TC Energy Co. (NYSE:TRP) Shares Sold by Centerstone Investors LLC

Centerstone Investors LLC reduced its stake in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 80.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 62,655 shares of the pipeline company's stock after selling 265,785 shares during the period. TC Energy makes up approximately 4.3% of Centerstone Investors LLC's holdings, making the stock its 8th largest holding. Centerstone Investors LLC's holdings in TC Energy were worth $2,920,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. SBI Securities Co. Ltd. bought a new stake in TC Energy during the 4th quarter worth approximately $31,000. Synergy Investment Management LLC acquired a new position in shares of TC Energy in the 4th quarter valued at $36,000. Millstone Evans Group LLC acquired a new position in shares of TC Energy in the 4th quarter valued at $41,000. First Command Advisory Services Inc. acquired a new position in shares of TC Energy in the 4th quarter valued at $46,000. Finally, Rogco LP raised its stake in TC Energy by 100.0% during the 4th quarter. Rogco LP now owns 1,000 shares of the pipeline company's stock worth $47,000 after buying an additional 500 shares during the period. 83.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Veritas raised TC Energy from a "strong sell" rating to a "strong-buy" rating in a research note on Tuesday, February 18th. US Capital Advisors upgraded TC Energy from a "hold" rating to a "moderate buy" rating in a report on Monday, February 3rd. Royal Bank of Canada raised their price objective on TC Energy from $71.00 to $74.00 and gave the company an "outperform" rating in a report on Tuesday, February 18th. Citigroup initiated coverage on TC Energy in a report on Friday, April 4th. They issued a "neutral" rating for the company. Finally, Wall Street Zen cut 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 assigned a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $62.00.

TC Energy Stock Performance

TC Energy stock traded down $0.41 during mid-day trading on Tuesday, hitting $50.04. 1,462,199 shares of the company's stock traded hands, compared to its average volume of 2,284,223. The firm has a 50 day simple moving average of $48.74 and a two-hundred day simple moving average of $47.57. TC Energy Co. has a fifty-two week low of $33.76 and a fifty-two week high of $51.34. The stock has a market cap of $52.02 billion, a price-to-earnings ratio of 15.44, a P/E/G ratio of 4.34 and a beta of 0.78. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23.

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 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.04). The business 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 period in the prior year, the business earned $1.02 EPS. On average, research analysts expect that TC Energy Co. will post 2.63 EPS 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 $0.6142 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 4.91%. TC Energy's payout ratio is presently 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.