Stifel Financial Corp Cuts Stock Holdings in TC Energy Co. (NYSE:TRP)

Stifel Financial Corp cut its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 1.4% in the third quarter, HoldingsChannel reports. The firm owned 359,024 shares of the pipeline company’s stock after selling 5,227 shares during the quarter. Stifel Financial Corp’s holdings in TC Energy were worth $17,072,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of TRP. Captrust Financial Advisors raised its position in TC Energy by 1.3% in the 3rd quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock valued at $871,000 after purchasing an additional 242 shares in the last quarter. Signaturefd LLC raised its holdings in TC Energy by 1.6% in the second quarter. Signaturefd LLC now owns 16,373 shares of the pipeline company’s stock valued at $621,000 after acquiring an additional 261 shares in the last quarter. Prospera Financial Services Inc lifted its stake in TC Energy by 4.8% in the third quarter. Prospera Financial Services Inc now owns 5,754 shares of the pipeline company’s stock worth $274,000 after acquiring an additional 262 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in TC Energy by 8.1% during the 3rd quarter. First Horizon Advisors Inc. now owns 3,505 shares of the pipeline company’s stock worth $167,000 after acquiring an additional 264 shares in the last quarter. Finally, Blue Trust Inc. increased its position in shares of TC Energy by 72.0% in the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 267 shares during the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group lifted their price objective on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research report on Monday, October 21st. Veritas raised TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. BMO Capital Markets increased their price objective on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. UBS Group upgraded TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. Finally, JPMorgan Chase & Co. upgraded shares of TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $55.67.

TC Energy Stock Down 1.8 %

Shares of NYSE TRP opened at $47.37 on Tuesday. The business has a 50-day moving average price of $47.62 and a 200 day moving average price of $44.02. The stock has a market cap of $49.17 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 4.03 and a beta of 0.82. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78. TC Energy Co. has a 52-week low of $31.83 and a 52-week high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. Equities research analysts forecast that TC Energy Co. will post 3 earnings per share for the current year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.822 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. This represents a $3.29 dividend on an annualized basis and a yield of 6.94%. TC Energy’s payout ratio is currently 67.31%.

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.