Westwood Holdings Group Inc. Lowers Position in TC Energy Co. (NYSE:TRP)

Westwood Holdings Group Inc. decreased its position in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 10.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,939,445 shares of the pipeline company's stock after selling 221,949 shares during the quarter. Westwood Holdings Group Inc. owned 0.19% of TC Energy worth $90,242,000 at the end of the most recent quarter.

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

TC Energy Stock Performance

Shares of TRP traded up $0.95 during mid-day trading on Friday, reaching $50.46. 1,290,935 shares of the company's stock were exchanged, compared to its average volume of 2,504,805. The business's fifty day simple moving average is $48.70 and its 200-day simple moving average is $47.58. The stock has a market capitalization of $52.46 billion, a PE ratio of 15.57, a price-to-earnings-growth ratio of 4.34 and a beta of 0.78. TC Energy Co. has a 52-week low of $37.07 and a 52-week 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.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued 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 return on equity of 12.12% and a net margin of 29.40%. The business had revenue of $1.78 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same quarter in the prior year, the company earned $1.02 EPS. On average, equities research analysts expect that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be given a $0.6142 dividend. This represents a $2.46 annualized dividend 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 presently 77.89%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Wall Street Zen downgraded TC Energy from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. CIBC upgraded shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a research note on Friday, May 2nd. Royal Bank of Canada boosted their price objective on shares of TC Energy from $71.00 to $74.00 and gave the stock an "outperform" 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 report on Monday, February 3rd. Finally, Citigroup initiated coverage on shares of TC Energy in a research note on Friday, April 4th. They set a "neutral" rating on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $62.00.

TC Energy 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.