Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Lowers Holdings in TC Energy Co. (NYSE:TRP)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lessened its stake in TC Energy Co. (NYSE:TRPFree Report) (TSE:TRP) by 18.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,455 shares of the pipeline company’s stock after selling 550 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in TC Energy were worth $97,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of the business. CWM LLC raised its position in TC Energy by 56.2% in the 4th quarter. CWM LLC now owns 2,725 shares of the pipeline company’s stock worth $107,000 after buying an additional 980 shares during the last quarter. Signaturefd LLC grew its stake in shares of TC Energy by 29.0% during the 4th quarter. Signaturefd LLC now owns 14,765 shares of the pipeline company’s stock valued at $577,000 after purchasing an additional 3,317 shares during the period. Lindbrook Capital LLC grew its stake in shares of TC Energy by 1,354.8% during the 4th quarter. Lindbrook Capital LLC now owns 12,599 shares of the pipeline company’s stock valued at $492,000 after purchasing an additional 11,733 shares during the period. HF Advisory Group LLC grew its stake in shares of TC Energy by 6.9% during the 4th quarter. HF Advisory Group LLC now owns 51,443 shares of the pipeline company’s stock valued at $2,011,000 after purchasing an additional 3,316 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of TC Energy by 8.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 276,295 shares of the pipeline company’s stock valued at $10,846,000 after purchasing an additional 22,091 shares during the period. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Wall Street Analysts Forecast Growth

TRP has been the subject of a number of recent research reports. Stifel Nicolaus initiated coverage on TC Energy in a research note on Thursday, January 18th. They set a “buy” rating for the company. The Goldman Sachs Group boosted their price target on TC Energy from $29.00 to $32.00 and gave the company a “sell” rating in a research note on Friday, January 26th. Barclays boosted their price objective on TC Energy from $53.00 to $55.00 and gave the company an “equal weight” rating in a research note on Monday, January 29th. Jefferies Financial Group began coverage on TC Energy in a research note on Tuesday, February 27th. They set a “hold” rating for the company. Finally, TheStreet upgraded TC Energy from a “c+” rating to a “b-” rating in a research note on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $48.83.

Read Our Latest Stock Analysis on TRP

TC Energy Stock Up 0.3 %

Shares of TRP opened at $36.02 on Wednesday. The stock has a market capitalization of $36.02 billion, a price-to-earnings ratio of 17.74, a price-to-earnings-growth ratio of 3.02 and a beta of 0.75. TC Energy Co. has a 1 year low of $32.51 and a 1 year high of $42.49. The business’s 50 day simple moving average is $38.98 and its 200-day simple moving average is $38.06. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.96 and a quick ratio of 0.88.

TC Energy (NYSE:TRPGet Free Report) (TSE:TRP) last issued its quarterly earnings data on Friday, February 16th. The pipeline company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.20. The business had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $2.93 billion. TC Energy had a return on equity of 18.60% and a net margin of 18.25%. As a group, equities analysts expect that TC Energy Co. will post 2.98 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be issued a dividend of $0.714 per share. This represents a $2.86 annualized dividend and a dividend yield of 7.93%. This is a boost from TC Energy’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Wednesday, March 27th. TC Energy’s dividend payout ratio is 139.41%.

About TC Energy

(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 93,600 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.

Further Reading

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

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