Westwood Holdings Group Inc. Sells 221,949 Shares of TC Energy Co. (NYSE:TRP)

Westwood Holdings Group Inc. lowered its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 10.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,939,445 shares of the pipeline company’s stock after selling 221,949 shares during the period. Westwood Holdings Group Inc. owned about 0.19% of TC Energy worth $90,242,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. SBI Securities Co. Ltd. bought a new stake in shares of TC Energy in the 4th quarter valued at $31,000. Synergy Investment Management LLC acquired a new position in TC Energy in the 4th quarter worth $36,000. Millstone Evans Group LLC acquired a new position in TC Energy in the 4th quarter worth $41,000. First Command Advisory Services Inc. acquired a new position in TC Energy in the 4th quarter worth $46,000. Finally, Rogco LP boosted its stake in TC Energy by 100.0% in the 4th quarter. Rogco LP now owns 1,000 shares of the pipeline company’s stock worth $47,000 after purchasing an additional 500 shares during the period. Institutional investors own 83.13% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada upped their target price on shares of TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Veritas raised shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. StockNews.com lowered shares of TC Energy from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Citigroup started coverage on shares of TC Energy in a research note on Friday, April 4th. They issued a “neutral” rating for the company. Finally, US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $62.00.

TC Energy Trading Down 0.1%

Shares of NYSE:TRP opened at $49.84 on Monday. TC Energy Co. has a 52-week low of $37.07 and a 52-week high of $51.34. The company has a market capitalization of $51.81 billion, a P/E ratio of 15.38, a price-to-earnings-growth ratio of 4.34 and a beta of 0.78. The company has a 50-day simple moving average of $48.43 and a 200 day simple moving average of $47.48. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Thursday, May 1st. The pipeline company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.04). TC Energy had a net margin of 29.40% and a return on equity of 12.12%. The firm had revenue of $1.78 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same quarter last year, the business posted $1.02 earnings per share. Sell-side analysts forecast that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Cuts Dividend

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

TC Energy Company 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.