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

Financial Advocates Investment Management lowered its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 8.7% in the 4th quarter, according to its most recent 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 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. raised its stake in 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 buying an additional 4,126,801 shares in the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in shares of TC Energy during the 3rd quarter valued at approximately $73,162,000. Merewether Investment Management LP lifted its stake in TC Energy by 37.9% during the third quarter. Merewether Investment Management LP now owns 4,097,600 shares of the pipeline company’s stock worth $194,776,000 after purchasing an additional 1,127,000 shares during the last quarter. Duff & Phelps Investment Management Co. boosted its holdings in TC Energy by 70.7% in the third quarter. Duff & Phelps Investment Management Co. now owns 1,763,915 shares of the pipeline company’s stock worth $83,874,000 after purchasing an additional 730,415 shares during the period. Finally, Kayne Anderson Capital Advisors LP increased its stake in TC Energy by 29.2% during the third quarter. Kayne Anderson Capital Advisors LP now owns 3,198,140 shares of the pipeline company’s stock valued at $152,072,000 after purchasing an additional 722,619 shares during the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on TRP shares. StockNews.com began coverage on shares of TC Energy in a research report on Wednesday, December 4th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. upgraded TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. TD Securities assumed coverage on TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. BMO Capital Markets raised their price target on TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a report on Wednesday, November 20th. Finally, US Capital Advisors raised TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $56.00.

TC Energy Price Performance

NYSE TRP opened at $46.89 on Monday. The company’s 50 day simple moving average is $46.78 and its 200 day simple moving average is $46.37. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23. The firm has a market capitalization of $48.72 billion, a PE ratio of 12.99, a P/E/G ratio of 4.45 and a beta of 0.81. TC Energy Co. has a 12 month low of $31.83 and a 12 month high of $50.37.

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 (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.06. The company had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. As a group, equities research analysts forecast that TC Energy Co. will post 2.92 EPS for the current fiscal year.

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.