Tidal Investments LLC Reduces Holdings in TC Energy Co. (NYSE:TRP)

Tidal Investments LLC reduced its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 16.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,781 shares of the pipeline company’s stock after selling 2,170 shares during the quarter. Tidal Investments LLC’s holdings in TC Energy were worth $513,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Captrust Financial Advisors lifted its stake in shares of TC Energy by 1.3% during the third quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock worth $871,000 after buying an additional 242 shares during the period. Signaturefd LLC grew its stake in TC Energy by 1.6% during the 2nd quarter. Signaturefd LLC now owns 16,373 shares of the pipeline company’s stock valued at $621,000 after purchasing an additional 261 shares during the last quarter. Prospera Financial Services Inc increased its holdings in shares of TC Energy by 4.8% in the third quarter. Prospera Financial Services Inc now owns 5,754 shares of the pipeline company’s stock valued at $274,000 after purchasing an additional 262 shares during the period. First Horizon Advisors Inc. raised its stake in shares of TC Energy by 8.1% in the third quarter. First Horizon Advisors Inc. now owns 3,505 shares of the pipeline company’s stock worth $167,000 after purchasing an additional 264 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of TC Energy by 72.0% during the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 267 shares during the period. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Stock Up 1.0 %

TRP stock opened at $45.79 on Monday. The stock has a market capitalization of $47.53 billion, a P/E ratio of 12.68, a P/E/G ratio of 3.88 and a beta of 0.82. TC Energy Co. has a 52 week low of $31.83 and a 52 week high of $50.37. The firm has a 50-day simple moving average of $47.79 and a 200-day simple moving average of $44.48. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.06. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.83 billion. Equities analysts forecast that TC Energy Co. will post 3 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.822 per share. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, December 31st. This represents a $3.29 dividend on an annualized basis and a dividend yield of 7.18%. TC Energy’s dividend payout ratio is presently 67.31%.

Wall Street Analyst Weigh In

Several analysts have recently commented on TRP shares. JPMorgan Chase & Co. raised shares of TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. BMO Capital Markets boosted their target price on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. UBS Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. Finally, Veritas raised shares of TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. 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 company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $55.67.

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.