Ameriprise Financial Inc. Sells 7,414 Shares of TC Energy Co. (NYSE:TRP)

Ameriprise Financial Inc. lessened its stake in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 13.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 46,149 shares of the pipeline company's stock after selling 7,414 shares during the quarter. Ameriprise Financial Inc.'s holdings in TC Energy were worth $2,260,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in TRP. Norges Bank acquired a new position in shares of TC Energy during the 4th quarter worth $428,759,000. Mufg Securities Canada LTD. lifted its holdings in shares of TC Energy by 571.7% during the 4th quarter. Mufg Securities Canada LTD. now owns 6,184,832 shares of the pipeline company's stock worth $288,043,000 after acquiring an additional 5,264,079 shares during the period. FIL Ltd lifted its holdings in shares of TC Energy by 10.3% during the 4th quarter. FIL Ltd now owns 28,443,403 shares of the pipeline company's stock worth $1,325,558,000 after acquiring an additional 2,644,627 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in TC Energy during the 4th quarter valued at about $102,405,000. Finally, Kayne Anderson Capital Advisors LP lifted its holdings in TC Energy by 51.4% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 4,842,255 shares of the pipeline company's stock valued at $225,310,000 after purchasing an additional 1,644,115 shares during the last quarter. Institutional investors and hedge funds own 83.13% of the company's stock.

TC Energy Trading Up 1.5%

Shares of NYSE:TRP traded up $0.75 during trading on Friday, hitting $50.60. 3,120,790 shares of the company's stock were exchanged, compared to its average volume of 2,486,484. TC Energy Co. has a 1-year low of $37.07 and a 1-year high of $51.34. The firm has a 50-day moving average price of $48.83 and a two-hundred day moving average price of $47.62. 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 market cap of $52.61 billion, a P/E ratio of 15.62, a PEG ratio of 4.34 and a beta of 0.78.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its quarterly earnings results on Thursday, May 1st. The pipeline company reported $0.66 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $2.57 billion. During the same quarter in the prior year, the firm earned $1.02 EPS. Equities analysts predict that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Cuts Dividend

The firm also recently declared 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. This represents a $2.46 annualized dividend and a dividend yield of 4.86%. The ex-dividend date of this dividend is Monday, June 30th. TC Energy's dividend payout ratio is 77.89%.

Analyst Ratings Changes

Several equities analysts recently issued reports on TRP shares. 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. US Capital Advisors upgraded shares of TC Energy from a "hold" rating to a "moderate buy" rating in a research report on Monday, February 3rd. Wall Street Zen cut shares of TC Energy from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Citigroup began coverage on shares of TC Energy in a research report on Friday, April 4th. They issued a "neutral" rating for the company. Finally, Veritas upgraded shares of TC Energy from a "strong sell" rating to a "strong-buy" rating in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average 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.