TC Energy Co. (NYSE:TRP) Stock Holdings Lessened by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 46.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 143,148 shares of the pipeline company’s stock after selling 126,100 shares during the period. Allspring Global Investments Holdings LLC’s holdings in TC Energy were worth $6,807,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Blue Trust Inc. boosted its position in shares of TC Energy by 72.0% in the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 267 shares during the period. Baskin Financial Services Inc. acquired a new position in shares of TC Energy in the third quarter worth about $282,000. Creative Planning increased its position in shares of TC Energy by 4.1% in the third quarter. Creative Planning now owns 46,779 shares of the pipeline company’s stock worth $2,224,000 after acquiring an additional 1,829 shares in the last quarter. Procyon Advisors LLC raised its holdings in shares of TC Energy by 4.0% during the third quarter. Procyon Advisors LLC now owns 12,847 shares of the pipeline company’s stock valued at $611,000 after acquiring an additional 491 shares during the period. Finally, Viking Fund Management LLC lifted its position in shares of TC Energy by 3.0% in the 3rd quarter. Viking Fund Management LLC now owns 157,000 shares of the pipeline company’s stock valued at $7,465,000 after acquiring an additional 4,600 shares in the last quarter. 83.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TRP. JPMorgan Chase & Co. upgraded shares of TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. The Goldman Sachs Group upped their price target on TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research report on Monday, October 21st. StockNews.com began coverage on TC Energy in a research note on Saturday, October 5th. They issued a “hold” rating for the company. Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday. Finally, Veritas raised shares of TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $48.50.

TC Energy Stock Performance

Shares of NYSE TRP opened at $47.26 on Monday. TC Energy Co. has a one year low of $30.61 and a one year high of $48.25. The business’s 50-day moving average price is $46.20 and its two-hundred day moving average price is $41.56. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.76 and a quick ratio of 0.68. The company has a market capitalization of $47.26 billion, a P/E ratio of 24.36, a price-to-earnings-growth ratio of 3.92 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.29. The firm had revenue of $2.99 billion for 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 posted $0.71 earnings per share. Analysts anticipate that TC Energy Co. will post 3.02 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders 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 5.94%. TC Energy’s dividend payout ratio is currently 146.39%.

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.