TC Energy Co. (NYSE:TRP) Shares Sold by Baxter Bros Inc.

Baxter Bros Inc. lessened its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 7.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 77,930 shares of the pipeline company’s stock after selling 6,000 shares during the quarter. Baxter Bros Inc.’s holdings in TC Energy were worth $3,046,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Bruce G. Allen Investments LLC bought a new stake in shares of TC Energy in the fourth quarter worth $26,000. Peoples Bank KS acquired a new stake in shares of TC Energy in the 3rd quarter valued at about $45,000. AdvisorNet Financial Inc lifted its position in shares of TC Energy by 25.8% during the fourth quarter. AdvisorNet Financial Inc now owns 1,483 shares of the pipeline company’s stock worth $58,000 after purchasing an additional 304 shares during the last quarter. Whittier Trust Co. lifted its position in shares of TC Energy by 1,500.0% during the fourth quarter. Whittier Trust Co. now owns 1,840 shares of the pipeline company’s stock worth $72,000 after purchasing an additional 1,725 shares during the last quarter. Finally, Parkside Financial Bank & Trust acquired a new position in TC Energy in the fourth quarter worth about $74,000. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Stifel Nicolaus assumed coverage on TC Energy in a research note on Thursday, January 18th. They set a “buy” rating on the stock. Jefferies Financial Group assumed coverage on shares of TC Energy in a report on Tuesday, February 27th. They issued a “hold” rating on the stock. TheStreet upgraded TC Energy from a “c+” rating to a “b-” rating in a research report on Wednesday, March 20th. Barclays increased their target price on TC Energy from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Monday, January 29th. Finally, 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 research report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, TC Energy currently has a consensus rating of “Hold” and an average target price of $48.83.

TC Energy Price Performance

TC Energy stock traded up $1.21 during trading hours on Friday, hitting $37.62. 3,893,017 shares of the company traded hands, compared to its average volume of 4,264,774. TC Energy Co. has a 1-year low of $32.51 and a 1-year high of $42.49. The firm has a market cap of $37.62 billion, a P/E ratio of 19.39, a P/E/G ratio of 3.24 and a beta of 0.76. The firm’s 50-day simple moving average is $38.49 and its two-hundred day simple moving average is $38.09. The company has a quick ratio of 0.88, a current ratio of 0.96 and a debt-to-equity ratio of 1.65.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Friday, February 16th. The pipeline company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.79 by $0.20. The firm 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, analysts forecast that TC Energy Co. will post 2.9 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 7.55%. The ex-dividend date is Friday, June 28th. TC Energy’s payout ratio is currently 145.88%.

About TC Energy

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.