TC Energy Co. (NYSE:TRP) Stake Lessened by First County Bank CT

First County Bank CT decreased its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 2.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 24,191 shares of the pipeline company’s stock after selling 526 shares during the quarter. First County Bank CT’s holdings in TC Energy were worth $1,126,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of TRP. Commonwealth Equity Services LLC increased its holdings in shares of TC Energy by 18.3% in the 2nd quarter. Commonwealth Equity Services LLC now owns 114,853 shares of the pipeline company’s stock valued at $4,353,000 after purchasing an additional 17,798 shares during the period. Natixis Advisors LLC lifted its position in TC Energy by 2.3% in the 2nd quarter. Natixis Advisors LLC now owns 44,561 shares of the pipeline company’s stock worth $1,689,000 after buying an additional 1,017 shares in the last quarter. Private Advisor Group LLC boosted its stake in shares of TC Energy by 4.7% during the 2nd quarter. Private Advisor Group LLC now owns 25,592 shares of the pipeline company’s stock valued at $970,000 after buying an additional 1,142 shares during the period. Acadian Asset Management LLC purchased a new position in shares of TC Energy during the 2nd quarter valued at $1,510,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of TC Energy in the second quarter worth $51,000. 83.13% of the stock is owned by institutional investors and hedge funds.

TC Energy Stock Performance

Shares of TC Energy stock traded up $0.50 on Tuesday, reaching $47.83. The stock had a trading volume of 690,343 shares, compared to its average volume of 1,285,550. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31. The business’s 50-day moving average price is $47.67 and its two-hundred day moving average price is $45.13. The stock has a market cap of $49.69 billion, a P/E ratio of 13.25, a price-to-earnings-growth ratio of 3.88 and a beta of 0.82. TC Energy Co. has a fifty-two week low of $31.83 and a fifty-two week high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. On average, sell-side analysts forecast that TC Energy Co. will post 3 EPS for the current year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $0.822 dividend. This is an increase from TC Energy’s previous quarterly dividend of $0.70. This represents a $3.29 annualized dividend and a yield of 6.87%. The ex-dividend date of this dividend is Tuesday, December 31st. TC Energy’s payout ratio is currently 67.31%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on TRP shares. Veritas upgraded TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. UBS Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. BMO Capital Markets increased their price target on shares of TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 20th. Finally, JPMorgan Chase & Co. upgraded shares of TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target 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.