TC Energy Co. (NYSE:TRP) Shares Sold by Tobam

Tobam lessened its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 12.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,139 shares of the pipeline company’s stock after selling 1,060 shares during the quarter. Tobam’s holdings in TC Energy were worth $271,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TRP. New Hampshire Trust boosted its stake in shares of TC Energy by 3.8% in the first quarter. New Hampshire Trust now owns 7,263 shares of the pipeline company’s stock worth $292,000 after acquiring an additional 269 shares during the last quarter. Glassman Wealth Services boosted its position in shares of TC Energy by 61.0% in the 4th quarter. Glassman Wealth Services now owns 726 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 275 shares during the period. Wealthspire Advisors LLC lifted its position in TC Energy by 2.1% during the 4th quarter. Wealthspire Advisors LLC now owns 14,383 shares of the pipeline company’s stock worth $562,000 after acquiring an additional 300 shares during the period. Financial Advocates Investment Management raised its stake in shares of TC Energy by 5.4% during the 4th quarter. Financial Advocates Investment Management now owns 6,121 shares of the pipeline company’s stock worth $240,000 after buying an additional 316 shares in the last quarter. Finally, Windsor Advisory Group LLC increased its stake in TC Energy by 2.5% in the 1st quarter. Windsor Advisory Group LLC now owns 12,831 shares of the pipeline company’s stock valued at $516,000 after purchasing an additional 316 shares in the last quarter. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Barclays upgraded TC Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $44.67.

TC Energy Price Performance

TRP traded up $0.38 during trading on Friday, reaching $46.13. The stock had a trading volume of 875,248 shares, compared to its average volume of 2,899,822. The firm has a market capitalization of $47.86 billion, a price-to-earnings ratio of 23.54, a price-to-earnings-growth ratio of 3.73 and a beta of 0.79. TC Energy Co. has a 1-year low of $32.51 and a 1-year high of $46.16. The stock has a 50 day moving average of $41.31 and a two-hundred day moving average of $39.54. The company has a quick ratio of 0.68, a current ratio of 0.76 and a debt-to-equity ratio of 1.57.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.29. The company had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.78 billion. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. During the same period in the prior year, the company earned $0.71 earnings per share. As a group, equities analysts anticipate that TC Energy Co. will post 3.05 EPS for the current fiscal year.

TC Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be issued a dividend of $0.702 per share. This represents a $2.81 annualized dividend and a dividend yield of 6.09%. The ex-dividend date is Friday, September 27th. TC Energy’s payout ratio is 144.85%.

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.