Raleigh Capital Management Inc. Sells 724 Shares of TC Energy Co. (NYSE:TRP)

Raleigh Capital Management Inc. cut its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 2.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 31,137 shares of the pipeline company’s stock after selling 724 shares during the quarter. Raleigh Capital Management Inc.’s holdings in TC Energy were worth $1,449,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Intech Investment Management LLC lifted its holdings in TC Energy by 14.3% during the 2nd quarter. Intech Investment Management LLC now owns 32,936 shares of the pipeline company’s stock valued at $1,248,000 after purchasing an additional 4,127 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of TC Energy by 4.7% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 15,708 shares of the pipeline company’s stock valued at $596,000 after acquiring an additional 703 shares during the last quarter. AE Wealth Management LLC boosted its holdings in shares of TC Energy by 9.4% in the 2nd quarter. AE Wealth Management LLC now owns 8,550 shares of the pipeline company’s stock worth $324,000 after acquiring an additional 738 shares in the last quarter. Ensign Peak Advisors Inc grew its position in TC Energy by 3.4% during the 2nd quarter. Ensign Peak Advisors Inc now owns 67,607 shares of the pipeline company’s stock worth $2,656,000 after acquiring an additional 2,200 shares during the last quarter. Finally, Evergreen Capital Management LLC increased its holdings in TC Energy by 26.0% during the 2nd quarter. Evergreen Capital Management LLC now owns 45,434 shares of the pipeline company’s stock valued at $1,722,000 after purchasing an additional 9,364 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Price Performance

Shares of TRP opened at $47.19 on Thursday. The stock has a market cap of $49.04 billion, a P/E ratio of 13.07, a price-to-earnings-growth ratio of 4.48 and a beta of 0.82. TC Energy Co. has a 1 year low of $31.83 and a 1 year high of $50.37. The stock’s 50-day moving average price is $47.50 and its two-hundred day moving average price is $45.81. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.70 by $0.06. The firm had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. On average, equities analysts predict that TC Energy Co. will post 2.95 earnings per share for the current year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.822 per share. The ex-dividend date is Tuesday, December 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. This represents a $3.29 annualized dividend and a yield of 6.97%. TC Energy’s payout ratio is currently 63.43%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. The Goldman Sachs Group increased their target price on TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a report on Monday, October 21st. UBS Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. Veritas upgraded shares of TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. raised shares of TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. Finally, TD Securities began coverage on TC Energy in a report on Wednesday, January 15th. They set a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, TC Energy has a consensus rating of “Hold” and a consensus target price of $55.67.

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.