Lantz Financial LLC Sells 1,007 Shares of TC Energy Co. (NYSE:TRP)

Lantz Financial LLC cut its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 13.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,716 shares of the pipeline company’s stock after selling 1,007 shares during the quarter. Lantz Financial LLC’s holdings in TC Energy were worth $255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. New Hampshire Trust raised its position in shares of TC Energy by 3.8% in the first quarter. New Hampshire Trust now owns 7,263 shares of the pipeline company’s stock worth $292,000 after buying an additional 269 shares in the last quarter. Financial Advocates Investment Management raised its holdings in shares of TC Energy by 5.4% in the 4th quarter. Financial Advocates Investment Management now owns 6,121 shares of the pipeline company’s stock valued at $240,000 after acquiring an additional 316 shares in the last quarter. Windsor Advisory Group LLC boosted its position in shares of TC Energy by 2.5% during the 1st quarter. Windsor Advisory Group LLC now owns 12,831 shares of the pipeline company’s stock valued at $516,000 after acquiring an additional 316 shares during the last quarter. Foundations Investment Advisors LLC grew its holdings in shares of TC Energy by 4.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 8,391 shares of the pipeline company’s stock worth $334,000 after purchasing an additional 326 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its position in shares of TC Energy by 2.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 15,005 shares of the pipeline company’s stock worth $604,000 after purchasing an additional 332 shares during the last quarter. 83.13% of the stock is owned by institutional investors.

TC Energy Stock Performance

NYSE:TRP opened at $45.80 on Wednesday. The company has a market capitalization of $47.52 billion, a price-to-earnings ratio of 23.61, a PEG ratio of 3.81 and a beta of 0.81. The business has a 50 day moving average of $42.75 and a 200 day moving average of $40.01. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.76 and a quick ratio of 0.68. TC Energy Co. has a 1-year low of $32.51 and a 1-year high of $47.38.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.29. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. The company had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.78 billion. During the same quarter in the prior year, the company earned $0.71 EPS. On average, sell-side analysts predict that TC Energy Co. will post 3.06 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be issued a dividend of $0.702 per share. This represents a $2.81 annualized dividend and a yield of 6.13%. The ex-dividend date of this dividend is Friday, September 27th. TC Energy’s dividend payout ratio is presently 144.85%.

Wall Street Analyst Weigh In

Separately, Barclays raised shares of TC Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, July 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $43.50.

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.