Weaver C. Barksdale & Associates Inc. Trims Stake in TC Energy Co. (NYSE:TRP)

Weaver C. Barksdale & Associates Inc. decreased its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 2.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,237 shares of the pipeline company’s stock after selling 740 shares during the quarter. Weaver C. Barksdale & Associates Inc.’s holdings in TC Energy were worth $1,361,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Thrivent Financial for Lutherans purchased a new stake in shares of TC Energy in the 3rd quarter worth approximately $236,000. Prospera Financial Services Inc lifted its holdings in TC Energy by 4.8% during the third quarter. Prospera Financial Services Inc now owns 5,754 shares of the pipeline company’s stock worth $274,000 after buying an additional 262 shares during the period. Citigroup Inc. boosted its position in TC Energy by 73.9% during the 3rd quarter. Citigroup Inc. now owns 166,822 shares of the pipeline company’s stock valued at $7,939,000 after acquiring an additional 70,905 shares in the last quarter. Cerity Partners LLC increased its holdings in shares of TC Energy by 72.9% in the 3rd quarter. Cerity Partners LLC now owns 20,538 shares of the pipeline company’s stock valued at $977,000 after acquiring an additional 8,660 shares during the period. Finally, Brown Brothers Harriman & Co. bought a new position in shares of TC Energy in the 3rd quarter worth $530,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Stock Down 0.8 %

TC Energy stock opened at $48.89 on Wednesday. TC Energy Co. has a 52 week low of $34.95 and a 52 week high of $50.37. The firm has a market cap of $50.80 billion, a price-to-earnings ratio of 15.09, a price-to-earnings-growth ratio of 4.34 and a beta of 0.83. The business’s 50-day moving average price is $46.45 and its 200 day moving average price is $46.91. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.54. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. The firm had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.42 billion. During the same period in the previous year, the firm earned $1.35 EPS. As a group, sell-side analysts anticipate that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.85 per share. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. This represents a $3.40 annualized dividend and a dividend yield of 6.95%. The ex-dividend date is Monday, March 31st. TC Energy’s dividend payout ratio is presently 72.53%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on TRP shares. US Capital Advisors raised TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. Veritas raised shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. Royal Bank of Canada increased their target price on shares of TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. StockNews.com lowered shares of TC Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Finally, TD Securities initiated coverage on TC Energy in a report on Wednesday, January 15th. They set a “buy” rating for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, TC Energy has an average rating of “Moderate Buy” and a consensus price target of $62.00.

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.