HighTower Advisors LLC Sells 9,483 Shares of TC Energy Co. (NYSE:TRP)

HighTower Advisors LLC decreased its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 2.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 401,220 shares of the pipeline company’s stock after selling 9,483 shares during the period. HighTower Advisors LLC’s holdings in TC Energy were worth $18,669,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of TRP. SBI Securities Co. Ltd. bought a new position in shares of TC Energy in the 4th quarter valued at $31,000. Versant Capital Management Inc bought a new position in shares of TC Energy in the 4th quarter valued at $33,000. Synergy Investment Management LLC bought a new position in shares of TC Energy in the 4th quarter valued at $36,000. Point72 DIFC Ltd bought a new position in shares of TC Energy in the 3rd quarter valued at $39,000. Finally, First Command Advisory Services Inc. bought a new position in shares of TC Energy in the 4th quarter valued at $46,000. Institutional investors own 83.13% of the company’s stock.

TC Energy Trading Up 1.3 %

NYSE TRP opened at $47.20 on Friday. The business’s 50-day moving average price is $46.25 and its two-hundred day moving average price is $46.79. TC Energy Co. has a 12 month low of $34.95 and a 12 month high of $50.37. The firm has a market capitalization of $49.04 billion, a PE ratio of 14.57, a price-to-earnings-growth ratio of 4.34 and a beta of 0.83. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 EPS for the quarter, beating 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 firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.42 billion. During the same quarter in the previous year, the company posted $1.35 EPS. On average, analysts expect that TC Energy Co. will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.85 per share. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. The ex-dividend date is Monday, March 31st. This represents a $3.40 annualized dividend and a dividend yield of 7.20%. TC Energy’s dividend payout ratio is presently 72.53%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada boosted their price objective on TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. BMO Capital Markets boosted their price objective on TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 20th. TD Securities assumed coverage on TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Veritas upgraded TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. Finally, StockNews.com lowered TC Energy from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, TC Energy currently has an average rating of “Moderate Buy” and an average target price of $62.00.

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.