TC Energy Co. (NYSE:TRP) Stock Position Lowered by Centerstone Investors LLC

Centerstone Investors LLC reduced its position in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 10.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 295,632 shares of the pipeline company's stock after selling 32,808 shares during the period. TC Energy comprises 12.5% of Centerstone Investors LLC's holdings, making the stock its 2nd largest position. Centerstone Investors LLC's holdings in TC Energy were worth $13,778,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of TRP. NTV Asset Management LLC lifted its position in TC Energy by 4.0% during the fourth quarter. NTV Asset Management LLC now owns 6,189 shares of the pipeline company's stock worth $288,000 after acquiring an additional 239 shares during the last quarter. Lee Financial Co lifted its position in TC Energy by 3.1% during the fourth quarter. Lee Financial Co now owns 8,185 shares of the pipeline company's stock worth $381,000 after acquiring an additional 246 shares during the last quarter. IFP Advisors Inc lifted its position in TC Energy by 7.0% during the fourth quarter. IFP Advisors Inc now owns 3,809 shares of the pipeline company's stock worth $177,000 after acquiring an additional 249 shares during the last quarter. Benjamin Edwards Inc. lifted its position in TC Energy by 1.7% during the fourth quarter. Benjamin Edwards Inc. now owns 16,003 shares of the pipeline company's stock worth $745,000 after acquiring an additional 273 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its position in TC Energy by 7.2% during the fourth quarter. Global Retirement Partners LLC now owns 4,099 shares of the pipeline company's stock worth $191,000 after acquiring an additional 274 shares during the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Trading Down 0.8%

TRP stock traded down $0.41 during midday trading on Tuesday, hitting $50.04. The stock had a trading volume of 1,462,221 shares, compared to its average volume of 2,506,024. The firm has a market cap of $52.02 billion, a P/E ratio of 15.44, a price-to-earnings-growth 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 Co. has a 1-year low of $37.07 and a 1-year high of $51.34. The business has a fifty day moving average price of $48.74 and a two-hundred day moving average price of $47.57.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced 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). The company had revenue of $1.78 billion for the quarter, compared to analyst estimates of $2.57 billion. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. During the same quarter in the prior year, the company posted $1.02 EPS. On average, sell-side analysts predict that TC Energy Co. will post 2.63 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The firm also recently announced 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 4.91%. The ex-dividend date is Monday, June 30th. TC Energy's payout ratio is presently 77.89%.

Analyst Ratings Changes

Several brokerages have recently commented on TRP. Royal Bank of Canada raised their target price on shares of TC Energy from $71.00 to $74.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. Citigroup initiated coverage on TC Energy in a research note on Friday, April 4th. They issued a "neutral" rating for the company. CIBC upgraded TC Energy from a "neutral" rating to a "sector outperform" rating in a report on Friday, May 2nd. Cibc World Mkts upgraded shares of TC Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, May 2nd. Finally, Wall Street Zen lowered shares of TC Energy from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price 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.