TC Energy Co. (NYSE:TRP) Shares Sold by NFJ Investment Group LLC

NFJ Investment Group LLC decreased its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 19.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 581,604 shares of the pipeline company’s stock after selling 139,183 shares during the quarter. NFJ Investment Group LLC’s holdings in TC Energy were worth $27,062,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NTV Asset Management LLC raised its holdings in shares of TC Energy by 4.0% in the fourth quarter. NTV Asset Management LLC now owns 6,189 shares of the pipeline company’s stock worth $288,000 after acquiring an additional 239 shares during the last quarter. Lee Financial Co raised its stake in TC Energy by 3.1% in the 4th quarter. Lee Financial Co now owns 8,185 shares of the pipeline company’s stock valued at $381,000 after purchasing an additional 246 shares during the last quarter. IFP Advisors Inc lifted its holdings in TC Energy by 7.0% in the 4th quarter. IFP Advisors Inc now owns 3,809 shares of the pipeline company’s stock valued at $177,000 after purchasing an additional 249 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in TC Energy by 7.2% in the 4th quarter. Global Retirement Partners LLC now owns 4,099 shares of the pipeline company’s stock valued at $191,000 after purchasing an additional 274 shares in the last quarter. Finally, Cohen Investment Advisors LLC grew its holdings in shares of TC Energy by 2.9% during the fourth quarter. Cohen Investment Advisors LLC now owns 9,831 shares of the pipeline company’s stock worth $457,000 after buying an additional 279 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TRP. Citigroup began coverage on TC Energy in a research note on Friday, April 4th. They set a “neutral” rating on the stock. US Capital Advisors raised TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. StockNews.com downgraded shares of TC Energy from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Royal Bank of Canada boosted their target price on shares of TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Finally, Veritas raised shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

TC Energy Stock Performance

Shares of TRP stock opened at $48.52 on Wednesday. The company’s fifty day simple moving average is $46.65 and its 200-day simple moving average is $46.96. 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 52 week low of $34.95 and a 52 week high of $50.37. The company has a market cap of $50.42 billion, a PE ratio of 14.97, a P/E/G ratio of 4.34 and a beta of 0.74.

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

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a $0.85 dividend. This is an increase 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 7.01%. TC Energy’s dividend payout ratio (DPR) is 72.84%.

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.