Swiss National Bank Sells 64,400 Shares of TC Energy Co. (NYSE:TRP)

Swiss National Bank lessened its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 1.9% during the 4th quarter, HoldingsChannel reports. The firm owned 3,345,801 shares of the pipeline company’s stock after selling 64,400 shares during the period. Swiss National Bank’s holdings in TC Energy were worth $130,938,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of TRP. First Trust Direct Indexing L.P. lifted its stake in TC Energy by 24.4% in the fourth quarter. First Trust Direct Indexing L.P. now owns 7,521 shares of the pipeline company’s stock valued at $294,000 after buying an additional 1,473 shares in the last quarter. Duff & Phelps Investment Management Co. boosted its stake in TC Energy by 0.3% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 886,000 shares of the pipeline company’s stock worth $34,634,000 after purchasing an additional 2,500 shares during the period. Intrust Bank NA increased its holdings in TC Energy by 42.6% during the 4th quarter. Intrust Bank NA now owns 10,097 shares of the pipeline company’s stock worth $395,000 after purchasing an additional 3,014 shares in the last quarter. Stevens Capital Management LP acquired a new stake in shares of TC Energy in the 4th quarter valued at about $240,000. Finally, Parkside Financial Bank & Trust bought a new stake in shares of TC Energy in the fourth quarter valued at about $74,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. TheStreet upgraded TC Energy from a “c+” rating to a “b-” rating in a report on Wednesday, March 20th. The Goldman Sachs Group lifted their price objective on shares of TC Energy from $29.00 to $32.00 and gave the company a “sell” rating in a report on Friday, January 26th. Barclays increased their target price on shares of TC Energy from $53.00 to $55.00 and gave the stock an “equal weight” rating in a report on Monday, January 29th. Stifel Nicolaus initiated coverage on shares of TC Energy in a research report on Thursday, January 18th. They set a “buy” rating on the stock. Finally, Jefferies Financial Group initiated coverage on TC Energy in a report on Tuesday, February 27th. They issued a “hold” rating for the company. 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 company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $48.83.

TC Energy Stock Up 3.3 %

Shares of TRP opened at $37.62 on Friday. TC Energy Co. has a 52 week low of $32.51 and a 52 week high of $42.49. The firm has a market cap of $37.62 billion, a P/E ratio of 18.53, a price-to-earnings-growth ratio of 3.14 and a beta of 0.76. The firm’s 50-day simple moving average is $38.53 and its 200 day simple moving average is $38.07. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.88 and a current ratio of 0.96.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Friday, February 16th. The pipeline company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.20. The business had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.93 billion. TC Energy had a return on equity of 18.60% and a net margin of 18.25%. On average, analysts forecast that TC Energy Co. will post 2.9 earnings per share for the current year.

TC Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 7.55%. The ex-dividend date of this dividend is Friday, June 28th. TC Energy’s dividend payout ratio (DPR) is 139.41%.

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.