Bradley Foster & Sargent Inc. CT Reduces Position in TC Energy Co. (NYSE:TRP)

Bradley Foster & Sargent Inc. CT trimmed its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 3.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 127,077 shares of the pipeline company’s stock after selling 4,231 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in TC Energy were worth $5,913,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. NTV Asset Management LLC raised its holdings in TC Energy by 4.0% in the 4th quarter. NTV Asset Management LLC now owns 6,189 shares of the pipeline company’s stock valued at $288,000 after acquiring an additional 239 shares during the last quarter. Captrust Financial Advisors increased its holdings in shares of TC Energy by 1.3% in the third quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock valued at $871,000 after purchasing an additional 242 shares during the last quarter. Lee Financial Co increased its holdings in shares of TC Energy by 3.1% in the fourth quarter. Lee Financial Co now owns 8,185 shares of the pipeline company’s stock valued at $381,000 after purchasing an additional 246 shares during the last quarter. Prospera Financial Services Inc lifted its position in TC Energy by 4.8% during the third quarter. Prospera Financial Services Inc now owns 5,754 shares of the pipeline company’s stock worth $274,000 after buying an additional 262 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its stake in TC Energy by 8.1% during the third quarter. First Horizon Advisors Inc. now owns 3,505 shares of the pipeline company’s stock worth $167,000 after buying an additional 264 shares during the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on TRP shares. StockNews.com upgraded TC Energy from a “hold” rating to a “buy” rating in a report on Wednesday. Morgan Stanley raised shares of TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. Royal Bank of Canada boosted their target price on shares of TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a report on Tuesday. US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. Finally, TD Securities assumed coverage on TC Energy in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, TC Energy presently has an average rating of “Moderate Buy” and an average target price of $62.00.

TC Energy Price Performance

TC Energy stock opened at $44.94 on Friday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55. The company has a market capitalization of $46.70 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 4.34 and a beta of 0.81. The company’s 50 day simple moving average is $46.48 and its 200-day simple moving average is $46.63. TC Energy Co. has a 1 year low of $31.83 and a 1 year high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) 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 company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.42 billion. During the same quarter in the previous year, the company earned $1.35 earnings per share. As a group, equities research analysts expect that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a dividend of $0.85 per share. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. The ex-dividend date is Monday, March 31st. This represents a $3.40 annualized dividend and a yield of 7.57%. TC Energy’s dividend payout ratio is presently 70.68%.

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.