Baldwin Wealth Partners LLC MA Lowers Stake in TC Energy Co. (NYSE:TRP)

Baldwin Wealth Partners LLC MA decreased its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 19.7% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 17,727 shares of the pipeline company’s stock after selling 4,355 shares during the period. Baldwin Wealth Partners LLC MA’s holdings in TC Energy were worth $825,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of TC Energy by 156.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company’s stock worth $321,778,000 after purchasing an additional 4,126,801 shares during the period. Zurich Insurance Group Ltd FI purchased a new position in TC Energy during the third quarter worth about $73,162,000. Merewether Investment Management LP boosted its stake in TC Energy by 37.9% in the 3rd quarter. Merewether Investment Management LP now owns 4,097,600 shares of the pipeline company’s stock worth $194,776,000 after buying an additional 1,127,000 shares during the last quarter. Duff & Phelps Investment Management Co. grew its holdings in TC Energy by 70.7% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,763,915 shares of the pipeline company’s stock valued at $83,874,000 after buying an additional 730,415 shares during the period. Finally, Kayne Anderson Capital Advisors LP grew its holdings in TC Energy by 29.2% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 3,198,140 shares of the pipeline company’s stock valued at $152,072,000 after buying an additional 722,619 shares during the period. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Price Performance

TRP stock opened at $46.42 on Monday. The stock has a 50-day simple moving average of $47.44 and a 200-day simple moving average of $46.00. The firm has a market cap of $48.23 billion, a P/E ratio of 12.87, a price-to-earnings-growth ratio of 4.45 and a beta of 0.82. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31. TC Energy Co. has a 1 year low of $31.83 and a 1 year high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. The company 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%. On average, equities analysts predict that TC Energy Co. will post 2.95 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.822 per share. This represents a $3.29 dividend on an annualized basis and a dividend yield of 7.08%. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, December 31st. TC Energy’s payout ratio is presently 63.43%.

Wall Street Analysts Forecast Growth

TRP has been the topic of several research analyst reports. The Goldman Sachs Group raised their target price 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. StockNews.com assumed coverage on shares of TC Energy in a research note on Wednesday, December 4th. They set a “hold” rating for the company. Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. Veritas upgraded TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. Finally, TD Securities initiated coverage on TC Energy in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $55.67.

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.