Tidal Investments LLC Sells 2,170 Shares of TC Energy Co. (NYSE:TRP)

Tidal Investments LLC trimmed its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 16.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,781 shares of the pipeline company’s stock after selling 2,170 shares during the period. Tidal Investments LLC’s holdings in TC Energy were worth $513,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. SG Americas Securities LLC increased its position in TC Energy by 33.4% during the second quarter. SG Americas Securities LLC now owns 3,455 shares of the pipeline company’s stock valued at $131,000 after acquiring an additional 865 shares during the last quarter. Raymond James Trust N.A. boosted its position in shares of TC Energy by 5.0% during the second quarter. Raymond James Trust N.A. now owns 28,662 shares of the pipeline company’s stock valued at $1,086,000 after buying an additional 1,354 shares during the period. Signature Estate & Investment Advisors LLC bought a new position in shares of TC Energy during the second quarter valued at approximately $329,000. Atomi Financial Group Inc. raised its holdings in shares of TC Energy by 31.1% in the second quarter. Atomi Financial Group Inc. now owns 7,155 shares of the pipeline company’s stock worth $271,000 after buying an additional 1,697 shares during the period. Finally, K.J. Harrison & Partners Inc lifted its stake in shares of TC Energy by 9.9% during the 2nd quarter. K.J. Harrison & Partners Inc now owns 264,522 shares of the pipeline company’s stock worth $10,023,000 after acquiring an additional 23,910 shares during the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Trading Up 1.0 %

Shares of NYSE:TRP opened at $45.79 on Monday. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78. The company has a market capitalization of $47.53 billion, a PE ratio of 12.68, a P/E/G ratio of 3.88 and a beta of 0.82. TC Energy Co. has a 12-month low of $31.83 and a 12-month high of $50.37. The business’s fifty day simple moving average is $47.79 and its 200-day simple moving average is $44.48.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.83 billion. As a group, equities research analysts predict that TC Energy Co. will post 3 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.822 dividend. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. This represents a $3.29 annualized dividend and a yield of 7.18%. The ex-dividend date is Tuesday, December 31st. TC Energy’s payout ratio is currently 67.31%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on TRP shares. Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. Veritas upgraded shares of TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. The Goldman Sachs Group upped their target price on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research note on Monday, October 21st. StockNews.com began coverage on shares of TC Energy in a research note on Wednesday, December 4th. They set a “hold” rating for the company. Finally, BMO Capital Markets increased their price objective on TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 20th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $55.67.

About TC Energy

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.