United Services Automobile Association Has $1.65 Million Stake in TC Energy Co. (NYSE:TRP)

United Services Automobile Association reduced its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 8.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,730 shares of the pipeline company’s stock after selling 3,320 shares during the period. United Services Automobile Association’s holdings in TC Energy were worth $1,651,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in TRP. Captrust Financial Advisors lifted its holdings in shares of TC Energy by 1.3% during the third quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock worth $871,000 after buying an additional 242 shares in the last quarter. Signaturefd LLC raised its stake in TC Energy by 1.6% in the 2nd quarter. Signaturefd LLC now owns 16,373 shares of the pipeline company’s stock worth $621,000 after purchasing an additional 261 shares in the last quarter. Prospera Financial Services Inc raised its stake in TC Energy by 4.8% in the 3rd quarter. Prospera Financial Services Inc now owns 5,754 shares of the pipeline company’s stock worth $274,000 after purchasing an additional 262 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in TC Energy by 8.1% in the 3rd quarter. First Horizon Advisors Inc. now owns 3,505 shares of the pipeline company’s stock valued at $167,000 after purchasing an additional 264 shares during the period. Finally, Blue Trust Inc. grew its position in shares of TC Energy by 72.0% during the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 267 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. StockNews.com initiated coverage on shares of TC Energy in a research report on Wednesday. They issued a “hold” rating for the company. UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. BMO Capital Markets increased their target price on TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a report on Wednesday, November 20th. Veritas raised TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. Finally, The Goldman Sachs Group increased their price objective on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research note on Monday, October 21st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $55.67.

TC Energy Stock Performance

TC Energy stock opened at $48.25 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78. The stock has a market cap of $50.08 billion, a PE ratio of 13.37, a P/E/G ratio of 4.09 and a beta of 0.82. TC Energy Co. has a 12-month low of $31.83 and a 12-month high of $50.37. The business’s 50-day moving average price is $47.62 and its two-hundred day moving average price is $43.92.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. The business had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. As a group, analysts expect that TC Energy Co. will post 3 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.822 dividend. This represents a $3.29 dividend on an annualized basis and a dividend yield of 6.81%. This is a boost from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, December 31st. TC Energy’s dividend payout ratio is presently 78.95%.

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.