TC Energy Co. (NYSE:TRP) Shares Sold by Financial Advocates Investment Management

Financial Advocates Investment Management cut its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 8.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 6,344 shares of the pipeline company’s stock after selling 606 shares during the period. Financial Advocates Investment Management’s holdings in TC Energy were worth $295,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Fortitude Family Office LLC acquired a new position in TC Energy in the third quarter valued at $28,000. Blue Trust Inc. grew its holdings in TC Energy by 72.0% in the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after buying an additional 267 shares during the period. Versant Capital Management Inc acquired a new position in shares of TC Energy during the 4th quarter valued at about $33,000. Point72 DIFC Ltd purchased a new position in shares of TC Energy during the 3rd quarter worth about $39,000. Finally, UMB Bank n.a. acquired a new stake in shares of TC Energy in the fourth quarter worth approximately $47,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on TRP. StockNews.com started coverage on shares of TC Energy in a research report on Wednesday, December 4th. They set a “hold” rating for the company. The Goldman Sachs Group increased their target price on TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research report on Monday, October 21st. TD Securities started coverage on TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. Finally, BMO Capital Markets boosted their target price on TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a report on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, TC Energy currently has an average rating of “Hold” and a consensus target price of $56.00.

TC Energy Price Performance

Shares of NYSE TRP opened at $46.89 on Monday. The company has a market capitalization of $48.72 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 4.45 and a beta of 0.81. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23. TC Energy Co. has a 1-year low of $31.83 and a 1-year high of $50.37. The business has a 50-day moving average of $46.78 and a 200-day moving average of $46.37.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data 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 net margin of 31.15% and a return on equity of 12.92%. The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.83 billion. On average, equities analysts anticipate that TC Energy Co. will post 2.92 EPS for the current fiscal year.

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.