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

Stifel Financial Corp cut its holdings in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 7.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 333,762 shares of the pipeline company's stock after selling 25,262 shares during the period. Stifel Financial Corp's holdings in TC Energy were worth $15,530,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of TC Energy during the 4th quarter worth $428,759,000. Mufg Securities Canada LTD. increased its holdings in shares of TC Energy by 571.7% during the 4th quarter. Mufg Securities Canada LTD. now owns 6,184,832 shares of the pipeline company's stock worth $288,043,000 after buying an additional 5,264,079 shares during the last quarter. FIL Ltd increased its holdings in shares of TC Energy by 10.3% during the 4th quarter. FIL Ltd now owns 28,443,403 shares of the pipeline company's stock worth $1,325,558,000 after buying an additional 2,644,627 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of TC Energy during the 4th quarter worth $102,405,000. Finally, Kayne Anderson Capital Advisors LP increased its holdings in shares of TC Energy by 51.4% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 4,842,255 shares of the pipeline company's stock worth $225,310,000 after buying an additional 1,644,115 shares during the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Stock Down 0.6 %

TRP stock traded down $0.29 during midday trading on Thursday, hitting $50.12. 2,087,134 shares of the company's stock were exchanged, compared to its average volume of 2,437,422. TC Energy Co. has a 12-month low of $32.69 and a 12-month high of $51.25. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56. The stock has a market capitalization of $52.11 billion, a price-to-earnings ratio of 15.47, a price-to-earnings-growth ratio of 4.34 and a beta of 0.74. The firm has a 50 day moving average price of $47.32 and a 200-day moving average price of $47.25.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $2.42 billion. During the same period in the previous year, the business earned $1.35 EPS. On average, analysts anticipate that TC Energy Co. will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st were issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 6.78%. This is an increase from TC Energy's previous quarterly dividend of $0.82. The ex-dividend date was Monday, March 31st. TC Energy's payout ratio is 72.84%.

Wall Street Analyst Weigh In

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

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.