Zions Bancorporation National Association UT Lowers Holdings in TC Energy Corporation $TRP

Zions Bancorporation National Association UT trimmed its holdings in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 11.4% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 96,043 shares of the pipeline company’s stock after selling 12,391 shares during the period. Zions Bancorporation National Association UT’s holdings in TC Energy were worth $5,283,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC grew its position in TC Energy by 59.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 108,630 shares of the pipeline company’s stock worth $5,976,000 after acquiring an additional 40,514 shares during the period. Deutsche Bank AG grew its position in TC Energy by 63.2% in the fourth quarter. Deutsche Bank AG now owns 15,384,255 shares of the pipeline company’s stock worth $846,288,000 after acquiring an additional 5,956,263 shares during the period. Fox Run Management L.L.C. purchased a new position in TC Energy in the fourth quarter worth approximately $1,993,000. LPL Financial LLC grew its position in TC Energy by 3.5% in the fourth quarter. LPL Financial LLC now owns 883,704 shares of the pipeline company’s stock worth $48,613,000 after acquiring an additional 29,810 shares during the period. Finally, Franklin Resources Inc. grew its position in TC Energy by 8.7% in the fourth quarter. Franklin Resources Inc. now owns 1,596,932 shares of the pipeline company’s stock worth $87,928,000 after acquiring an additional 127,810 shares during the period. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

TC Energy Stock Up 1.0%

Shares of NYSE TRP opened at $68.84 on Thursday. The stock has a market cap of $68.84 billion, a P/E ratio of 29.88 and a beta of 0.66. The company has a current ratio of 0.65, a quick ratio of 0.57 and a debt-to-equity ratio of 1.67. TC Energy Corporation has a 12-month low of $46.29 and a 12-month high of $71.47. The business’s fifty day simple moving average is $65.41 and its 200-day simple moving average is $60.86.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Friday, May 1st. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.02. The business had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.20 billion. TC Energy had a return on equity of 10.74% and a net margin of 22.22%.During the same period last year, the firm earned $0.95 earnings per share. As a group, equities analysts predict that TC Energy Corporation will post 2.75 EPS for the current fiscal year.

TC Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be paid a $0.8775 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $3.51 dividend on an annualized basis and a yield of 5.1%. TC Energy’s dividend payout ratio (DPR) is currently 109.57%.

Analyst Ratings Changes

A number of research analysts have commented on the company. Barclays restated an “overweight” rating on shares of TC Energy in a research note on Monday, May 4th. National Bank Financial upgraded TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 4th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of TC Energy in a research note on Tuesday, May 26th. BMO Capital Markets restated an “outperform” rating on shares of TC Energy in a research note on Monday, May 4th. Finally, Morgan Stanley cut TC Energy from an “overweight” rating to an “equal weight” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.50.

About TC Energy

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.