TC Energy Co. (NYSE:TRP) Shares Sold by First County Bank CT

First County Bank CT lessened its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 10.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,672 shares of the pipeline company’s stock after selling 3,522 shares during the quarter. First County Bank CT’s holdings in TC Energy were worth $1,087,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TRP. Signaturefd LLC lifted its position in TC Energy by 1.6% in the second quarter. Signaturefd LLC now owns 16,373 shares of the pipeline company’s stock valued at $621,000 after acquiring an additional 261 shares during the last quarter. New Hampshire Trust boosted its position in shares of TC Energy by 3.8% in the 1st quarter. New Hampshire Trust now owns 7,263 shares of the pipeline company’s stock valued at $292,000 after purchasing an additional 269 shares during the period. Windsor Advisory Group LLC grew its stake in TC Energy by 2.5% during the 1st quarter. Windsor Advisory Group LLC now owns 12,831 shares of the pipeline company’s stock worth $516,000 after buying an additional 316 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in TC Energy by 2.3% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 15,005 shares of the pipeline company’s stock worth $604,000 after buying an additional 332 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC increased its position in TC Energy by 1.9% during the first quarter. Mount Yale Investment Advisors LLC now owns 19,873 shares of the pipeline company’s stock worth $799,000 after buying an additional 364 shares during the period. Institutional investors and hedge funds own 83.13% of the company’s stock.

Wall Street Analyst Weigh In

TRP has been the subject of several research analyst reports. StockNews.com initiated coverage on TC Energy in a report on Friday. They issued a “hold” rating for the company. Barclays upgraded shares of TC Energy from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $43.50.

TC Energy Trading Up 0.1 %

NYSE:TRP opened at $47.90 on Friday. TC Energy Co. has a 12-month low of $32.51 and a 12-month high of $48.14. The company has a current ratio of 0.76, a quick ratio of 0.68 and a debt-to-equity ratio of 1.57. The stock’s 50 day simple moving average is $44.63 and its 200-day simple moving average is $40.57. The firm has a market cap of $49.70 billion, a P/E ratio of 24.69, a PEG ratio of 3.82 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.29. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. The company had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.78 billion. During the same period in the previous year, the company posted $0.71 EPS. Equities analysts anticipate that TC Energy Co. will post 3.08 EPS for the current year.

TC Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be issued a dividend of $0.702 per share. The ex-dividend date is Friday, September 27th. This represents a $2.81 annualized dividend and a yield of 5.86%. TC Energy’s dividend payout ratio is currently 144.85%.

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.