Jackson Hole Capital Partners LLC Sells 1,227 Shares of TC Energy Co. (NYSE:TRP)

Jackson Hole Capital Partners LLC cut its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 11.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,914 shares of the pipeline company’s stock after selling 1,227 shares during the period. Jackson Hole Capital Partners LLC’s holdings in TC Energy were worth $388,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of TRP. Bruce G. Allen Investments LLC purchased a new position in TC Energy in the fourth quarter valued at approximately $26,000. Hexagon Capital Partners LLC lifted its stake in TC Energy by 158.3% in the third quarter. Hexagon Capital Partners LLC now owns 1,085 shares of the pipeline company’s stock valued at $37,000 after purchasing an additional 665 shares during the last quarter. Peoples Bank KS purchased a new position in TC Energy in the third quarter valued at approximately $45,000. AdvisorNet Financial Inc lifted its stake in TC Energy by 25.8% in the fourth quarter. AdvisorNet Financial Inc now owns 1,483 shares of the pipeline company’s stock valued at $58,000 after purchasing an additional 304 shares during the last quarter. Finally, Whittier Trust Co. lifted its stake in TC Energy by 1,500.0% in the fourth quarter. Whittier Trust Co. now owns 1,840 shares of the pipeline company’s stock valued at $72,000 after purchasing an additional 1,725 shares during the last quarter. 83.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TRP. The Goldman Sachs Group upped their price objective on TC Energy from $29.00 to $32.00 and gave the company a “sell” rating in a research note on Friday, January 26th. Jefferies Financial Group began coverage on TC Energy in a research report on Tuesday, February 27th. They set a “hold” rating on the stock. Stifel Nicolaus began coverage on TC Energy in a research report on Thursday, January 18th. They set a “buy” rating on the stock. Barclays increased their target price on TC Energy from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Monday, January 29th. Finally, TheStreet upgraded TC Energy from a “c+” rating to a “b-” rating in a research report on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $48.83.

TC Energy Price Performance

Shares of TRP stock traded down $0.02 on Friday, reaching $36.07. The company’s stock had a trading volume of 2,934,696 shares, compared to its average volume of 3,033,185. The company has a quick ratio of 0.88, a current ratio of 0.96 and a debt-to-equity ratio of 1.65. TC Energy Co. has a 12-month low of $32.51 and a 12-month high of $42.49. The company has a market capitalization of $36.07 billion, a P/E ratio of 17.77, a PEG ratio of 3.11 and a beta of 0.75. The stock’s 50 day simple moving average is $38.90 and its 200-day simple moving average is $38.03.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Friday, February 16th. The pipeline company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.20. TC Energy had a return on equity of 18.60% and a net margin of 18.25%. The company had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $2.93 billion. As a group, equities analysts predict that TC Energy Co. will post 2.89 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be given a $0.714 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 7.92%. The ex-dividend date is Wednesday, March 27th. This is an increase from TC Energy’s previous quarterly dividend of $0.67. TC Energy’s dividend payout ratio (DPR) is 139.41%.

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.