First County Bank CT Sells 374 Shares of TC Energy Co. (NYSE:TRP)

First County Bank CT lessened its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 1.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,817 shares of the pipeline company’s stock after selling 374 shares during the quarter. First County Bank CT’s holdings in TC Energy were worth $1,124,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of TRP. BROOKFIELD Corp ON raised its holdings in shares of TC Energy by 31.6% in the fourth quarter. BROOKFIELD Corp ON now owns 1,890,168 shares of the pipeline company’s stock valued at $87,950,000 after purchasing an additional 454,011 shares during the last quarter. O Shaughnessy Asset Management LLC increased its stake in TC Energy by 7.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 224,829 shares of the pipeline company’s stock valued at $10,463,000 after buying an additional 16,334 shares during the last quarter. AXA S.A. lifted its position in TC Energy by 28.4% during the 4th quarter. AXA S.A. now owns 142,095 shares of the pipeline company’s stock worth $6,612,000 after buying an additional 31,441 shares in the last quarter. Cinctive Capital Management LP lifted its position in TC Energy by 12.3% during the 4th quarter. Cinctive Capital Management LP now owns 194,133 shares of the pipeline company’s stock worth $9,042,000 after buying an additional 21,243 shares in the last quarter. Finally, Guardian Partners Inc. acquired a new position in shares of TC Energy during the 4th quarter worth about $8,614,000. Institutional investors own 83.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on TRP shares. US Capital Advisors raised TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. Veritas upgraded TC Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. Wall Street Zen downgraded TC Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. CIBC upgraded shares of TC Energy from a “neutral” rating to a “sector outperform” rating in a report on Friday, May 2nd. Finally, Citigroup initiated coverage on shares of TC Energy in a research report on Friday, April 4th. They set a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, TC Energy presently has a consensus rating of “Moderate Buy” and an average target price of $62.00.

TC Energy Trading Down 0.1%

Shares of TC Energy stock opened at $49.84 on Friday. TC Energy Co. has a 1 year low of $37.07 and a 1 year high of $51.34. The company has a market capitalization of $51.81 billion, a price-to-earnings ratio of 15.38, a P/E/G ratio of 4.34 and a beta of 0.78. The business has a fifty day simple moving average of $48.80 and a two-hundred day simple moving average of $47.61. 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 (NYSE:TRP) (TSE:TRP) last announced its earnings results on Thursday, May 1st. The pipeline company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.04). The company had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $2.57 billion. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. During the same period in the previous year, the firm posted $1.02 EPS. Research analysts forecast that TC Energy Co. will post 2.63 EPS for the current year.

TC Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a dividend of $0.6142 per share. This represents a $2.46 dividend on an annualized basis and a dividend yield of 4.93%. The ex-dividend date is Monday, June 30th. TC Energy’s dividend payout ratio is presently 77.89%.

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.