Weaver C. Barksdale & Associates Inc. Trims Stake in TC Energy Co. (NYSE:TRP)

Weaver C. Barksdale & Associates Inc. cut its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 2.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,237 shares of the pipeline company’s stock after selling 740 shares during the period. Weaver C. Barksdale & Associates Inc.’s holdings in TC Energy were worth $1,361,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Addenda Capital Inc. raised its position in shares of TC Energy by 4.4% during the 4th quarter. Addenda Capital Inc. now owns 1,034,497 shares of the pipeline company’s stock valued at $48,135,000 after purchasing an additional 43,639 shares during the period. Captrust Financial Advisors boosted its stake in shares of TC Energy by 1.3% in the third quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock worth $871,000 after acquiring an additional 242 shares during the period. Ritholtz Wealth Management grew its position in shares of TC Energy by 44.8% during the fourth quarter. Ritholtz Wealth Management now owns 23,957 shares of the pipeline company’s stock worth $1,115,000 after purchasing an additional 7,412 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in TC Energy during the 3rd quarter valued at approximately $3,771,000. Finally, Exchange Traded Concepts LLC lifted its holdings in TC Energy by 7.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,034,698 shares of the pipeline company’s stock worth $48,144,000 after purchasing an additional 71,955 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Stock Down 0.8 %

Shares of TRP opened at $48.89 on Wednesday. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56. The business has a fifty day moving average of $46.45 and a 200 day moving average of $46.91. The company has a market cap of $50.80 billion, a PE ratio of 15.09, a P/E/G ratio of 4.34 and a beta of 0.83. TC Energy Co. has a 52-week low of $34.95 and a 52-week high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.54. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. The firm had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.42 billion. During the same period in the previous year, the company earned $1.35 EPS. On average, sell-side analysts expect that TC Energy Co. will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a dividend of $0.85 per share. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. This represents a $3.40 dividend on an annualized basis and a dividend yield of 6.95%. The ex-dividend date of this dividend is Monday, March 31st. TC Energy’s dividend payout ratio (DPR) is currently 72.53%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on TRP shares. Royal Bank of Canada lifted their price objective on shares of TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. TD Securities assumed coverage on TC Energy in a research report on Wednesday, January 15th. They issued a “buy” rating on the stock. StockNews.com cut TC Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Finally, Veritas raised TC Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, TC Energy has an average rating of “Moderate Buy” and an average price target of $62.00.

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.