TC Energy Co. (NYSE:TRP) Stake Cut by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. cut its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,550,025 shares of the pipeline company’s stock after selling 17,698 shares during the period. Envestnet Asset Management Inc.’s holdings in TC Energy were worth $72,137,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Prudential PLC acquired a new position in shares of TC Energy during the fourth quarter valued at $289,000. World Investment Advisors acquired a new position in shares of TC Energy during the fourth quarter valued at $247,000. Cinctive Capital Management LP increased its holdings in shares of TC Energy by 12.3% during the fourth quarter. Cinctive Capital Management LP now owns 194,133 shares of the pipeline company’s stock valued at $9,042,000 after purchasing an additional 21,243 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in shares of TC Energy during the fourth quarter valued at $4,841,000. Finally, Trexquant Investment LP acquired a new position in shares of TC Energy during the fourth quarter valued at $3,156,000. 83.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TRP has been the subject of several research reports. TD Securities started coverage on TC Energy in a research note on Wednesday, January 15th. They set a “buy” rating for the company. Royal Bank of Canada raised their price objective on TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. StockNews.com downgraded TC Energy from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Citigroup started coverage on TC Energy in a research note on Friday, April 4th. They set a “neutral” rating for the company. Finally, US Capital Advisors raised TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, TC Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

TC Energy Trading Up 3.7 %

NYSE TRP opened at $46.12 on Thursday. The stock has a 50-day simple moving average of $46.58 and a 200 day simple moving average of $46.96. The company has a market capitalization of $47.93 billion, a PE ratio of 14.23, a P/E/G ratio of 4.34 and a beta of 0.74. 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 12 month low of $34.95 and a 12 month high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.54. The company had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.42 billion. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. During the same period in the prior year, the firm earned $1.35 earnings per share. Research analysts forecast that TC Energy Co. will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a $0.85 dividend. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.40 annualized dividend and a yield of 7.37%. TC Energy’s dividend payout ratio is currently 72.53%.

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.