TC Energy Corporation $TRP Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. reduced its position in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 24.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 762,754 shares of the pipeline company’s stock after selling 248,015 shares during the quarter. Vontobel Holding Ltd.’s holdings in TC Energy were worth $50,461,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Groupe la Francaise raised its holdings in TC Energy by 2.1% in the 1st quarter. Groupe la Francaise now owns 7,352 shares of the pipeline company’s stock worth $459,000 after purchasing an additional 154 shares during the period. Wealthstar Advisors LLC grew its holdings in TC Energy by 1.5% in the first quarter. Wealthstar Advisors LLC now owns 11,465 shares of the pipeline company’s stock valued at $718,000 after purchasing an additional 165 shares during the period. Gold Investment Management Ltd. grew its holdings in TC Energy by 2.0% in the fourth quarter. Gold Investment Management Ltd. now owns 9,964 shares of the pipeline company’s stock valued at $549,000 after purchasing an additional 200 shares during the period. Nations Financial Group Inc. IA ADV increased its position in shares of TC Energy by 5.7% in the first quarter. Nations Financial Group Inc. IA ADV now owns 3,911 shares of the pipeline company’s stock valued at $245,000 after buying an additional 210 shares in the last quarter. Finally, Arax Advisory Partners increased its position in shares of TC Energy by 7.9% in the fourth quarter. Arax Advisory Partners now owns 3,029 shares of the pipeline company’s stock valued at $167,000 after buying an additional 221 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Price Performance

Shares of TC Energy stock opened at $64.00 on Friday. The stock has a market capitalization of $66.68 billion, a P/E ratio of 26.56 and a beta of 0.66. The business has a 50 day simple moving average of $67.53 and a two-hundred day simple moving average of $65.06. TC Energy Corporation has a 12 month low of $49.27 and a 12 month high of $71.47. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.61 and a quick ratio of 0.54.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Thursday, July 30th. The pipeline company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.07. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.76 billion. TC Energy had a return on equity of 11.10% and a net margin of 22.91%.During the same period in the previous year, the company posted $0.82 earnings per share. As a group, analysts predict that TC Energy Corporation will post 2.75 EPS for the current fiscal year.

TC Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Tuesday, September 29th will be issued a $0.8775 dividend. The ex-dividend date is Tuesday, September 29th. This represents a $3.51 dividend on an annualized basis and a yield of 5.5%. TC Energy’s dividend payout ratio (DPR) is presently 103.73%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. TD Securities reiterated a “hold” rating on shares of TC Energy in a research report on Thursday, July 16th. National Bank Financial raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, May 4th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of TC Energy in a research report on Tuesday, May 26th. Scotiabank reiterated an “outperform” rating on shares of TC Energy in a research report on Tuesday, July 21st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of TC Energy in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.00.

TC Energy Company Profile

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.