Veritas raised TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. The Goldman Sachs Group raised their target price on TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research note on Monday, October 21st. Finally, JPMorgan Chase & Co. upgraded TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $55.67.

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.