Beverly Hills Private Wealth LLC Lowers Position in TC Energy Co. (NYSE:TRP)

Beverly Hills Private Wealth LLC decreased its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 45.2% during the fourth quarter, HoldingsChannel reports. The firm owned 7,807 shares of the pipeline company’s stock after selling 6,427 shares during the period. Beverly Hills Private Wealth LLC’s holdings in TC Energy were worth $306,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Bruce G. Allen Investments LLC purchased a new stake in TC Energy during the fourth quarter valued at about $26,000. Money Concepts Capital Corp raised its position in TC Energy by 149.1% during the fourth quarter. Money Concepts Capital Corp now owns 949 shares of the pipeline company’s stock valued at $38,000 after purchasing an additional 568 shares in the last quarter. Chilton Capital Management LLC purchased a new stake in TC Energy during the first quarter valued at about $41,000. Hexagon Capital Partners LLC raised its position in TC Energy by 158.3% during the third quarter. Hexagon Capital Partners LLC now owns 1,085 shares of the pipeline company’s stock valued at $37,000 after purchasing an additional 665 shares in the last quarter. Finally, ICA Group Wealth Management LLC purchased a new stake in TC Energy during the fourth quarter valued at about $47,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Stock Down 0.3 %

NYSE TRP opened at $36.00 on Tuesday. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.96 and a quick ratio of 0.88. The stock has a market capitalization of $36 billion, a PE ratio of 17.73, a PEG 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 moving average is $39.25 and its 200 day moving average is $37.97.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results 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 company 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%. Sell-side analysts forecast that TC Energy Co. will post 2.99 earnings per share for the current year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be paid a $0.714 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This is a boost from TC Energy’s previous quarterly dividend of $0.67. This represents a $2.86 annualized dividend and a dividend yield of 7.93%. TC Energy’s dividend payout ratio (DPR) is presently 139.41%.

Wall Street Analysts Forecast Growth

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

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.