US Bancorp DE Decreases Stake in TC Energy Corporation $TRP

US Bancorp DE decreased its holdings in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 9.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 99,742 shares of the pipeline company’s stock after selling 9,973 shares during the period. US Bancorp DE’s holdings in TC Energy were worth $5,427,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in TRP. Westside Investment Management Inc. lifted its holdings in shares of TC Energy by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 594 shares of the pipeline company’s stock valued at $32,000 after acquiring an additional 297 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in TC Energy by 237.4% in the 3rd quarter. Smartleaf Asset Management LLC now owns 803 shares of the pipeline company’s stock valued at $43,000 after purchasing an additional 565 shares in the last quarter. Sagard Holdings Management Inc. purchased a new position in TC Energy in the second quarter valued at about $46,000. SouthState Corp raised its position in TC Energy by 2,757.1% in the second quarter. SouthState Corp now owns 1,000 shares of the pipeline company’s stock valued at $49,000 after purchasing an additional 965 shares during the period. Finally, City Holding Co. acquired a new position in shares of TC Energy during the third quarter worth about $72,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Trading Up 2.1%

NYSE TRP opened at $64.38 on Monday. The company has a market capitalization of $67.03 billion, a price-to-earnings ratio of 27.70 and a beta of 0.72. The company’s fifty day moving average price is $57.89 and its two-hundred day moving average price is $54.54. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.63 and a quick ratio of 0.56. TC Energy Corporation has a 12 month low of $43.59 and a 12 month high of $64.92.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.65 by $0.05. The business had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.94 billion. TC Energy had a net margin of 23.04% and a return on equity of 10.52%. During the same quarter last year, the company posted $1.05 earnings per share. As a group, research analysts predict that TC Energy Corporation will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be paid a dividend of $0.8775 per share. This represents a $3.51 annualized dividend and a yield of 5.5%. This is a boost from TC Energy’s previous quarterly dividend of $0.85. The ex-dividend date is Tuesday, March 31st. TC Energy’s dividend payout ratio (DPR) is 106.90%.

Analysts Set New Price Targets

Several equities research analysts recently commented on TRP shares. Canadian Imperial Bank of Commerce downgraded TC Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Wells Fargo & Company reiterated an “overweight” rating on shares of TC Energy in a research note on Monday, February 16th. Citigroup restated a “neutral” rating on shares of TC Energy in a research note on Thursday, February 19th. TD Securities downgraded shares of TC Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Finally, The Goldman Sachs Group boosted their price objective on shares of TC Energy from $48.00 to $53.00 and gave the stock a “sell” rating in a report on Wednesday, February 18th. Seven analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, TC Energy presently has a consensus rating of “Hold” and a consensus target price of $72.50.

TC Energy Company Profile

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.