NBC Securities Inc. Sells 464 Shares of TC Energy Co. (NYSE:TRP)

NBC Securities Inc. reduced its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 12.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,169 shares of the pipeline company’s stock after selling 464 shares during the quarter. NBC Securities Inc.’s holdings in TC Energy were worth $150,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Intech Investment Management LLC acquired a new position in shares of TC Energy in the first quarter valued at $1,159,000. Mirae Asset Global Investments Co. Ltd. grew its stake in TC Energy by 15.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,109,055 shares of the pipeline company’s stock valued at $81,599,000 after buying an additional 278,886 shares during the last quarter. M&G Plc bought a new position in TC Energy in the 1st quarter valued at about $111,587,000. Cetera Investment Advisers lifted its position in TC Energy by 74.1% during the first quarter. Cetera Investment Advisers now owns 98,729 shares of the pipeline company’s stock worth $3,972,000 after acquiring an additional 42,024 shares during the last quarter. Finally, Maryland State Retirement & Pension System boosted its holdings in shares of TC Energy by 1.8% during the first quarter. Maryland State Retirement & Pension System now owns 1,302,358 shares of the pipeline company’s stock worth $52,355,000 after acquiring an additional 22,430 shares during the period. 83.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TRP. Veritas upgraded TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. Barclays upgraded shares of TC Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, July 17th. StockNews.com initiated coverage on shares of TC Energy in a research note on Saturday, October 5th. They issued a “hold” rating for the company. JPMorgan Chase & Co. upgraded shares of TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. Finally, UBS Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $43.50.

TC Energy Price Performance

Shares of NYSE:TRP opened at $48.10 on Friday. The firm has a 50 day moving average of $45.87 and a 200-day moving average of $41.22. TC Energy Co. has a 12 month low of $30.48 and a 12 month high of $48.20. The company has a current ratio of 0.76, a quick ratio of 0.68 and a debt-to-equity ratio of 1.57. The stock has a market capitalization of $48.10 billion, a PE ratio of 24.79, a PEG ratio of 3.84 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.65 by $0.29. The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.78 billion. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. During the same period in the previous year, the business earned $0.71 earnings per share. On average, equities research analysts predict that TC Energy Co. will post 3.05 EPS for the current fiscal year.

TC Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be paid a $0.702 dividend. This represents a $2.81 annualized dividend and a yield of 5.84%. The ex-dividend date of this dividend is Friday, September 27th. TC Energy’s dividend payout ratio (DPR) is presently 146.39%.

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.