TC Energy Co. (NYSE:TRP) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company cut its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 10.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,676,790 shares of the pipeline company’s stock after selling 304,705 shares during the period. The Manufacturers Life Insurance Company owned 0.27% of TC Energy worth $101,331,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Signaturefd LLC raised its holdings in shares of TC Energy by 1.6% in the second quarter. Signaturefd LLC now owns 16,373 shares of the pipeline company’s stock worth $621,000 after buying an additional 261 shares during the last quarter. New Hampshire Trust grew its stake in TC Energy by 3.8% during the 1st quarter. New Hampshire Trust now owns 7,263 shares of the pipeline company’s stock valued at $292,000 after purchasing an additional 269 shares during the last quarter. Windsor Advisory Group LLC increased its holdings in shares of TC Energy by 2.5% in the first quarter. Windsor Advisory Group LLC now owns 12,831 shares of the pipeline company’s stock valued at $516,000 after purchasing an additional 316 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in shares of TC Energy by 2.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 15,005 shares of the pipeline company’s stock worth $604,000 after purchasing an additional 332 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC lifted its holdings in shares of TC Energy by 1.9% during the first quarter. Mount Yale Investment Advisors LLC now owns 19,873 shares of the pipeline company’s stock worth $799,000 after purchasing an additional 364 shares during the period. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Trading Down 0.9 %

Shares of NYSE:TRP opened at $46.76 on Friday. The business’s 50 day moving average price is $44.63 and its 200-day moving average price is $40.57. TC Energy Co. has a 1 year low of $32.51 and a 1 year high of $48.14. The firm has a market capitalization of $46.76 billion, a price-to-earnings ratio of 24.10, a price-to-earnings-growth ratio of 3.82 and a beta of 0.81. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.76 and a quick ratio of 0.68.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.29. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same quarter last year, the business earned $0.71 earnings per share. On average, equities research analysts forecast that TC Energy Co. will post 3.08 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders 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 payout ratio is currently 146.39%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TRP shares. Barclays raised shares of TC Energy from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, July 17th. StockNews.com started coverage on shares of TC Energy in a report on Friday. They set a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target 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.