Centerstone Investors LLC Has $13.78 Million Holdings in TC Energy Co. (NYSE:TRP)

Centerstone Investors LLC trimmed its position in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 10.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 295,632 shares of the pipeline company's stock after selling 32,808 shares during the period. TC Energy accounts for approximately 12.5% of Centerstone Investors LLC's investment portfolio, making the stock its 2nd biggest position. Centerstone Investors LLC's holdings in TC Energy were worth $13,778,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of TC Energy in the fourth quarter valued at $428,759,000. Mufg Securities Canada LTD. increased its holdings in shares of TC Energy by 571.7% in the fourth quarter. Mufg Securities Canada LTD. now owns 6,184,832 shares of the pipeline company's stock valued at $288,043,000 after purchasing an additional 5,264,079 shares during the last quarter. Blackstone Inc. increased its holdings in shares of TC Energy by 83.8% in the fourth quarter. Blackstone Inc. now owns 7,637,469 shares of the pipeline company's stock valued at $355,371,000 after purchasing an additional 3,482,874 shares during the last quarter. FIL Ltd increased its holdings in shares of TC Energy by 10.3% in the fourth quarter. FIL Ltd now owns 28,443,403 shares of the pipeline company's stock valued at $1,325,558,000 after purchasing an additional 2,644,627 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of TC Energy in the fourth quarter valued at about $102,405,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on TRP shares. Royal Bank of Canada boosted their target price on shares of TC Energy from $71.00 to $74.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. 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. Veritas raised shares of TC Energy from a "strong sell" rating to a "strong-buy" rating in a research report on Tuesday, February 18th. Citigroup started coverage on shares of TC Energy in a research report on Friday, April 4th. They issued a "neutral" rating for the company. Finally, CIBC raised shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a research report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $62.00.

TC Energy Price Performance

TRP traded down $0.04 on Thursday, hitting $49.85. 513,585 shares of the stock were exchanged, compared to its average volume of 2,497,360. TC Energy Co. has a 12 month low of $37.07 and a 12 month high of $51.34. The business has a 50-day moving average of $48.79 and a two-hundred day moving average of $47.60. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23. The firm has a market capitalization of $51.83 billion, a price-to-earnings ratio of 15.40, a PEG ratio of 4.34 and a beta of 0.78.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its quarterly earnings data on Thursday, May 1st. The pipeline company reported $0.66 earnings per share 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 firm had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same period in the prior year, the company earned $1.02 EPS. Sell-side analysts forecast that TC Energy Co. will post 2.63 EPS for the current fiscal year.

TC Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a $0.6142 dividend. The ex-dividend date is Monday, June 30th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 4.93%. TC Energy's dividend payout ratio (DPR) is currently 77.89%.

About TC Energy

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.