Signature Estate & Investment Advisors LLC Sells 1,004 Shares of TC Energy Co. (NYSE:TRP)

Signature Estate & Investment Advisors LLC decreased its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 11.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,677 shares of the pipeline company’s stock after selling 1,004 shares during the quarter. Signature Estate & Investment Advisors LLC’s holdings in TC Energy were worth $357,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in TRP. Vanguard Group Inc. raised its stake in shares of TC Energy by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 43,687,141 shares of the pipeline company’s stock valued at $2,035,952,000 after acquiring an additional 734,678 shares in the last quarter. TD Asset Management Inc. increased its holdings in TC Energy by 2.1% during the 4th quarter. TD Asset Management Inc. now owns 16,437,150 shares of the pipeline company’s stock worth $765,627,000 after purchasing an additional 344,485 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in TC Energy by 6.0% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,175,940 shares of the pipeline company’s stock valued at $333,993,000 after purchasing an additional 405,965 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of TC Energy by 8.4% in the 4th quarter. CIBC Asset Management Inc now owns 7,123,344 shares of the pipeline company’s stock worth $331,863,000 after buying an additional 551,980 shares during the period. Finally, Kayne Anderson Capital Advisors LP grew its position in shares of TC Energy by 51.4% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 4,842,255 shares of the pipeline company’s stock worth $225,310,000 after buying an additional 1,644,115 shares in the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Trading Down 0.9 %

NYSE TRP opened at $48.43 on Thursday. TC Energy Co. has a 52 week low of $34.95 and a 52 week high of $50.37. The company has a 50 day moving average price of $46.48 and a 200 day moving average price of $46.92. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56. The firm has a market cap of $50.32 billion, a PE ratio of 14.95, a price-to-earnings-growth ratio of 4.34 and a beta of 0.83.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.54. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.42 billion. During the same period in the prior year, the firm posted $1.35 earnings per share. As a group, sell-side analysts forecast that TC Energy Co. will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm 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 $0.85 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from TC Energy’s previous quarterly dividend of $0.82. This represents a $3.40 dividend on an annualized basis and a yield of 7.02%. TC Energy’s dividend payout ratio (DPR) is 72.53%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on TRP shares. StockNews.com downgraded TC Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Royal Bank of Canada boosted their price target on shares of TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. TD Securities initiated coverage on shares of TC Energy in a research note on Wednesday, January 15th. They set a “buy” rating on the stock. US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. Finally, Veritas raised TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

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.