TC Energy Co. (NYSE:TRP) Shares Sold by Public Sector Pension Investment Board

Public Sector Pension Investment Board lowered its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 5.6% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 140,629 shares of the pipeline company’s stock after selling 8,353 shares during the quarter. Public Sector Pension Investment Board’s holdings in TC Energy were worth $5,330,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in TRP. Greenline Partners LLC lifted its stake in shares of TC Energy by 6.3% in the second quarter. Greenline Partners LLC now owns 295,525 shares of the pipeline company’s stock worth $11,100,000 after acquiring an additional 17,643 shares in the last quarter. Mount Yale Investment Advisors LLC raised its position in shares of TC Energy by 3.6% in the 2nd quarter. Mount Yale Investment Advisors LLC now owns 20,595 shares of the pipeline company’s stock valued at $781,000 after purchasing an additional 722 shares in the last quarter. Ensign Peak Advisors Inc boosted its stake in shares of TC Energy by 3.4% during the 2nd quarter. Ensign Peak Advisors Inc now owns 67,607 shares of the pipeline company’s stock valued at $2,656,000 after buying an additional 2,200 shares during the last quarter. Westwood Holdings Group Inc. grew its position in shares of TC Energy by 650.5% during the second quarter. Westwood Holdings Group Inc. now owns 1,526,365 shares of the pipeline company’s stock worth $57,849,000 after buying an additional 1,322,976 shares in the last quarter. Finally, AE Wealth Management LLC increased its stake in shares of TC Energy by 9.4% in the second quarter. AE Wealth Management LLC now owns 8,550 shares of the pipeline company’s stock worth $324,000 after buying an additional 738 shares during the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on TRP shares. Barclays raised shares of TC Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, July 17th. StockNews.com began coverage on shares of TC Energy in a research report on Thursday, September 19th. They set a “hold” rating for the company. One equities research 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. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $43.50.

TC Energy Trading Up 1.8 %

Shares of NYSE:TRP opened at $47.85 on Thursday. The company’s 50-day moving average price is $44.32 and its 200 day moving average price is $40.47. TC Energy Co. has a fifty-two week low of $32.51 and a fifty-two week high of $47.86. The company has a market cap of $49.64 billion, a PE ratio of 24.65, a P/E/G ratio of 3.83 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 (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.29. The business had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.78 billion. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. During the same period in the previous year, the business earned $0.71 earnings per share. Sell-side analysts anticipate that TC Energy Co. will post 3.08 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. This represents a $2.81 dividend on an annualized basis and a yield of 5.87%. The ex-dividend date is Friday, September 27th. TC Energy’s payout ratio is 144.85%.

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.