Swiss National Bank Sells 420,500 Shares of TC Energy Co. (NYSE:TRP)

Swiss National Bank cut its position in TC Energy Co. (NYSE:TRPFree Report) (TSE:TRP) by 11.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,410,201 shares of the pipeline company’s stock after selling 420,500 shares during the quarter. Swiss National Bank owned about 0.33% of TC Energy worth $118,269,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. ICA Group Wealth Management LLC boosted its stake in shares of TC Energy by 23.8% in the first quarter. ICA Group Wealth Management LLC now owns 1,450 shares of the pipeline company’s stock valued at $56,000 after buying an additional 279 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of TC Energy by 14.2% in the third quarter. EverSource Wealth Advisors LLC now owns 2,315 shares of the pipeline company’s stock valued at $80,000 after buying an additional 288 shares during the period. Sourcerock Group LLC boosted its stake in shares of TC Energy by 1.0% in the second quarter. Sourcerock Group LLC now owns 31,537 shares of the pipeline company’s stock valued at $1,274,000 after buying an additional 300 shares during the period. Boothbay Fund Management LLC boosted its stake in shares of TC Energy by 1.0% in the second quarter. Boothbay Fund Management LLC now owns 31,537 shares of the pipeline company’s stock valued at $1,274,000 after buying an additional 300 shares during the period. Finally, Atria Investments Inc boosted its stake in shares of TC Energy by 0.7% in the third quarter. Atria Investments Inc now owns 46,620 shares of the pipeline company’s stock valued at $1,604,000 after buying an additional 317 shares during the period. 73.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TRP. The Goldman Sachs Group upped their price target on shares of TC Energy from $29.00 to $32.00 and gave the stock a “sell” rating in a report on Friday, January 26th. Barclays raised their target price on TC Energy from $53.00 to $55.00 and gave the company an “equal weight” rating in a report on Monday, January 29th. TheStreet cut TC Energy from a “c” rating to a “d+” rating in a report on Wednesday, November 8th. Wolfe Research raised TC Energy from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, October 17th. Finally, Stifel Nicolaus began coverage on TC Energy in a research note on Thursday, January 18th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, TC Energy presently has a consensus rating of “Hold” and an average target price of $48.83.

Get Our Latest Analysis on TC Energy

TC Energy Stock Down 1.9 %

Shares of NYSE TRP opened at $39.07 on Monday. The company has a 50 day simple moving average of $38.99 and a 200 day simple moving average of $36.91. The firm has a market cap of $39.07 billion, a PE ratio of -651.17, a price-to-earnings-growth ratio of 3.24 and a beta of 0.76. TC Energy Co. has a 1 year low of $32.51 and a 1 year high of $42.80. The company has a debt-to-equity ratio of 43.25, a current ratio of 0.86 and a quick ratio of 0.75.

TC Energy (NYSE:TRPGet Free Report) (TSE:TRP) last issued its quarterly earnings data on Wednesday, November 8th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.04. TC Energy had a return on equity of 18.19% and a net margin of 0.10%. The company had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $2.76 billion. On average, research analysts forecast that TC Energy Co. will post 3.14 EPS for the current year.

TC Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th were paid a dividend of $0.67 per share. The ex-dividend date was Thursday, December 28th. This represents a $2.68 dividend on an annualized basis and a yield of 6.86%. TC Energy’s dividend payout ratio (DPR) is presently -4,683.33%.

TC Energy Profile

(Free Report)

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 93,700 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.

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

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