US Bancorp DE Sells 1,771 Shares of TC Energy Co. (NYSE:TRP)

US Bancorp DE lessened its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 1.5% in the 4th quarter, Holdings Channel reports. The firm owned 116,510 shares of the pipeline company’s stock after selling 1,771 shares during the period. US Bancorp DE’s holdings in TC Energy were worth $5,421,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. First Command Advisory Services Inc. bought a new stake in shares of TC Energy in the 4th quarter valued at $46,000. Checchi Capital Advisers LLC grew its stake in TC Energy by 15.8% in the fourth quarter. Checchi Capital Advisers LLC now owns 5,137 shares of the pipeline company’s stock valued at $239,000 after acquiring an additional 699 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of TC Energy by 8.3% in the fourth quarter. Bank of New York Mellon Corp now owns 905,014 shares of the pipeline company’s stock worth $42,110,000 after acquiring an additional 69,419 shares in the last quarter. IFP Advisors Inc raised its position in shares of TC Energy by 7.0% during the fourth quarter. IFP Advisors Inc now owns 3,809 shares of the pipeline company’s stock worth $177,000 after purchasing an additional 249 shares during the period. Finally, Atlantic Family Wealth LLC bought a new position in shares of TC Energy during the 4th quarter valued at about $251,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Stock Up 0.5 %

Shares of TRP stock opened at $45.04 on Wednesday. The firm’s fifty day moving average price is $46.30 and its two-hundred day moving average price is $46.72. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56. TC Energy Co. has a 1 year low of $31.83 and a 1 year high of $50.37. The firm has a market capitalization of $46.81 billion, a P/E ratio of 13.90, a PEG ratio of 4.34 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.54. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.42 billion. During the same quarter in the previous year, the business earned $1.35 earnings per share. On average, equities analysts predict that TC Energy Co. will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.55%. This is a boost from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s dividend payout ratio is currently 71.91%.

Analyst Ratings Changes

A number of research firms recently issued reports on TRP. StockNews.com raised TC Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Royal Bank of Canada increased their price objective on shares of TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. BMO Capital Markets boosted 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. TD Securities began coverage on shares of TC Energy in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. Finally, Veritas raised TC Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, TC Energy has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

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.