Everett Harris & Co. CA Cuts Stake in TC Energy Co. (NYSE:TRP)

Everett Harris & Co. CA lessened its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 10.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 25,665 shares of the pipeline company’s stock after selling 2,967 shares during the period. Everett Harris & Co. CA’s holdings in TC Energy were worth $1,032,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Canoe Financial LP lifted its position in shares of TC Energy by 781.8% in the fourth quarter. Canoe Financial LP now owns 704,176 shares of the pipeline company’s stock valued at $27,526,000 after acquiring an additional 624,316 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in TC Energy by 29,994.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 309,376 shares of the pipeline company’s stock valued at $12,094,000 after purchasing an additional 308,348 shares in the last quarter. Addenda Capital Inc. boosted its stake in TC Energy by 2.5% during the 4th quarter. Addenda Capital Inc. now owns 1,089,146 shares of the pipeline company’s stock worth $42,575,000 after purchasing an additional 26,711 shares during the last quarter. Morgan Stanley grew its holdings in shares of TC Energy by 42.5% during the third quarter. Morgan Stanley now owns 6,821,231 shares of the pipeline company’s stock worth $234,719,000 after buying an additional 2,034,846 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of TC Energy by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 40,404,299 shares of the pipeline company’s stock valued at $1,579,404,000 after buying an additional 778,359 shares during the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Price Performance

NYSE:TRP opened at $38.18 on Friday. TC Energy Co. has a 52 week low of $32.51 and a 52 week high of $41.03. The stock’s fifty day moving average is $38.26 and its two-hundred day moving average is $38.74. The company has a market capitalization of $38.18 billion, a P/E ratio of 19.68, a P/E/G ratio of 3.17 and a beta of 0.79. The company has a quick ratio of 0.85, a current ratio of 0.94 and a debt-to-equity ratio of 1.64.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Friday, May 3rd. The pipeline company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.09. The firm had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.12 billion. TC Energy had a net margin of 17.23% and a return on equity of 17.94%. Equities analysts expect that TC Energy Co. will post 3.01 EPS for the current year.

TC Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be issued a $0.71 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.84 annualized dividend and a dividend yield of 7.44%. TC Energy’s dividend payout ratio is currently 144.85%.

Wall Street Analysts Forecast Growth

Separately, TheStreet upgraded TC Energy from a “c+” rating to a “b-” rating in a research report on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, TC Energy has a consensus rating of “Hold” and a consensus price target of $48.83.

TC Energy Company 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.