Cresset Asset Management LLC Sells 3,310 Shares of TC Energy Co. (NYSE:TRP)

Cresset Asset Management LLC reduced its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 36.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,891 shares of the pipeline company’s stock after selling 3,310 shares during the quarter. Cresset Asset Management LLC’s holdings in TC Energy were worth $277,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of TRP. NTV Asset Management LLC lifted its holdings in shares of TC Energy by 4.0% during the 4th quarter. NTV Asset Management LLC now owns 6,189 shares of the pipeline company’s stock worth $288,000 after acquiring an additional 239 shares during the period. Lee Financial Co lifted its stake in TC Energy by 3.1% during the fourth quarter. Lee Financial Co now owns 8,185 shares of the pipeline company’s stock worth $381,000 after purchasing an additional 246 shares during the period. IFP Advisors Inc boosted its holdings in TC Energy by 7.0% during the fourth quarter. IFP Advisors Inc now owns 3,809 shares of the pipeline company’s stock valued at $177,000 after purchasing an additional 249 shares in the last quarter. Benjamin Edwards Inc. boosted its holdings in TC Energy by 1.7% during the fourth quarter. Benjamin Edwards Inc. now owns 16,003 shares of the pipeline company’s stock valued at $745,000 after purchasing an additional 273 shares in the last quarter. Finally, Global Retirement Partners LLC grew its stake in shares of TC Energy by 7.2% in the 4th quarter. Global Retirement Partners LLC now owns 4,099 shares of the pipeline company’s stock valued at $191,000 after purchasing an additional 274 shares during the period. Institutional investors and hedge funds own 83.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on TRP shares. Veritas raised TC Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. Citigroup assumed coverage on shares of TC Energy in a research note on Friday, April 4th. They issued a “neutral” rating on the stock. CIBC raised shares of TC Energy from a “neutral” rating to a “sector outperform” rating in a report on Friday, May 2nd. Royal Bank of Canada lifted their price target on shares of TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Finally, Cibc World Mkts raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

TC Energy Trading Down 0.1%

TRP 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 stock has a market capitalization of $51.81 billion, a PE ratio of 15.38, a PEG ratio of 4.34 and a beta of 0.78. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56. The firm has a 50-day moving average price of $48.43 and a two-hundred day moving average price of $47.48.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Thursday, May 1st. The pipeline company reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.04). TC Energy had a net margin of 29.40% and a return on equity of 12.12%. The company had revenue of $1.78 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same period in the prior year, the business earned $1.02 EPS. As a group, equities analysts anticipate that TC Energy Co. will post 2.63 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

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

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.