Massmutual Trust Co. FSB ADV Reduces Stock Position in TC Energy Co. (NYSE:TRP)

Massmutual Trust Co. FSB ADV cut its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 0.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,762 shares of the pipeline company’s stock after selling 362 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in TC Energy were worth $1,810,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TRP. EdgeRock Capital LLC acquired a new stake in TC Energy in the fourth quarter valued at approximately $25,000. Creekmur Asset Management LLC purchased a new stake in shares of TC Energy during the 4th quarter worth $27,000. Glassman Wealth Services lifted its position in shares of TC Energy by 61.0% during the 4th quarter. Glassman Wealth Services now owns 726 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 275 shares during the period. OLD Point Trust & Financial Services N A acquired a new position in TC Energy during the fourth quarter worth $31,000. Finally, Jones Financial Companies Lllp raised its position in TC Energy by 510.8% during the fourth quarter. Jones Financial Companies Lllp now owns 1,417 shares of the pipeline company’s stock worth $55,000 after acquiring an additional 1,185 shares during the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Barclays upgraded TC Energy from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $44.67.

TC Energy Trading Down 1.2 %

TRP traded down $0.51 during trading on Monday, reaching $42.26. The company had a trading volume of 2,557,173 shares, compared to its average volume of 3,018,062. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.85 and a current ratio of 0.94. TC Energy Co. has a 12-month low of $32.51 and a 12-month high of $43.41. The company has a market cap of $42.26 billion, a price-to-earnings ratio of 22.05, a PEG ratio of 3.52 and a beta of 0.79. The firm’s 50-day simple moving average is $39.35 and its 200 day simple moving average is $38.86.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.29. TC Energy had a return on equity of 19.07% and a net margin of 21.31%. The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same quarter in the prior year, the company earned $0.71 EPS. Equities research analysts anticipate that TC Energy Co. will post 3.04 earnings per share for the current year.

TC Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be issued a dividend of $0.702 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.81 annualized dividend and a yield of 6.64%. TC Energy’s dividend payout ratio (DPR) is presently 144.85%.

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.