Zurich Insurance Group Ltd FI Trims Stock Position in TC Energy Co. (NYSE:TRP)

Zurich Insurance Group Ltd FI trimmed its holdings in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 63.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 555,784 shares of the pipeline company's stock after selling 981,713 shares during the period. Zurich Insurance Group Ltd FI owned about 0.05% of TC Energy worth $25,876,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. NTV Asset Management LLC lifted its holdings in TC Energy by 4.0% in the fourth quarter. NTV Asset Management LLC now owns 6,189 shares of the pipeline company's stock worth $288,000 after buying an additional 239 shares during the period. Lee Financial Co lifted its stake in shares of TC Energy by 3.1% in the 4th quarter. Lee Financial Co now owns 8,185 shares of the pipeline company's stock valued at $381,000 after purchasing an additional 246 shares during the period. IFP Advisors Inc boosted its position in shares of TC Energy by 7.0% during the fourth quarter. IFP Advisors Inc now owns 3,809 shares of the pipeline company's stock valued at $177,000 after purchasing an additional 249 shares in the last quarter. Benjamin Edwards Inc. grew its stake in TC Energy by 1.7% in the fourth quarter. Benjamin Edwards Inc. now owns 16,003 shares of the pipeline company's stock worth $745,000 after purchasing an additional 273 shares during the period. Finally, Global Retirement Partners LLC raised its holdings in TC Energy by 7.2% in the fourth quarter. Global Retirement Partners LLC now owns 4,099 shares of the pipeline company's stock worth $191,000 after purchasing an additional 274 shares in the last quarter. 83.13% of the stock is owned by institutional investors.

TC Energy Trading Up 1.9%

Shares of TC Energy stock traded up $0.95 during trading on Monday, hitting $50.46. The stock had a trading volume of 1,290,935 shares, compared to its average volume of 2,510,216. TC Energy Co. has a 12 month low of $37.07 and a 12 month high of $51.34. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23. The firm's fifty day simple moving average is $48.70 and its 200-day simple moving average is $47.56. The stock has a market cap of $52.46 billion, a PE ratio of 15.57, a PEG ratio of 4.34 and a beta of 0.78.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its 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). The business had revenue of $1.78 billion during the quarter, compared to analysts' expectations of $2.57 billion. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. During the same quarter in the previous year, the business earned $1.02 EPS. As a group, sell-side 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. Shareholders of record on Monday, June 30th will be given a dividend of $0.6142 per share. This represents a $2.46 dividend on an annualized basis and a yield of 4.87%. The ex-dividend date of this dividend is Monday, June 30th. TC Energy's dividend payout ratio (DPR) is 77.89%.

Analyst Upgrades and Downgrades

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