TC Energy Co. (NYSE:TRP) Stock Holdings Lessened by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC reduced its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 5.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 39,027 shares of the pipeline company’s stock after selling 2,157 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in TC Energy were worth $1,856,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Fortitude Family Office LLC bought a new position in shares of TC Energy in the 3rd quarter worth about $28,000. Blue Trust Inc. lifted its position in shares of TC Energy by 72.0% in the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after buying an additional 267 shares during the last quarter. EdgeRock Capital LLC bought a new position in shares of TC Energy in the 2nd quarter worth about $25,000. Whittier Trust Co. of Nevada Inc. lifted its position in TC Energy by 138.8% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 429 shares during the last quarter. Finally, Mather Group LLC. bought a new stake in TC Energy in the 2nd quarter valued at about $33,000. 83.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TRP. BMO Capital Markets lifted their price objective on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research report on Wednesday, November 20th. StockNews.com began coverage on shares of TC Energy in a research report on Wednesday. They issued a “hold” rating on the stock. The Goldman Sachs Group lifted their price objective on shares of TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research report on Monday, October 21st. Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. Finally, UBS Group raised shares of TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, TC Energy presently has an average rating of “Hold” and an average price target of $55.67.

TC Energy Stock Down 1.4 %

TC Energy stock opened at $48.25 on Friday. The stock has a market cap of $50.08 billion, a price-to-earnings ratio of 13.37, a PEG ratio of 4.09 and a beta of 0.82. 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’s 50-day moving average price is $47.59 and its two-hundred day moving average price is $43.83. TC Energy Co. has a 52 week low of $31.83 and a 52 week high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.06. The company had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. On average, analysts expect that TC Energy Co. will post 3 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.822 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.29 annualized dividend and a dividend yield of 6.81%. This is a boost from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s payout ratio is currently 78.95%.

About TC Energy

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.