Tobam Lowers Position in TC Energy Co. (NYSE:TRP)

Tobam trimmed its stake in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 63.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 80,793 shares of the pipeline company's stock after selling 142,061 shares during the quarter. Tobam's holdings in TC Energy were worth $3,169,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. ICA Group Wealth Management LLC boosted its stake in shares of TC Energy by 23.8% during the 1st quarter. ICA Group Wealth Management LLC now owns 1,450 shares of the pipeline company's stock worth $56,000 after acquiring an additional 279 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of TC Energy by 14.2% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,315 shares of the pipeline company's stock worth $80,000 after acquiring an additional 288 shares during the period. Boothbay Fund Management LLC boosted its stake in shares of TC Energy by 1.0% during the 2nd quarter. Boothbay Fund Management LLC now owns 31,537 shares of the pipeline company's stock worth $1,274,000 after acquiring an additional 300 shares during the period. AdvisorNet Financial Inc boosted its stake in shares of TC Energy by 25.8% during the 4th quarter. AdvisorNet Financial Inc now owns 1,483 shares of the pipeline company's stock worth $58,000 after acquiring an additional 304 shares during the period. Finally, Atria Investments Inc boosted its stake in shares of TC Energy by 0.7% during the 3rd quarter. Atria Investments Inc now owns 46,620 shares of the pipeline company's stock worth $1,604,000 after acquiring an additional 317 shares during the period. 83.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TRP has been the subject of several research analyst reports. The Goldman Sachs Group lifted their target price on TC Energy from $29.00 to $32.00 and gave the stock a "sell" rating in a research note on Friday, January 26th. Jefferies Financial Group initiated coverage on TC Energy in a report on Tuesday, February 27th. They set a "hold" rating for the company. Barclays lifted their price target on TC Energy from $53.00 to $55.00 and gave the stock an "equal weight" rating in a report on Monday, January 29th. Stifel Nicolaus initiated coverage on TC Energy in a report on Thursday, January 18th. They set a "buy" rating for the company. Finally, TheStreet raised TC Energy from a "c+" rating to a "b-" rating in a report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $48.83.

TC Energy Price Performance

NYSE TRP traded up $0.26 during midday trading on Tuesday, hitting $38.34. The company had a trading volume of 2,349,157 shares, compared to its average volume of 2,747,094. The company has a market capitalization of $38.34 billion, a PE ratio of 18.89, a P/E/G ratio of 3.19 and a beta of 0.75. The company has a current ratio of 0.96, a quick ratio of 0.88 and a debt-to-equity ratio of 1.65. The firm has a 50-day moving average price of $39.46 and a 200-day moving average price of $37.95. TC Energy Co. has a twelve month low of $32.51 and a twelve month high of $42.76.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its quarterly earnings data on Friday, February 16th. The pipeline company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.20. The firm had revenue of $3.11 billion during the quarter, compared to analysts' expectations of $2.93 billion. TC Energy had a return on equity of 18.60% and a net margin of 18.25%. As a group, analysts anticipate that TC Energy Co. will post 2.99 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be issued a $0.714 dividend. The ex-dividend date is Wednesday, March 27th. This is a boost from TC Energy's previous quarterly dividend of $0.67. This represents a $2.86 annualized dividend and a yield of 7.45%. TC Energy's payout ratio is currently 139.41%.

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.