Park Place Capital Corp Sells 1,179 Shares of TC Energy Co. (NYSE:TRP)

Park Place Capital Corp reduced its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 12.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,233 shares of the pipeline company’s stock after selling 1,179 shares during the quarter. Park Place Capital Corp’s holdings in TC Energy were worth $383,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in TRP. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of TC Energy by 156.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company’s stock worth $321,778,000 after buying an additional 4,126,801 shares during the last quarter. Merewether Investment Management LP purchased a new position in shares of TC Energy in the 2nd quarter valued at approximately $112,618,000. Marshall Wace LLP lifted its stake in shares of TC Energy by 841.1% in the 2nd quarter. Marshall Wace LLP now owns 2,040,863 shares of the pipeline company’s stock valued at $77,349,000 after purchasing an additional 1,824,008 shares during the period. Zurich Insurance Group Ltd FI purchased a new position in shares of TC Energy in the 3rd quarter valued at approximately $73,162,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of TC Energy in the 2nd quarter valued at approximately $50,257,000. 83.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on TRP shares. Veritas upgraded TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. StockNews.com assumed coverage on TC Energy in a research note on Wednesday, December 4th. They set a “hold” rating for the company. JPMorgan Chase & Co. upgraded TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. Finally, TD Securities started coverage on TC Energy in a report on Wednesday, January 15th. They issued a “buy” rating for the company. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $55.67.

TC Energy Stock Performance

NYSE:TRP opened at $47.35 on Wednesday. The stock has a 50-day simple moving average of $47.52 and a two-hundred day simple moving average of $45.80. TC Energy Co. has a 52-week low of $31.83 and a 52-week high of $50.37. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31. The firm has a market capitalization of $49.20 billion, a PE ratio of 13.14, a P/E/G ratio of 4.47 and a beta of 0.82.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. The firm had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.83 billion. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. Analysts forecast that TC Energy Co. will post 2.95 EPS for the current year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.822 dividend. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, December 31st. This represents a $3.29 dividend on an annualized basis and a dividend yield of 6.94%. TC Energy’s dividend payout ratio is 63.16%.

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.