Crossmark Global Holdings Inc. Sells 27,183 Shares of TC Energy Co. (NYSE:TRP)

Crossmark Global Holdings Inc. reduced its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 43.8% in the third quarter, Holdings Channel.com reports. The fund owned 34,819 shares of the pipeline company’s stock after selling 27,183 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in TC Energy were worth $1,655,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of TRP. EdgeRock Capital LLC purchased a new position in shares of TC Energy during the 2nd quarter valued at $25,000. Whittier Trust Co. of Nevada Inc. boosted its stake in TC Energy by 138.8% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock valued at $28,000 after buying an additional 429 shares during the period. Fortitude Family Office LLC bought a new stake in TC Energy during the third quarter valued at $28,000. Blue Trust Inc. grew its position in TC Energy by 72.0% during the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after buying an additional 267 shares in the last quarter. Finally, Mather Group LLC. bought a new position in TC Energy in the 2nd quarter worth about $33,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. JPMorgan Chase & Co. raised shares of TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. The Goldman Sachs Group lifted their price objective on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a report on Monday, October 21st. Barclays raised TC Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, July 17th. Finally, Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, TC Energy has an average rating of “Hold” and an average price target of $48.50.

TC Energy Price Performance

TRP stock opened at $48.45 on Thursday. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31. The firm has a market cap of $50.28 billion, a P/E ratio of 13.42, a P/E/G ratio of 4.06 and a beta of 0.81. The firm’s fifty day moving average is $46.75 and its 200 day moving average is $42.55. 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 released its earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. The company had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.83 billion. Research analysts predict that TC Energy Co. will post 2.98 earnings per share for the current year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.822 dividend. This is a boost from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, December 31st. This represents a $3.29 annualized dividend and a dividend yield of 6.79%. TC Energy’s dividend payout ratio (DPR) is currently 78.95%.

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.