TC Energy Co. (NYSE:TRP) Stock Holdings Decreased by CNB Bank

CNB Bank reduced its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 4.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 21,013 shares of the pipeline company’s stock after selling 1,044 shares during the quarter. CNB Bank’s holdings in TC Energy were worth $821,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new position in TC Energy during the fourth quarter valued at approximately $519,894,000. Healthcare of Ontario Pension Plan Trust Fund grew its position in TC Energy by 70.5% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 16,540,018 shares of the pipeline company’s stock valued at $569,058,000 after purchasing an additional 6,840,000 shares in the last quarter. Canada Pension Plan Investment Board grew its position in TC Energy by 18.0% during the third quarter. Canada Pension Plan Investment Board now owns 24,574,983 shares of the pipeline company’s stock valued at $849,037,000 after purchasing an additional 3,740,495 shares in the last quarter. Blackstone Inc. grew its position in TC Energy by 540.4% during the third quarter. Blackstone Inc. now owns 3,117,031 shares of the pipeline company’s stock valued at $107,257,000 after purchasing an additional 2,630,324 shares in the last quarter. Finally, Morgan Stanley grew its position in TC Energy by 42.5% during the third quarter. Morgan Stanley now owns 6,821,231 shares of the pipeline company’s stock valued at $234,719,000 after purchasing an additional 2,034,846 shares in the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Price Performance

Shares of TC Energy stock opened at $35.70 on Friday. The firm has a fifty day simple moving average of $39.06 and a 200-day simple moving average of $37.99. The company has a current ratio of 0.96, a quick ratio of 0.88 and a debt-to-equity ratio of 1.65. TC Energy Co. has a 1-year low of $32.51 and a 1-year high of $42.49. The stock has a market capitalization of $35.70 billion, a price-to-earnings ratio of 17.59, a PEG ratio of 3.00 and a beta of 0.75.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Friday, February 16th. The pipeline company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.20. TC Energy had a net margin of 18.25% and a return on equity of 18.60%. The business had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $2.93 billion. On average, sell-side analysts expect that TC Energy Co. will post 2.98 earnings per share for the current year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be paid a $0.714 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 8.00%. This is a boost from TC Energy’s previous quarterly dividend of $0.67. The ex-dividend date is Wednesday, March 27th. TC Energy’s payout ratio is presently 139.41%.

Analysts Set New Price Targets

TRP has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their price objective on shares of TC Energy from $29.00 to $32.00 and gave the company a “sell” rating in a research report on Friday, January 26th. Barclays boosted their price objective on shares of TC Energy from $53.00 to $55.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. Jefferies Financial Group initiated coverage on shares of TC Energy in a research note on Tuesday, February 27th. They issued a “hold” rating for the company. TheStreet upgraded shares of TC Energy from a “c+” rating to a “b-” rating in a research note on Wednesday, March 20th. Finally, Stifel Nicolaus initiated coverage on shares of TC Energy in a research note on Thursday, January 18th. They issued a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $48.83.

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.