Kingswood Wealth Advisors LLC Lowers Stock Holdings in TC Energy Co. (NYSE:TRP)

Kingswood Wealth Advisors LLC cut its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 13.6% in the 1st quarter, Holdings Channel.com reports. The firm owned 5,101 shares of the pipeline company’s stock after selling 805 shares during the period. Kingswood Wealth Advisors LLC’s holdings in TC Energy were worth $205,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Research Global Investors grew its holdings in TC Energy by 23.7% during the fourth quarter. Capital Research Global Investors now owns 55,677,989 shares of the pipeline company’s stock worth $2,174,931,000 after acquiring an additional 10,654,993 shares during the period. Norges Bank acquired a new position in shares of TC Energy during the 4th quarter worth $341,262,000. Mufg Securities Canada LTD. purchased a new position in shares of TC Energy in the 4th quarter valued at about $235,580,000. Capital International Investors lifted its stake in shares of TC Energy by 11.8% in the fourth quarter. Capital International Investors now owns 55,161,245 shares of the pipeline company’s stock valued at $2,155,419,000 after purchasing an additional 5,822,056 shares during the period. Finally, FIL Ltd lifted its stake in shares of TC Energy by 37.2% in the fourth quarter. FIL Ltd now owns 16,706,812 shares of the pipeline company’s stock valued at $652,613,000 after purchasing an additional 4,528,555 shares during the period. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, TheStreet upgraded shares of TC Energy from a “c+” rating to a “b-” rating in a research report on Wednesday, March 20th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $48.83.

TC Energy Stock Performance

Shares of TRP opened at $37.90 on Friday. The company has a 50-day moving average of $38.10 and a two-hundred day moving average of $38.77. The stock has a market cap of $37.90 billion, a P/E ratio of 19.54, a PEG ratio of 3.20 and a beta of 0.79. TC Energy Co. has a 12-month low of $32.51 and a 12-month high of $41.03. The company has a current ratio of 0.94, a quick ratio of 0.85 and a debt-to-equity ratio of 1.64.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Friday, May 3rd. The pipeline company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.09. The firm had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.12 billion. TC Energy had a return on equity of 17.94% and a net margin of 17.23%. As a group, research analysts predict that TC Energy Co. will post 3.01 EPS for the current fiscal year.

TC Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.49%. The ex-dividend date of this dividend is Friday, June 28th. TC Energy’s payout ratio is currently 145.88%.

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.