TC Energy Co. (NYSE:TRP) Position Cut by Claret Asset Management Corp

Claret Asset Management Corp lessened its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 9.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 7,868 shares of the pipeline company’s stock after selling 784 shares during the quarter. Claret Asset Management Corp’s holdings in TC Energy were worth $366,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. NTV Asset Management LLC lifted its holdings in shares of TC Energy by 4.0% during the fourth quarter. NTV Asset Management LLC now owns 6,189 shares of the pipeline company’s stock valued at $288,000 after purchasing an additional 239 shares during the last quarter. Lee Financial Co boosted its holdings in shares of TC Energy by 3.1% during the 4th quarter. Lee Financial Co now owns 8,185 shares of the pipeline company’s stock worth $381,000 after buying an additional 246 shares during the period. IFP Advisors Inc lifted its holdings in shares of TC Energy by 7.0% during the fourth quarter. IFP Advisors Inc now owns 3,809 shares of the pipeline company’s stock worth $177,000 after buying an additional 249 shares during the last quarter. Global Retirement Partners LLC grew its position in TC Energy by 7.2% during the fourth quarter. Global Retirement Partners LLC now owns 4,099 shares of the pipeline company’s stock worth $191,000 after buying an additional 274 shares in the last quarter. Finally, Cohen Investment Advisors LLC raised its stake in shares of TC Energy by 2.9% in the 4th quarter. Cohen Investment Advisors LLC now owns 9,831 shares of the pipeline company’s stock valued at $457,000 after buying an additional 279 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Royal Bank of Canada lifted their target price on shares of TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. Veritas raised TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. Citigroup started coverage on shares of TC Energy in a research report on Friday, April 4th. They set a “neutral” rating for the company. Finally, TD Securities assumed coverage on shares of TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $62.00.

TC Energy Stock Performance

Shares of TRP opened at $49.44 on Friday. The firm has a market cap of $51.39 billion, a PE ratio of 15.26, a PEG ratio of 4.34 and a beta of 0.74. TC Energy Co. has a 1 year low of $35.30 and a 1 year high of $50.37. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23. The stock’s fifty day moving average price is $46.78 and its two-hundred day moving average price is $46.99.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.51 by $0.54. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. The company had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.42 billion. During the same quarter in the previous year, the company earned $1.35 earnings per share. On average, equities research analysts forecast that TC Energy Co. will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.85 per share. The ex-dividend date is Monday, March 31st. This represents a $3.40 annualized dividend and a yield of 6.88%. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s payout ratio is 72.84%.

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.