PNC Financial Services Group Inc. Lowers Stock Position in TC Energy Co. (NYSE:TRP)

PNC Financial Services Group Inc. lessened its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 2.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 107,219 shares of the pipeline company’s stock after selling 2,435 shares during the quarter. PNC Financial Services Group Inc.’s holdings in TC Energy were worth $4,989,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of TRP. SBI Securities Co. Ltd. purchased a new stake in shares of TC Energy during the fourth quarter worth $31,000. Versant Capital Management Inc purchased a new stake in shares of TC Energy during the fourth quarter worth $33,000. Synergy Investment Management LLC purchased a new stake in shares of TC Energy during the fourth quarter worth $36,000. Point72 DIFC Ltd purchased a new stake in shares of TC Energy during the third quarter worth $39,000. Finally, First Command Advisory Services Inc. purchased a new stake in shares of TC Energy during the fourth quarter worth $46,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Veritas raised TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. StockNews.com downgraded shares of TC Energy from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. BMO Capital Markets boosted their target price on shares of TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 20th. Finally, TD Securities initiated coverage on shares of TC Energy in a research note on Wednesday, January 15th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $62.00.

TC Energy Stock Performance

NYSE TRP opened at $46.60 on Thursday. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23. TC Energy Co. has a 1 year low of $34.95 and a 1 year high of $50.37. The company has a market capitalization of $48.43 billion, a PE ratio of 14.38, a P/E/G ratio of 4.34 and a beta of 0.83. The company has a fifty day moving average of $46.27 and a two-hundred day moving average of $46.77.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 earnings per share (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 the consensus estimate of $2.42 billion. During the same quarter in the prior year, the firm posted $1.35 earnings per share. As a group, analysts expect that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The business also recently disclosed 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. This represents a $3.40 annualized dividend and a yield of 7.30%. The ex-dividend date is Monday, March 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s dividend payout ratio is currently 72.53%.

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.