Royal Fund Management LLC Trims Stock Holdings in TC Energy Co. (NYSE:TRP)

Royal Fund Management LLC decreased its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 46.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,665 shares of the pipeline company’s stock after selling 16,283 shares during the quarter. Royal Fund Management LLC’s holdings in TC Energy were worth $869,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fortitude Family Office LLC acquired a new position in shares of TC Energy in the third quarter valued at approximately $28,000. Blue Trust Inc. increased its stake in TC Energy by 72.0% in the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 267 shares during the last quarter. Versant Capital Management Inc purchased a new position in TC Energy during the fourth quarter worth about $33,000. Point72 DIFC Ltd acquired a new stake in TC Energy in the 3rd quarter worth about $39,000. Finally, UMB Bank n.a. purchased a new stake in TC Energy in the 4th quarter valued at about $47,000. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

TC Energy Stock Up 0.3 %

Shares of TC Energy stock opened at $47.52 on Wednesday. TC Energy Co. has a twelve month low of $31.83 and a twelve month high of $50.37. The stock has a market capitalization of $49.38 billion, a price-to-earnings ratio of 13.16, a PEG ratio of 4.47 and a beta of 0.82. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78. The business’s 50 day simple moving average is $47.54 and its 200-day simple moving average is $45.74.

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

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $0.822 dividend. This is a boost from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, December 31st. This represents a $3.29 annualized dividend and a yield of 6.92%. TC Energy’s dividend payout ratio is 63.43%.

Wall Street Analyst Weigh In

TRP has been the topic of several research analyst reports. JPMorgan Chase & Co. raised shares of TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. TD Securities started coverage on shares of TC Energy in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. UBS Group upgraded TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. The Goldman Sachs Group increased their target price on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research report on Monday, October 21st. Finally, StockNews.com started coverage on TC Energy in a research report on Wednesday, December 4th. They issued a “hold” rating on the stock. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $55.67.

About TC Energy

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.