Phillips Wealth Planners LLC Sells 1,239 Shares of TC Energy Co. (NYSE:TRP)

Phillips Wealth Planners LLC reduced its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 15.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,733 shares of the pipeline company’s stock after selling 1,239 shares during the quarter. Phillips Wealth Planners LLC’s holdings in TC Energy were worth $314,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Fortitude Family Office LLC bought a new stake in shares of TC Energy in the third quarter valued at about $28,000. Blue Trust Inc. grew 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 valued at $30,000 after purchasing an additional 267 shares during the last quarter. Versant Capital Management Inc purchased a new position in TC Energy in the fourth quarter valued at about $33,000. Point72 DIFC Ltd purchased a new position in TC Energy in the third quarter valued at about $39,000. Finally, UMB Bank n.a. purchased a new position in TC Energy in the fourth quarter valued at about $47,000. 83.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TRP. StockNews.com began coverage on TC Energy in a research note on Wednesday, December 4th. They issued a “hold” rating on the stock. UBS Group upgraded TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. BMO Capital Markets lifted their target price on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. JPMorgan Chase & Co. upgraded TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. Finally, TD Securities began coverage on TC Energy in a research note on Wednesday, January 15th. They set a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $55.67.

TC Energy Price Performance

Shares of NYSE:TRP opened at $47.19 on Thursday. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78. TC Energy Co. has a twelve month low of $31.83 and a twelve month high of $50.37. The company’s 50 day moving average is $47.52 and its 200 day moving average is $45.80. The company has a market cap of $49.04 billion, a PE ratio of 13.07, a price-to-earnings-growth ratio of 4.48 and a beta of 0.82.

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, topping the consensus estimate of $0.70 by $0.06. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. The firm had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.83 billion. On average, sell-side analysts forecast 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 will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.822 dividend. This represents a $3.29 annualized dividend and a dividend yield of 6.97%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s payout ratio is 63.43%.

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.