Infrastructure Capital Advisors LLC Lowers Holdings in TC Energy Co. (NYSE:TRP)

Infrastructure Capital Advisors LLC decreased its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 88.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,943 shares of the pipeline company’s stock after selling 58,404 shares during the period. Infrastructure Capital Advisors LLC’s holdings in TC Energy were worth $393,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of TRP. Achmea Investment Management B.V. increased its position in shares of TC Energy by 1.4% during the second quarter. Achmea Investment Management B.V. now owns 14,946 shares of the pipeline company’s stock worth $740,000 after purchasing an additional 210 shares in the last quarter. Verdence Capital Advisors LLC increased its position in shares of TC Energy by 2.1% in the 2nd quarter. Verdence Capital Advisors LLC now owns 11,139 shares of the pipeline company’s stock valued at $552,000 after acquiring an additional 234 shares during the period. Prudential Financial Inc. increased its position in shares of TC Energy by 3.3% in the 1st quarter. Prudential Financial Inc. now owns 7,531 shares of the pipeline company’s stock valued at $345,000 after acquiring an additional 239 shares during the period. Texas Yale Capital Corp. increased its position in shares of TC Energy by 0.3% in the 2nd quarter. Texas Yale Capital Corp. now owns 87,504 shares of the pipeline company’s stock valued at $4,333,000 after acquiring an additional 245 shares during the period. Finally, Rockefeller Capital Management L.P. increased its position in shares of TC Energy by 54.4% in the 1st quarter. Rockefeller Capital Management L.P. now owns 715 shares of the pipeline company’s stock valued at $32,000 after acquiring an additional 252 shares during the period. Institutional investors own 69.40% of the company’s stock.

Several equities research analysts have weighed in on TRP shares. Morgan Stanley downgraded TC Energy from an “overweight” rating to an “equal weight” rating and set a $76.00 price target on the stock. in a research report on Tuesday, July 20th. CIBC increased their price target on TC Energy from C$70.00 to C$74.00 and gave the stock an “outperform” rating in a research report on Friday, June 18th. JPMorgan Chase & Co. reaffirmed a “hold” rating and set a C$68.00 price target on shares of TC Energy in a research report on Monday, August 23rd. Finally, The Goldman Sachs Group downgraded TC Energy from a “buy” rating to a “neutral” rating and cut their price target for the stock from $75.00 to $63.00 in a research report on Monday, September 13th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $69.25.

TC Energy stock traded up $0.96 during midday trading on Thursday, reaching $52.55. The company had a trading volume of 56,838 shares, compared to its average volume of 1,878,644. The company has a market capitalization of $51.46 billion, a P/E ratio of 32.72, a P/E/G ratio of 2.37 and a beta of 0.79. TC Energy Co. has a 12-month low of $38.80 and a 12-month high of $53.65. The firm’s fifty day simple moving average is $48.42 and its 200-day simple moving average is $49.21. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.61 and a quick ratio of 0.55.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Thursday, July 29th. The pipeline company reported $0.87 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.11. The firm had revenue of $2.59 billion for the quarter. TC Energy had a net margin of 16.25% and a return on equity of 14.84%. On average, analysts expect that TC Energy Co. will post 3.38 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 29th. Investors of record on Thursday, September 30th will be paid a $0.6917 dividend. This represents a $2.77 dividend on an annualized basis and a yield of 5.27%. The ex-dividend date of this dividend is Wednesday, September 29th. TC Energy’s dividend payout ratio is presently 86.94%.

TC Energy Company Profile

TC Energy Corporation engages in the provision of energy infrastructure services. It operates through the following business segments: Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, Power and Storage, and Corporate. The Canadian Natural Gas Pipelines segment consists of regulated natural gas pipelines.

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Institutional Ownership by Quarter for TC Energy (NYSE:TRP)

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