TC Energy Co. (NYSE:TRP) Shares Sold by Benedict Financial Advisors Inc.

Benedict Financial Advisors Inc. cut its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 1.0% during the third quarter, HoldingsChannel reports. The firm owned 47,266 shares of the pipeline company’s stock after selling 475 shares during the period. Benedict Financial Advisors Inc.’s holdings in TC Energy were worth $2,248,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Signaturefd LLC grew its holdings in shares of TC Energy by 1.6% in the 2nd quarter. Signaturefd LLC now owns 16,373 shares of the pipeline company’s stock worth $621,000 after acquiring an additional 261 shares during the period. Blue Trust Inc. boosted its position in TC Energy by 72.0% during the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 267 shares in the last quarter. Windsor Advisory Group LLC grew its holdings in TC Energy by 2.5% in the first quarter. Windsor Advisory Group LLC now owns 12,831 shares of the pipeline company’s stock valued at $516,000 after purchasing an additional 316 shares during the last quarter. Mount Yale Investment Advisors LLC increased its position in shares of TC Energy by 1.9% in the first quarter. Mount Yale Investment Advisors LLC now owns 19,873 shares of the pipeline company’s stock valued at $799,000 after buying an additional 364 shares in the last quarter. Finally, Gold Investment Management Ltd. raised its stake in shares of TC Energy by 4.6% during the 1st quarter. Gold Investment Management Ltd. now owns 9,230 shares of the pipeline company’s stock worth $371,000 after buying an additional 403 shares during the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TRP has been the topic of a number of research reports. Morgan Stanley raised shares of TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday. StockNews.com assumed coverage on shares of TC Energy in a report on Saturday, October 5th. They issued a “hold” rating on the stock. Barclays raised shares of TC Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, July 17th. UBS Group upgraded TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. Finally, The Goldman Sachs Group increased their target price on TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a report on Monday, October 21st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, TC Energy currently has an average rating of “Hold” and an average target price of $48.50.

TC Energy Trading Up 0.6 %

Shares of NYSE TRP traded up $0.27 during midday trading on Friday, reaching $47.26. 1,364,790 shares of the stock were exchanged, compared to its average volume of 3,184,181. The stock has a 50 day moving average price of $46.20 and a 200-day moving average price of $41.50. The company has a current ratio of 0.76, a quick ratio of 0.68 and a debt-to-equity ratio of 1.57. The company has a market capitalization of $47.26 billion, a P/E ratio of 24.36, a P/E/G ratio of 3.92 and a beta of 0.81. TC Energy Co. has a 52-week low of $30.61 and a 52-week high of $48.25.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.29. The firm had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.78 billion. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. During the same quarter last year, the business earned $0.71 earnings per share. Equities research analysts expect that TC Energy Co. will post 3.02 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be given a $0.702 dividend. This represents a $2.81 dividend on an annualized basis and a dividend yield of 5.94%. The ex-dividend date of this dividend is Friday, September 27th. TC Energy’s dividend payout ratio is currently 146.39%.

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.