TC Energy Corporation $TRP Holdings Cut by Midwest Trust Co

Midwest Trust Co cut its stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 3.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 245,413 shares of the pipeline company’s stock after selling 8,733 shares during the quarter. Midwest Trust Co’s holdings in TC Energy were worth $15,363,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in TRP. Vanguard Group Inc. lifted its holdings in shares of TC Energy by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 47,801,695 shares of the pipeline company’s stock worth $2,632,200,000 after purchasing an additional 980,221 shares during the last quarter. FIL Ltd boosted its position in TC Energy by 3.9% during the 4th quarter. FIL Ltd now owns 28,305,789 shares of the pipeline company’s stock valued at $1,558,669,000 after purchasing an additional 1,052,166 shares during the period. TD Asset Management Inc grew its stake in TC Energy by 6.3% during the 4th quarter. TD Asset Management Inc now owns 20,868,772 shares of the pipeline company’s stock worth $1,150,656,000 after buying an additional 1,244,525 shares during the last quarter. GQG Partners LLC grew its stake in TC Energy by 586.5% during the 4th quarter. GQG Partners LLC now owns 16,154,469 shares of the pipeline company’s stock worth $890,711,000 after buying an additional 13,801,371 shares during the last quarter. Finally, Deutsche Bank AG increased its position in TC Energy by 63.2% in the fourth quarter. Deutsche Bank AG now owns 15,384,255 shares of the pipeline company’s stock worth $846,288,000 after buying an additional 5,956,263 shares during the period. 83.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TRP. BMO Capital Markets reiterated an “outperform” rating on shares of TC Energy in a research note on Monday, May 4th. Weiss Ratings lowered shares of TC Energy from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Scotiabank reaffirmed an “outperform” rating on shares of TC Energy in a report on Monday, May 4th. Barclays reiterated an “overweight” rating on shares of TC Energy in a research report on Monday, May 4th. Finally, Morgan Stanley lowered shares of TC Energy from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $78.50.

TC Energy Stock Performance

TC Energy stock traded down $0.69 during mid-day trading on Friday, hitting $67.27. 3,079,252 shares of the company’s stock traded hands, compared to its average volume of 2,495,869. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 1.67. TC Energy Corporation has a one year low of $46.61 and a one year high of $71.47. The firm has a 50 day moving average price of $68.04 and a 200 day moving average price of $62.98. The company has a market cap of $70.09 billion, a PE ratio of 29.20 and a beta of 0.66.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Friday, May 1st. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.02. The company had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.20 billion. TC Energy had a return on equity of 10.74% and a net margin of 22.22%.During the same quarter in the prior year, the business posted $0.95 earnings per share. On average, equities analysts forecast that TC Energy Corporation will post 2.72 EPS for the current year.

TC Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be given a $0.8775 dividend. This represents a $3.51 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date is Tuesday, June 30th. TC Energy’s dividend payout ratio is currently 107.39%.

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.