Snowden Capital Advisors LLC Sells 925 Shares of TC Energy Co. (NYSE:TRP)

Snowden Capital Advisors LLC trimmed its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 6.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,424 shares of the pipeline company’s stock after selling 925 shares during the period. Snowden Capital Advisors LLC’s holdings in TC Energy were worth $586,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Barclays PLC boosted its position in shares of TC Energy by 19.9% during the third quarter. Barclays PLC now owns 528,528 shares of the pipeline company’s stock worth $25,132,000 after buying an additional 87,885 shares during the period. Assenagon Asset Management S.A. lifted its stake in TC Energy by 3.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 33,445 shares of the pipeline company’s stock valued at $1,558,000 after acquiring an additional 1,133 shares in the last quarter. Park Avenue Securities LLC lifted its stake in TC Energy by 144.5% in the 4th quarter. Park Avenue Securities LLC now owns 18,275 shares of the pipeline company’s stock valued at $851,000 after acquiring an additional 10,802 shares in the last quarter. HB Wealth Management LLC bought a new position in shares of TC Energy during the 4th quarter worth approximately $270,000. Finally, UMB Bank n.a. bought a new position in shares of TC Energy during the 4th quarter worth approximately $47,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on TRP shares. CIBC raised shares of TC Energy from a “neutral” rating to a “sector outperform” rating in a research report on Friday, May 2nd. US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. Citigroup began coverage on shares of TC Energy in a research report on Friday, April 4th. They issued a “neutral” rating for the company. StockNews.com downgraded shares of TC Energy from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Finally, Cibc World Mkts raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $62.00.

TC Energy Stock Performance

Shares of TRP opened at $50.10 on Wednesday. The firm has a 50-day moving average of $48.55 and a 200-day moving average of $47.52. TC Energy Co. has a one year low of $37.07 and a one year high of $51.34. The company has a market cap of $52.09 billion, a PE ratio of 15.46, a price-to-earnings-growth ratio of 4.34 and a beta of 0.78. 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 quarterly earnings data on Thursday, May 1st. The pipeline company reported $0.66 EPS 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 firm had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $2.57 billion. During the same period last year, the business earned $1.02 EPS. As a group, equities 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 disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be given a $0.6142 dividend. This represents a $2.46 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date of this dividend is Monday, June 30th. TC Energy’s dividend payout ratio (DPR) 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.