Centerstone Investors LLC Trims Stock Holdings in TC Energy Co. (NYSE:TRP)

Centerstone Investors LLC cut its position in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 80.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,655 shares of the pipeline company's stock after selling 265,785 shares during the quarter. TC Energy comprises 4.3% of Centerstone Investors LLC's investment portfolio, making the stock its 8th biggest position. Centerstone Investors LLC's holdings in TC Energy were worth $2,920,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. BROOKFIELD Corp ON raised its position in TC Energy by 31.6% during the fourth quarter. BROOKFIELD Corp ON now owns 1,890,168 shares of the pipeline company's stock valued at $87,950,000 after purchasing an additional 454,011 shares in the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of TC Energy by 7.8% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 224,829 shares of the pipeline company's stock valued at $10,463,000 after purchasing an additional 16,334 shares during the last quarter. AXA S.A. increased its position in shares of TC Energy by 28.4% during the 4th quarter. AXA S.A. now owns 142,095 shares of the pipeline company's stock valued at $6,612,000 after purchasing an additional 31,441 shares during the last quarter. Cinctive Capital Management LP raised its holdings in shares of TC Energy by 12.3% during the 4th quarter. Cinctive Capital Management LP now owns 194,133 shares of the pipeline company's stock valued at $9,042,000 after buying an additional 21,243 shares in the last quarter. Finally, Guardian Partners Inc. bought a new stake in TC Energy in the 4th quarter worth approximately $8,614,000. 83.13% of the stock is owned by institutional investors.

TC Energy Price Performance

NYSE:TRP traded up $0.95 during trading hours on Monday, hitting $50.46. 1,290,935 shares of the stock traded hands, compared to its average volume of 2,510,216. The company has a market cap of $52.46 billion, a price-to-earnings ratio of 15.57, a price-to-earnings-growth ratio of 4.34 and a beta of 0.78. TC Energy Co. has a 1 year low of $37.07 and a 1 year high of $51.34. The stock has a 50 day moving average price of $48.70 and a 200 day moving average price of $47.56. 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 (NYSE:TRP - Get Free Report) TSE: TRP last announced its quarterly earnings data on Thursday, May 1st. The pipeline company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.04). The firm had revenue of $1.78 billion for the quarter, compared to the consensus estimate 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 previous year, the business earned $1.02 earnings per share. Sell-side analysts forecast that TC Energy Co. will post 2.63 EPS for the current fiscal year.

TC Energy Cuts Dividend

The firm also recently disclosed 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 is Monday, June 30th. This represents a $2.46 annualized dividend and a dividend yield of 4.87%. TC Energy's payout ratio is 77.89%.

Wall Street Analyst Weigh In

A number of research analysts have commented on TRP shares. CIBC upgraded shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a research report on Friday, May 2nd. US Capital Advisors upgraded shares of TC Energy from a "hold" rating to a "moderate buy" rating in a report on Monday, February 3rd. Citigroup initiated coverage on TC Energy in a research note on Friday, April 4th. They issued a "neutral" rating on the stock. Wall Street Zen cut TC Energy from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Finally, Royal Bank of Canada increased their price target on shares of TC Energy from $71.00 to $74.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, TC Energy presently has a consensus rating of "Moderate Buy" and a consensus 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.