Two Sigma Advisers LP Cuts Stock Holdings in TC Energy Co. (NYSE:TRP)

Two Sigma Advisers LP lowered its holdings in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 92.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 23,196 shares of the pipeline company's stock after selling 290,904 shares during the period. Two Sigma Advisers LP's holdings in TC Energy were worth $1,079,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Citigroup assumed coverage on shares of TC Energy in a report on Friday, April 4th. They issued a "neutral" rating on the stock. Royal Bank of Canada boosted their price objective on TC Energy from $71.00 to $74.00 and gave the company an "outperform" rating in a research note on Tuesday, February 18th. Cibc World Mkts raised TC Energy from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 2nd. Veritas upgraded TC Energy from a "strong sell" rating to a "strong-buy" rating in a report on Tuesday, February 18th. Finally, Wall Street Zen lowered TC Energy from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $62.00.

TC Energy Stock Up 0.5%

TC Energy stock traded up $0.28 during mid-day trading on Wednesday, reaching $51.59. The stock had a trading volume of 317,386 shares, compared to its average volume of 2,472,524. The firm has a market capitalization of $53.63 billion, a PE ratio of 15.88, a price-to-earnings-growth ratio of 4.34 and a beta of 0.78. TC Energy Co. has a fifty-two week low of $37.07 and a fifty-two week high of $51.98. The stock's 50-day simple moving average is $48.95 and its 200-day simple moving average is $47.65. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its quarterly earnings results on Thursday, May 1st. The pipeline company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.04). The business had revenue of $1.78 billion during the quarter, compared to analyst estimates of $2.57 billion. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. During the same period in the previous year, the business posted $1.02 EPS. On average, 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 announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be given a dividend of $0.6142 per share. This represents a $2.46 annualized dividend and a dividend yield of 4.76%. The ex-dividend date is Monday, June 30th. TC Energy's payout ratio is presently 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.