TC Energy Co. (NYSE:TRP) Shares Sold by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC lowered its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 32.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,943 shares of the pipeline company’s stock after selling 7,611 shares during the quarter. Verdence Capital Advisors LLC’s holdings in TC Energy were worth $623,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in TRP. IFP Advisors Inc boosted its stake in shares of TC Energy by 74.8% in the third quarter. IFP Advisors Inc now owns 3,455 shares of the pipeline company’s stock valued at $119,000 after buying an additional 1,478 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of TC Energy by 747.1% in the 3rd quarter. SG Americas Securities LLC now owns 22,627 shares of the pipeline company’s stock valued at $779,000 after purchasing an additional 19,956 shares in the last quarter. DAVENPORT & Co LLC lifted its stake in shares of TC Energy by 2.5% in the third quarter. DAVENPORT & Co LLC now owns 87,614 shares of the pipeline company’s stock valued at $3,027,000 after purchasing an additional 2,110 shares during the period. Royal Fund Management LLC boosted its holdings in TC Energy by 6.1% during the third quarter. Royal Fund Management LLC now owns 17,554 shares of the pipeline company’s stock worth $604,000 after buying an additional 1,006 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its position in TC Energy by 13.8% during the third quarter. Exchange Traded Concepts LLC now owns 1,001,850 shares of the pipeline company’s stock worth $34,474,000 after buying an additional 121,697 shares during the period. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Stock Performance

Shares of NYSE TRP opened at $35.90 on Tuesday. The company has a 50-day simple moving average of $39.01 and a 200-day simple moving average of $38.04. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.96 and a quick ratio of 0.88. The company has a market cap of $35.90 billion, a PE ratio of 17.68, a price-to-earnings-growth ratio of 3.00 and a beta of 0.75. TC Energy Co. has a 12 month low of $32.51 and a 12 month high of $42.49.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Friday, February 16th. The pipeline company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.20. TC Energy had a return on equity of 18.60% and a net margin of 18.25%. The company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.93 billion. On average, equities analysts anticipate that TC Energy Co. will post 2.98 earnings per share for the current year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be paid a $0.714 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 7.96%. This is a positive change from TC Energy’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Wednesday, March 27th. TC Energy’s dividend payout ratio (DPR) is presently 139.41%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus initiated coverage on shares of TC Energy in a research report on Thursday, January 18th. They set a “buy” rating for the company. The Goldman Sachs Group lifted their price objective on TC Energy from $29.00 to $32.00 and gave the stock a “sell” rating in a report on Friday, January 26th. Barclays upped their target price on TC Energy from $53.00 to $55.00 and gave the company an “equal weight” rating in a report on Monday, January 29th. TheStreet raised TC Energy from a “c+” rating to a “b-” rating in a research note on Wednesday, March 20th. Finally, Jefferies Financial Group began coverage on shares of TC Energy in a report on Tuesday, February 27th. They set a “hold” rating for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $48.83.

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.