TC Energy Co. (NYSE:TRP) Shares Sold by Truist Financial Corp

Truist Financial Corp reduced its stake in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 17.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 366,734 shares of the pipeline company's stock after selling 78,393 shares during the quarter. Truist Financial Corp's holdings in TC Energy were worth $14,336,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of TRP. Bruce G. Allen Investments LLC purchased a new position in TC Energy in the 4th quarter worth approximately $26,000. Hexagon Capital Partners LLC increased its stake in shares of TC Energy by 158.3% in the third quarter. Hexagon Capital Partners LLC now owns 1,085 shares of the pipeline company's stock worth $37,000 after buying an additional 665 shares during the period. Peoples Bank KS bought a new stake in TC Energy during the 3rd quarter valued at $45,000. AdvisorNet Financial Inc boosted its position in TC Energy by 25.8% during the 4th quarter. AdvisorNet Financial Inc now owns 1,483 shares of the pipeline company's stock valued at $58,000 after buying an additional 304 shares during the period. Finally, Whittier Trust Co. grew its holdings in TC Energy by 1,500.0% in the 4th quarter. Whittier Trust Co. now owns 1,840 shares of the pipeline company's stock worth $72,000 after acquiring an additional 1,725 shares during the last quarter. Institutional investors own 83.13% of the company's stock.

TC Energy Stock Down 0.3 %

Shares of NYSE:TRP traded down $0.12 during trading on Wednesday, reaching $35.73. 4,994,891 shares of the stock traded hands, compared to its average volume of 3,075,052. TC Energy Co. has a 52-week low of $32.51 and a 52-week high of $42.49. The stock has a 50-day moving average of $38.60 and a two-hundred day moving average of $38.09. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.88 and a current ratio of 0.96. The stock has a market cap of $35.73 billion, a P/E ratio of 17.60, a price-to-earnings-growth ratio of 3.10 and a beta of 0.75.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its quarterly earnings data on Friday, February 16th. The pipeline company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.79 by $0.20. TC Energy had a return on equity of 18.60% and a net margin of 18.25%. The company had revenue of $3.11 billion for the quarter, compared to analysts' expectations of $2.93 billion. As a group, sell-side analysts expect that TC Energy Co. will post 2.9 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.714 per share. This represents a $2.86 annualized dividend and a dividend yield of 7.99%. This is a boost from TC Energy's previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Wednesday, March 27th. TC Energy's dividend payout ratio is presently 139.41%.

Wall Street Analysts Forecast Growth

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

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.