LPL Financial LLC Sells 35,650 Shares of TC Energy Co. (NYSE:TRP)

LPL Financial LLC decreased its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 4.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 830,929 shares of the pipeline company’s stock after selling 35,650 shares during the quarter. LPL Financial LLC’s holdings in TC Energy were worth $31,492,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of TRP. EdgeRock Capital LLC bought a new stake in TC Energy in the 2nd quarter worth approximately $25,000. Creekmur Asset Management LLC bought a new stake in TC Energy in the 4th quarter worth approximately $27,000. Whittier Trust Co. of Nevada Inc. lifted its position in TC Energy by 138.8% in 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. OLD Point Trust & Financial Services N A bought a new stake in TC Energy in the 4th quarter worth approximately $31,000. Finally, Mather Group LLC. bought a new stake in TC Energy in the second quarter valued at approximately $33,000. Institutional investors own 83.13% of the company’s stock.

TC Energy Stock Performance

Shares of TRP stock opened at $46.75 on Tuesday. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.68 and a current ratio of 0.76. TC Energy Co. has a fifty-two week low of $32.51 and a fifty-two week high of $47.38. The stock has a 50 day moving average price of $43.42 and a two-hundred day moving average price of $40.20. The company has a market capitalization of $48.50 billion, a P/E ratio of 24.10, a PEG ratio of 3.76 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Thursday, August 1st. The pipeline company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.29. The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.78 billion. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. During the same quarter in the prior year, the company earned $0.71 earnings per share. Analysts expect that TC Energy Co. will post 3.06 earnings per share for the current year.

TC Energy Cuts Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 6.01%. TC Energy’s dividend payout ratio is presently 144.85%.

Analyst Upgrades and Downgrades

Separately, Barclays upgraded 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 company’s stock. According to data from MarketBeat, TC Energy has a consensus rating of “Hold” and a consensus target price of $43.50.

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.