Townsquare Capital LLC Sells 4,387 Shares of TC Energy Co. (NYSE:TRP)

Townsquare Capital LLC decreased its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 48.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 4,592 shares of the pipeline company’s stock after selling 4,387 shares during the quarter. Townsquare Capital LLC’s holdings in TC Energy were worth $218,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Fortitude Family Office LLC bought a new stake in TC Energy in the 3rd quarter valued at approximately $28,000. Blue Trust Inc. increased its position in shares of TC Energy by 72.0% during the 3rd 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 last quarter. EdgeRock Capital LLC acquired a new position in shares of TC Energy during the 2nd quarter worth approximately $25,000. Whittier Trust Co. of Nevada Inc. increased its position in shares of TC Energy by 138.8% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 429 shares during the last quarter. Finally, Mather Group LLC. acquired a new position in shares of TC Energy during the 2nd quarter worth approximately $33,000. Institutional investors own 83.13% of the company’s stock.

TC Energy Stock Down 1.4 %

TRP stock opened at $48.25 on Friday. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78. The firm has a market capitalization of $50.08 billion, a PE ratio of 13.37, a PEG ratio of 4.09 and a beta of 0.82. TC Energy Co. has a 1-year low of $31.83 and a 1-year high of $50.37. The business’s 50 day simple moving average is $47.62 and its 200 day simple moving average is $43.92.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. The firm had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.83 billion. As a group, research analysts anticipate that TC Energy Co. will post 3 EPS for the current year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.822 dividend. This represents a $3.29 dividend on an annualized basis and a yield of 6.81%. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Tuesday, December 31st. TC Energy’s dividend payout ratio is currently 78.95%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on TRP shares. JPMorgan Chase & Co. raised TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. BMO Capital Markets boosted their price target on TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 20th. Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. Veritas raised TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. Finally, The Goldman Sachs Group boosted their price target on TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research report on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $55.67.

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.