Redwood Wealth Management Group LLC Sells 405 Shares of TC Energy Co. (NYSE:TRP)

Redwood Wealth Management Group LLC lessened its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 3.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,346 shares of the pipeline company’s stock after selling 405 shares during the period. Redwood Wealth Management Group LLC’s holdings in TC Energy were worth $575,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Fortitude Family Office LLC bought a new position in TC Energy in the third quarter worth approximately $28,000. Blue Trust Inc. raised its stake in TC Energy by 72.0% in the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after buying an additional 267 shares in the last quarter. Versant Capital Management Inc bought a new position in TC Energy in the fourth quarter worth approximately $33,000. Point72 DIFC Ltd bought a new position in TC Energy in the third quarter worth approximately $39,000. Finally, UMB Bank n.a. bought a new position in TC Energy in the fourth quarter worth approximately $47,000. Institutional investors own 83.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on TRP shares. StockNews.com started coverage on shares of TC Energy in a research note on Wednesday, December 4th. They issued a “hold” rating for the company. Veritas raised shares of TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. TD Securities began coverage on shares of TC Energy in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. Morgan Stanley raised shares of TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. Finally, BMO Capital Markets lifted their price target on shares of TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a report on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, TC Energy presently has a consensus rating of “Hold” and a consensus target price of $56.00.

TC Energy Price Performance

Shares of TRP opened at $46.71 on Wednesday. The firm has a market capitalization of $48.53 billion, a PE ratio of 12.94, a price-to-earnings-growth ratio of 4.31 and a beta of 0.81. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23. TC Energy Co. has a 1-year low of $31.83 and a 1-year high of $50.37. The company’s fifty day moving average price is $46.92 and its 200-day moving average price is $46.25.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. The firm had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. On average, equities research analysts predict that TC Energy Co. will post 2.95 EPS for the current year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.822 per share. The ex-dividend date was Tuesday, December 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. This represents a $3.29 dividend on an annualized basis and a dividend yield of 7.04%. TC Energy’s payout ratio is 63.43%.

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.