Mount Yale Investment Advisors LLC Sells 677 Shares of TC Energy Co. (NYSE:TRP)

Mount Yale Investment Advisors LLC decreased its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 3.3% during the third quarter, according to its most recent filing with the SEC. The firm owned 19,918 shares of the pipeline company’s stock after selling 677 shares during the period. Mount Yale Investment Advisors LLC’s holdings in TC Energy were worth $947,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in TRP. EdgeRock Capital LLC purchased a new position in TC Energy during the second quarter valued at $25,000. Whittier Trust Co. of Nevada Inc. boosted its stake in TC Energy by 138.8% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 429 shares in the last quarter. Blue Trust Inc. grew its holdings in TC Energy by 72.0% in 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. Mather Group LLC. bought a new position in shares of TC Energy during the second quarter valued at approximately $33,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of TC Energy in the 2nd quarter worth approximately $51,000. Institutional investors own 83.13% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on TRP shares. UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. raised TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. Morgan Stanley raised shares of TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday. Barclays raised shares of TC Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, July 17th. Finally, StockNews.com began coverage on shares of TC Energy in a report on Saturday, October 5th. They set a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $48.50.

TC Energy Price Performance

Shares of NYSE:TRP opened at $47.26 on Friday. The business has a 50-day simple moving average of $46.14 and a two-hundred day simple moving average of $41.44. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.68 and a current ratio of 0.76. The firm has a market cap of $47.26 billion, a price-to-earnings ratio of 24.36, a price-to-earnings-growth ratio of 3.92 and a beta of 0.81. TC Energy Co. has a fifty-two week low of $30.61 and a fifty-two week high of $48.25.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.29. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. The firm had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.78 billion. During the same period in the previous year, the company earned $0.71 earnings per share. On average, analysts expect that TC Energy Co. will post 3.02 earnings per share for the current year.

TC Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be given a dividend of $0.702 per share. This represents a $2.81 dividend on an annualized basis and a yield of 5.94%. 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.