TC Energy Co. (NYSE:TRP) Shares Sold by Procyon Advisors LLC

Procyon Advisors LLC lessened its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 9.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,647 shares of the pipeline company’s stock after selling 1,200 shares during the period. Procyon Advisors LLC’s holdings in TC Energy were worth $542,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Fortitude Family Office LLC acquired a new stake in TC Energy during the 3rd quarter worth $28,000. Blue Trust Inc. raised its holdings in shares of TC Energy by 72.0% in the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after buying an additional 267 shares during the last quarter. Versant Capital Management Inc acquired a new stake in shares of TC Energy during the fourth quarter worth about $33,000. Point72 DIFC Ltd purchased a new position in shares of TC Energy during the third quarter worth about $39,000. Finally, Farther Finance Advisors LLC increased its position in TC Energy by 215.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,209 shares of the pipeline company’s stock valued at $57,000 after acquiring an additional 826 shares during the period. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on TRP shares. UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. StockNews.com started coverage on shares of TC Energy in a research report on Wednesday, December 4th. They issued a “hold” rating on the stock. BMO Capital Markets upped their price objective on shares of TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 20th. The Goldman Sachs Group lifted their target price on shares of TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a report on Monday, October 21st. Finally, JPMorgan Chase & Co. raised shares of TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $55.67.

TC Energy Stock Up 2.7 %

Shares of NYSE TRP opened at $47.39 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78. The firm has a 50-day moving average price of $47.59 and a 200 day moving average price of $45.56. TC Energy Co. has a 52 week low of $31.83 and a 52 week high of $50.37. The stock has a market capitalization of $49.23 billion, a price-to-earnings ratio of 13.13, a price-to-earnings-growth ratio of 4.31 and a beta of 0.82.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.70 by $0.06. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.83 billion. Equities research analysts anticipate that TC Energy Co. will post 2.95 EPS for the current fiscal year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a $0.822 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.29 dividend on an annualized basis and a dividend yield of 6.94%. This is a boost from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s dividend payout ratio (DPR) is currently 63.43%.

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.