Janney Montgomery Scott LLC Sells 53,711 Shares of TC Energy Corporation $TRP

Janney Montgomery Scott LLC decreased its holdings in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 47.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,419 shares of the pipeline company’s stock after selling 53,711 shares during the quarter. Janney Montgomery Scott LLC’s holdings in TC Energy were worth $4,005,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of TRP. Annis Gardner Whiting Capital Advisors LLC acquired a new position in TC Energy in the fourth quarter valued at approximately $25,000. Sterling Capital Management LLC acquired a new stake in TC Energy during the 1st quarter worth $26,000. McIlrath & Eck LLC acquired a new stake in TC Energy during the 4th quarter worth $32,000. SWAN Capital LLC acquired a new stake in TC Energy during the 3rd quarter worth $40,000. Finally, Larson Financial Group LLC raised its position in shares of TC Energy by 65.3% during the 3rd quarter. Larson Financial Group LLC now owns 805 shares of the pipeline company’s stock valued at $44,000 after acquiring an additional 318 shares during the last quarter. 83.13% of the stock is owned by institutional investors.

TC Energy Stock Up 1.4%

Shares of NYSE:TRP opened at $64.00 on Friday. The company has a 50 day moving average price of $67.53 and a two-hundred day moving average price of $65.06. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.54 and a current ratio of 0.61. The company has a market capitalization of $66.68 billion, a PE ratio of 26.56 and a beta of 0.66. TC Energy Corporation has a 52 week low of $49.27 and a 52 week high of $71.47.

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

TC Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Tuesday, September 29th will be paid a dividend of $0.8775 per share. This represents a $3.51 annualized dividend and a yield of 5.5%. The ex-dividend date of this dividend is Tuesday, September 29th. TC Energy’s dividend payout ratio (DPR) is presently 102.49%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TRP. Morgan Stanley downgraded TC Energy from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, June 10th. The Goldman Sachs Group upgraded TC Energy from a “sell” rating to a “neutral” rating and upped their price objective for the company from $53.00 to $62.00 in a report on Monday, April 20th. BMO Capital Markets reissued an “outperform” rating and issued a $99.00 target price on shares of TC Energy in a research note on Friday, July 31st. Barclays reissued an “overweight” rating on shares of TC Energy in a research note on Thursday, July 16th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of TC Energy in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, TC Energy has an average rating of “Moderate Buy” and an average 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.