Phillips Wealth Planners LLC Lowers Stock Position in TC Energy Co. (NYSE:TRP)

Phillips Wealth Planners LLC lessened its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 15.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 6,733 shares of the pipeline company’s stock after selling 1,239 shares during the period. Phillips Wealth Planners LLC’s holdings in TC Energy were worth $314,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Intech Investment Management LLC increased its stake in shares of TC Energy by 14.3% in the 2nd quarter. Intech Investment Management LLC now owns 32,936 shares of the pipeline company’s stock valued at $1,248,000 after purchasing an additional 4,127 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its position in shares of TC Energy by 4.7% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 15,708 shares of the pipeline company’s stock valued at $596,000 after buying an additional 703 shares in the last quarter. AE Wealth Management LLC increased its position 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 valued at $324,000 after buying an additional 738 shares in the last quarter. Ensign Peak Advisors Inc raised 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 worth $2,656,000 after buying an additional 2,200 shares during the period. Finally, Evergreen Capital Management LLC lifted its position in shares of TC Energy by 26.0% during the 2nd quarter. Evergreen Capital Management LLC now owns 45,434 shares of the pipeline company’s stock valued at $1,722,000 after buying an additional 9,364 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Stock Down 0.5 %

Shares of TRP opened at $47.19 on Thursday. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31. TC Energy Co. has a one year low of $31.83 and a one year high of $50.37. The stock has a market capitalization of $49.04 billion, a price-to-earnings ratio of 13.07, a PEG ratio of 4.48 and a beta of 0.82. The stock has a 50 day moving average price of $47.52 and a 200 day moving average price of $45.80.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.06. The company had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.83 billion. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. Equities research analysts forecast that TC Energy Co. will post 2.95 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The business also recently announced 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 boost from TC Energy’s previous quarterly dividend of $0.70. This represents a $3.29 annualized dividend and a yield of 6.97%. The ex-dividend date is Tuesday, December 31st. TC Energy’s dividend payout ratio is presently 63.43%.

Wall Street Analysts Forecast Growth

TRP has been the subject of several recent analyst reports. StockNews.com started coverage on shares of TC Energy in a report on Wednesday, December 4th. They issued a “hold” rating for the company. 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 lifted their price objective on TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a report on Monday, October 21st. BMO Capital Markets increased their target price on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. Finally, TD Securities began coverage on TC Energy in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $55.67.

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.