Park Place Capital Corp Sells 1,179 Shares of TC Energy Co. (NYSE:TRP)

Park Place Capital Corp decreased its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 12.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,233 shares of the pipeline company’s stock after selling 1,179 shares during the quarter. Park Place Capital Corp’s holdings in TC Energy were worth $383,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of TRP. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of TC Energy by 156.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company’s stock valued at $321,778,000 after acquiring an additional 4,126,801 shares in the last quarter. Merewether Investment Management LP purchased a new position in shares of TC Energy during the second quarter valued at approximately $112,618,000. Marshall Wace LLP boosted its position in shares of TC Energy by 841.1% during the second quarter. Marshall Wace LLP now owns 2,040,863 shares of the pipeline company’s stock valued at $77,349,000 after buying an additional 1,824,008 shares during the last quarter. Zurich Insurance Group Ltd FI purchased a new position in TC Energy in the third quarter worth $73,162,000. Finally, Point72 Asset Management L.P. purchased a new position in TC Energy in the second quarter worth $50,257,000. Institutional investors own 83.13% of the company’s stock.

TC Energy Stock Performance

NYSE:TRP opened at $47.35 on Wednesday. The stock has a market cap of $49.20 billion, a P/E ratio of 13.14, a PEG ratio of 4.47 and a beta of 0.82. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78. TC Energy Co. has a twelve month low of $31.83 and a twelve month high of $50.37. The business’s 50-day moving average price is $47.52 and its two-hundred day moving average price is $45.80.

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 for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. The company had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.83 billion. As a group, equities analysts predict that TC Energy Co. will post 2.95 EPS for the current fiscal year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.822 per share. This represents a $3.29 annualized dividend and a yield of 6.94%. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, December 31st. TC Energy’s dividend payout ratio (DPR) is presently 63.16%.

Analyst Ratings Changes

Several research analysts have weighed in on TRP shares. StockNews.com assumed coverage on TC Energy in a research report on Wednesday, December 4th. They issued a “hold” rating on the stock. UBS Group upgraded TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. The Goldman Sachs Group increased their price target on TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research note on Monday, October 21st. TD Securities started coverage on TC Energy in a report on Wednesday, January 15th. They set a “buy” rating on the stock. Finally, Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, TC Energy currently has a consensus rating of “Hold” and an average price target of $55.67.

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.