Price T Rowe Associates Inc. MD Sells 462,389 Shares of TC Energy Co. (NYSE:TRP)

Price T Rowe Associates Inc. MD lowered its holdings in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 12.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,152,481 shares of the pipeline company's stock after selling 462,389 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.30% of TC Energy worth $146,685,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Addenda Capital Inc. increased its position in TC Energy by 4.4% during the 4th quarter. Addenda Capital Inc. now owns 1,034,497 shares of the pipeline company's stock worth $48,135,000 after purchasing an additional 43,639 shares in the last quarter. Ritholtz Wealth Management increased its position in shares of TC Energy by 44.8% in the fourth quarter. Ritholtz Wealth Management now owns 23,957 shares of the pipeline company's stock worth $1,115,000 after acquiring an additional 7,412 shares in the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of TC Energy by 7.8% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 224,829 shares of the pipeline company's stock worth $10,463,000 after acquiring an additional 16,334 shares in the last quarter. Cinctive Capital Management LP increased its position in shares of TC Energy by 12.3% in the fourth quarter. Cinctive Capital Management LP now owns 194,133 shares of the pipeline company's stock worth $9,042,000 after acquiring an additional 21,243 shares in the last quarter. Finally, Guardian Partners Inc. acquired a new stake in TC Energy during the 4th quarter valued at $8,614,000. Hedge funds and other institutional investors own 83.13% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on TRP shares. Royal Bank of Canada raised their price target on shares of TC Energy from $71.00 to $74.00 and gave the company an "outperform" rating in a report on Tuesday, February 18th. Veritas upgraded shares of TC Energy from a "strong sell" rating to a "strong-buy" rating in a research report on Tuesday, February 18th. US Capital Advisors raised shares of TC Energy from a "hold" rating to a "moderate buy" rating in a research note on Monday, February 3rd. Citigroup started coverage on shares of TC Energy in a research note on Friday, April 4th. They set a "neutral" rating on the stock. Finally, TD Securities initiated coverage on TC Energy in a research report on Wednesday, January 15th. They set a "buy" rating for the company. One analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $62.00.

TC Energy Stock Performance

Shares of NYSE:TRP traded down $0.29 during midday trading on Thursday, hitting $50.12. The company's stock had a trading volume of 2,087,134 shares, compared to its average volume of 2,569,602. The stock has a market capitalization of $52.11 billion, a price-to-earnings ratio of 15.47, a PEG ratio of 4.34 and a beta of 0.74. The stock's 50 day simple moving average is $47.32 and its 200 day simple moving average is $47.25. TC Energy Co. has a fifty-two week low of $35.54 and a fifty-two week high of $51.24. 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 released its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.54. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.42 billion. During the same period last year, the business earned $1.35 earnings per share. As a group, research analysts anticipate that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 31st were given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 6.78%. The ex-dividend date was Monday, March 31st. This is an increase from TC Energy's previous quarterly dividend of $0.82. TC Energy's dividend payout ratio (DPR) is 72.84%.

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.