TC Energy Corporation $TRP Shares Sold by Vontobel Holding Ltd.

Key Points

• Vontobel Holding cut its TC Energy stake by 75.2% in the third quarter, selling 573,733 shares and retaining 189,021 shares valued at approximately $10.9 million.
• TC Energy reported quarterly EPS of $0.68, exceeding estimates of $0.61, on revenue of $2.80 billion. The company declared a quarterly dividend of C$0.88 per share, representing a 5.7% annualized yield.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and a $92 price target; institutional investors collectively own 83.13% of the company.

Vontobel Holding Ltd. reduced its position in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 75.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 189,021 shares of the pipeline company's stock after selling 573,733 shares during the quarter. Vontobel Holding Ltd.'s holdings in TC Energy were worth $10,944,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of TRP. TD Waterhouse Canada Inc. lifted its position in shares of TC Energy by 0.4% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 10,660,905 shares of the pipeline company's stock valued at $623,355,000 after buying an additional 40,969 shares during the last quarter. Halbert Hargrove Global Advisors LLC bought a new position in shares of TC Energy during the 3rd quarter worth $35,000. YANKCOM Partnership grew its stake in shares of TC Energy by 4.6% during the 3rd quarter. YANKCOM Partnership now owns 14,538 shares of the pipeline company's stock worth $840,000 after acquiring an additional 633 shares during the period. Triasima Portfolio Management inc. grew its stake in shares of TC Energy by 11.1% during the 3rd quarter. Triasima Portfolio Management inc. now owns 51,980 shares of the pipeline company's stock worth $3,016,000 after acquiring an additional 5,210 shares during the period. Finally, Turtle Creek Wealth Advisors LLC increased its holdings in TC Energy by 33.7% in the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 23,465 shares of the pipeline company's stock worth $1,356,000 after acquiring an additional 5,920 shares during the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Trading Up 3.2%

Shares of TRP stock opened at $61.59 on Friday. The company's fifty day simple moving average is $61.41 and its two-hundred day simple moving average is $64.74. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.61 and a quick ratio of 0.54. TC Energy Corporation has a 1 year low of $49.27 and a 1 year high of $71.47. The stock has a market capitalization of $61.59 billion, a price-to-earnings ratio of 25.56 and a beta of 0.70.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its earnings results on Thursday, July 30th. The pipeline company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.07. TC Energy had a return on equity of 11.10% and a net margin of 22.91%. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.76 billion. During the same quarter in the prior year, the business posted $0.82 earnings per share. As a group, analysts anticipate that TC Energy Corporation will post 2.77 earnings per share for the current year.

TC Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Tuesday, September 29th will be paid a dividend of C$0.88 per share. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date is Tuesday, September 29th. TC Energy's payout ratio is presently 104.98%.

Wall Street Analyst Weigh In

TRP has been the topic of a number of research reports. The Goldman Sachs Group upgraded TC Energy from a "neutral" rating to a "buy" rating and set a $71.00 price objective on the stock in a research note on Wednesday, September 30th. Scotiabank reaffirmed an "outperform" rating on shares of TC Energy in a report on Tuesday, July 21st. TD Securities reiterated a "buy" rating on shares of TC Energy in a research report on Friday. Royal Bank Of Canada reiterated a "moderate buy" rating and set a $106.00 target price on shares of TC Energy in a research report on Friday, September 11th. Finally, Barclays reiterated an "overweight" rating on shares of TC Energy in a research note on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $92.00.

TC Energy Company Profile

TC Energy Corporation NYSE: TRP is a North American energy infrastructure company that develops and operates natural gas pipelines, storage facilities, power-generation assets and related energy infrastructure. Its natural gas pipeline network connects major supply basins with utilities, power producers, industrial customers and local distribution companies.

The company's operations are primarily located in Canada and the United States, with additional natural gas pipeline interests in Mexico.

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