TC Energy Co. (NYSE:TRP) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC cut its stake in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 20.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm 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 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new position in TC Energy during the fourth quarter worth $31,000. Synergy Investment Management LLC acquired a new position in TC Energy during the fourth quarter worth $36,000. Millstone Evans Group LLC acquired a new position in TC Energy during the fourth quarter worth $41,000. First Command Advisory Services Inc. acquired a new position in TC Energy during the fourth quarter worth $46,000. Finally, Rogco LP raised its position in shares of TC Energy by 100.0% in the fourth quarter. Rogco LP now owns 1,000 shares of the pipeline company's stock valued at $47,000 after buying an additional 500 shares during the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Trading Down 0.7%

Shares of TRP opened at $49.47 on Tuesday. 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 12-month low of $37.07 and a 12-month high of $51.34. The firm has a 50-day moving average price of $48.48 and a 200 day moving average price of $47.51. The firm has a market capitalization of $51.43 billion, a P/E ratio of 15.27, a P/E/G ratio of 4.34 and a beta of 0.78.

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 (EPS) 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 firm had revenue of $1.78 billion during the quarter, compared to analysts' expectations of $2.57 billion. During the same period in the prior year, the company posted $1.02 EPS. Sell-side analysts forecast that TC Energy Co. will post 2.63 EPS for the current year.

TC Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a dividend of $0.6142 per share. This represents a $2.46 annualized dividend and a yield of 4.97%. The ex-dividend date of this dividend is Monday, June 30th. TC Energy's dividend payout ratio (DPR) is presently 77.89%.

Analysts Set New Price Targets

A number of brokerages have recently commented on TRP. Veritas upgraded shares of TC Energy from a "strong sell" rating to a "strong-buy" rating in a research report on Tuesday, February 18th. US Capital Advisors upgraded shares of TC Energy from a "hold" rating to a "moderate buy" rating in a research report on Monday, February 3rd. StockNews.com cut shares of TC Energy from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Royal Bank of Canada increased 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. Finally, Cibc World Mkts upgraded shares of TC Energy from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, three have issued 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.com, the stock currently has an average 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.

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