Gulf International Bank UK Ltd Reduces Stock Position in TC Energy Co. (NYSE:TRP)

Gulf International Bank UK Ltd decreased its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 52.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,981 shares of the pipeline company’s stock after selling 3,332 shares during the period. Gulf International Bank UK Ltd’s holdings in TC Energy were worth $141,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. EdgeRock Capital LLC purchased a new stake in shares of TC Energy in the second quarter valued at approximately $25,000. Whittier Trust Co. of Nevada Inc. grew its position in shares of TC Energy by 138.8% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock worth $28,000 after buying an additional 429 shares in the last quarter. Fortitude Family Office LLC purchased a new position in shares of TC Energy during the third quarter valued at $28,000. Blue Trust Inc. raised its holdings in shares of TC Energy by 72.0% in the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after acquiring an additional 267 shares in the last quarter. Finally, Mather Group LLC. purchased a new stake in TC Energy in the second quarter worth about $33,000. 83.13% of the stock is currently owned by institutional investors.

TC Energy Stock Performance

TRP opened at $48.76 on Friday. The firm’s 50-day moving average price is $46.64 and its 200-day moving average price is $42.28. The company has a market cap of $50.61 billion, a P/E ratio of 19.98, a price-to-earnings-growth ratio of 4.00 and a beta of 0.81. The company has a quick ratio of 0.68, a current ratio of 0.76 and a debt-to-equity ratio of 1.57. TC Energy Co. has a 52-week low of $31.83 and a 52-week high of $50.22.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. The business had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.83 billion. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. As a group, equities analysts anticipate that TC Energy Co. will post 3.02 EPS for the current fiscal year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.822 per share. This represents a $3.29 annualized dividend and a yield of 6.74%. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s payout ratio is presently 116.80%.

Analyst Ratings Changes

TRP has been the topic of a number of research reports. StockNews.com initiated coverage on shares of TC Energy in a research report on Saturday, October 5th. They set a “hold” rating on the stock. Barclays upgraded TC Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, July 17th. JPMorgan Chase & Co. upgraded TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. Veritas upgraded TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. Finally, UBS Group upgraded TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $48.50.

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.