Nuveen Asset Management LLC Sells 286,686 Shares of TC Energy Co. (NYSE:TRP)

Nuveen Asset Management LLC lowered its stake in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 20.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,105,274 shares of the pipeline company's stock after selling 286,686 shares during the period. Nuveen Asset Management LLC owned about 0.11% of TC Energy worth $51,483,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of TRP. SBI Securities Co. Ltd. purchased a new position in shares of TC Energy in the 4th quarter valued at approximately $31,000. Synergy Investment Management LLC acquired a new position in shares of TC Energy in the fourth quarter worth $36,000. Millstone Evans Group LLC purchased a new position in shares of TC Energy during the 4th quarter worth $41,000. First Command Advisory Services Inc. purchased a new stake in TC Energy in the 4th quarter valued at about $46,000. Finally, UMB Bank n.a. acquired a new position in shares of TC Energy in the 4th quarter valued at $47,000. Institutional investors and hedge funds own 83.13% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on TRP shares. Cibc World Mkts upgraded TC Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, May 2nd. US Capital Advisors raised TC Energy from a "hold" rating to a "moderate buy" rating in a research report on Monday, February 3rd. Wall Street Zen lowered TC Energy from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Citigroup started coverage on TC Energy in a research report on Friday, April 4th. They issued a "neutral" rating on the stock. Finally, CIBC raised TC Energy from a "neutral" rating to a "sector outperform" rating in a research report on Friday, May 2nd. 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 assigned a strong buy rating to the company's stock. According to MarketBeat, TC Energy has an average rating of "Moderate Buy" and a consensus price target of $62.00.

TC Energy Stock Performance

Shares of TRP stock traded up $0.95 during trading hours on Friday, reaching $50.46. 1,290,935 shares of the company's stock were exchanged, compared to its average volume of 2,510,216. TC Energy Co. has a fifty-two week low of $37.07 and a fifty-two week high of $51.34. The stock has a market capitalization of $52.46 billion, a P/E ratio of 15.57, a P/E/G ratio of 4.34 and a beta of 0.78. The business has a fifty 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 results on Thursday, May 1st. The pipeline company reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates of $0.70 by ($0.04). TC Energy had a net margin of 29.40% and a return on equity of 12.12%. The company had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter last year, the company earned $1.02 earnings per share. Analysts predict that TC Energy Co. will post 2.63 EPS for the current fiscal year.

TC Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a $0.6142 dividend. This represents a $2.46 annualized dividend and a yield of 4.87%. The ex-dividend date is Monday, June 30th. TC Energy's dividend payout ratio is 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.