TC Energy Co. (NYSE:TRP) Position Lowered by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 4.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 45,200 shares of the pipeline company’s stock after selling 2,300 shares during the period. Principal Financial Group Inc.’s holdings in TC Energy were worth $2,151,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Fortitude Family Office LLC bought a new stake in shares of TC Energy during the 3rd quarter valued at about $28,000. Blue Trust Inc. raised its position in shares of TC Energy by 72.0% during the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 267 shares during the period. EdgeRock Capital LLC bought a new stake in shares of TC Energy in the 2nd quarter worth approximately $25,000. Whittier Trust Co. of Nevada Inc. grew its stake in 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 during the last quarter. Finally, Mather Group LLC. acquired a new stake in TC Energy in the second quarter worth $33,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Price Performance

Shares of NYSE:TRP opened at $49.86 on Friday. The stock has a market cap of $51.75 billion, a price-to-earnings ratio of 13.81, a PEG ratio of 4.19 and a beta of 0.81. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23. TC Energy Co. has a 12 month low of $31.83 and a 12 month high of $50.37. The stock’s 50 day moving average price is $47.22 and its 200 day moving average price is $43.18.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.83 billion. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. Equities research analysts anticipate that TC Energy Co. will post 2.98 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $0.822 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from TC Energy’s previous quarterly dividend of $0.70. This represents a $3.29 annualized dividend and a yield of 6.59%. TC Energy’s payout ratio is 78.95%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. The Goldman Sachs Group upped their price target on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research report on Monday, October 21st. UBS Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. raised TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. StockNews.com assumed coverage on TC Energy in a research report on Monday, November 18th. They issued a “hold” rating on the stock. Finally, Veritas raised TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $55.67.

TC Energy 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.