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

Ameriprise Financial Inc. trimmed its holdings in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 13.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 quarter.

Several other hedge funds have also recently bought and sold shares of TRP. SBI Securities Co. Ltd. acquired a new position in TC Energy during the fourth quarter worth $31,000. Synergy Investment Management LLC acquired a new position in TC Energy during the fourth quarter worth $36,000. Millstone Evans Group LLC acquired a new position in TC Energy during the fourth quarter worth $41,000. First Command Advisory Services Inc. acquired a new stake in shares of TC Energy in the fourth quarter valued at about $46,000. Finally, Rogco LP grew its position in shares of TC Energy by 100.0% in the fourth quarter. Rogco LP now owns 1,000 shares of the pipeline company's stock valued at $47,000 after purchasing an additional 500 shares during the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

TC Energy Price Performance

TRP traded down $0.12 during midday trading on Tuesday, reaching $51.29. 1,829,080 shares of the company's stock were exchanged, compared to its average volume of 2,480,808. The firm has a market capitalization of $53.32 billion, a price-to-earnings ratio of 15.83, a price-to-earnings-growth ratio of 4.34 and a beta of 0.78. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56. TC Energy Co. has a one year low of $37.07 and a one year high of $51.50. The business has a 50-day simple moving average of $48.95 and a two-hundred day simple moving average of $47.65.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its quarterly earnings results 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 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 the consensus estimate of $2.57 billion. During the same quarter in the prior year, the business earned $1.02 EPS. As a group, research analysts predict that TC Energy Co. will post 2.63 EPS for the current year.

TC Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a $0.6142 dividend. This represents a $2.46 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date of this dividend is Monday, June 30th. TC Energy's dividend payout ratio (DPR) is currently 77.89%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TRP. US Capital Advisors raised TC Energy from a "hold" rating to a "moderate buy" rating in a research report on Monday, February 3rd. CIBC raised TC Energy from a "neutral" rating to a "sector outperform" rating in a research report on Friday, May 2nd. Cibc World Mkts raised TC Energy from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 2nd. Royal Bank of Canada raised their price target on TC Energy from $71.00 to $74.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. Finally, Wall Street Zen downgraded TC Energy from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, TC Energy currently has an average rating of "Moderate Buy" and an average price target of $62.00.

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.