BOK Financial Private Wealth Inc. Decreases Stock Position in TC Energy Co. (NYSE:TRP)

BOK Financial Private Wealth Inc. trimmed its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 24.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,500 shares of the pipeline company’s stock after selling 490 shares during the period. BOK Financial Private Wealth Inc.’s holdings in TC Energy were worth $71,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Addenda Capital Inc. raised its position in shares of TC Energy by 4.4% in 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 in the last quarter. Captrust Financial Advisors raised its position in shares of TC Energy by 1.3% in the 3rd quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock valued at $871,000 after purchasing an additional 242 shares in the last quarter. Ritholtz Wealth Management raised its position in shares of TC Energy by 44.8% in the 4th quarter. Ritholtz Wealth Management now owns 23,957 shares of the pipeline company’s stock valued at $1,115,000 after purchasing an additional 7,412 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of TC Energy in the 3rd quarter valued at approximately $3,771,000. Finally, Exchange Traded Concepts LLC raised its position in shares of 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 valued at $48,144,000 after purchasing an additional 71,955 shares in the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. TD Securities assumed coverage on TC Energy in a research report on Wednesday, January 15th. They issued a “buy” rating on the stock. Veritas raised TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. Royal Bank of Canada upped their price target on 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 raised TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. Finally, StockNews.com lowered TC Energy from a “buy” rating to a “hold” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, TC Energy presently has an average rating of “Moderate Buy” and a consensus target price of $62.00.

TC Energy Price Performance

Shares of NYSE TRP opened at $45.86 on Monday. TC Energy Co. has a 1-year low of $31.83 and a 1-year high of $50.37. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23. The business’s fifty day moving average price is $46.28 and its two-hundred day moving average price is $46.75. The firm has a market capitalization of $47.66 billion, a PE ratio of 14.15, a P/E/G ratio of 4.34 and a beta of 0.83.

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

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a $0.85 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. This represents a $3.40 annualized dividend and a yield of 7.41%. TC Energy’s dividend payout ratio (DPR) is currently 72.53%.

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.