TC Energy Co. (NYSE:TRP) Shares Sold by Bank of America Corp DE

Bank of America Corp DE trimmed its holdings in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 13.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,905,888 shares of the pipeline company's stock after selling 1,100,346 shares during the quarter. Bank of America Corp DE owned approximately 0.66% of TC Energy worth $321,331,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Barclays PLC lifted its stake in TC Energy by 19.9% in the 3rd quarter. Barclays PLC now owns 528,528 shares of the pipeline company's stock valued at $25,132,000 after buying an additional 87,885 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in TC Energy in the 3rd quarter valued at about $186,000. Versant Capital Management Inc purchased a new position in TC Energy in the 4th quarter valued at about $33,000. Wealth Enhancement Advisory Services LLC lifted its stake in TC Energy by 7.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 18,264 shares of the pipeline company's stock valued at $868,000 after buying an additional 1,231 shares in the last quarter. Finally, JCIC Asset Management Inc. raised its holdings in TC Energy by 29.5% in the 4th quarter. JCIC Asset Management Inc. now owns 3,464 shares of the pipeline company's stock valued at $161,000 after acquiring an additional 789 shares during the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

TC Energy Stock Performance

Shares of NYSE TRP traded up $0.17 during midday trading on Tuesday, reaching $48.29. 269,084 shares of the company were exchanged, compared to its average volume of 2,364,683. The stock has a fifty day simple moving average of $48.16 and a 200 day simple moving average of $47.41. TC Energy Co. has a 1 year low of $33.76 and a 1 year high of $51.34. The stock has a market cap of $50.20 billion, a P/E ratio of 14.90, 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.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its quarterly earnings data 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 return on equity of 12.12% and a net margin of 29.40%. The business had revenue of $1.78 billion for the quarter, compared to analysts' expectations of $2.57 billion. During the same period last year, the business earned $1.02 earnings per share. On average, research analysts forecast 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. Investors of record on Monday, June 30th will be given a dividend of $0.6142 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.46 dividend on an annualized basis and a yield of 5.09%. TC Energy's dividend payout ratio (DPR) is currently 77.89%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TRP. TD Securities began coverage on TC Energy in a report on Wednesday, January 15th. They issued a "buy" rating for the company. StockNews.com downgraded shares of TC Energy from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Veritas upgraded shares of TC Energy from a "strong sell" rating to a "strong-buy" rating in a report on Tuesday, February 18th. CIBC upgraded shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a report on Friday, May 2nd. Finally, US Capital Advisors upgraded shares of TC Energy from a "hold" rating to a "moderate buy" rating in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $62.00.

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.