Wrapmanager Inc. Has $400,000 Stock Holdings in TC Energy Co. (NYSE:TRP)

Wrapmanager Inc. lowered its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 17.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,233 shares of the pipeline company’s stock after selling 2,142 shares during the period. Wrapmanager Inc.’s holdings in TC Energy were worth $400,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of TRP. Vanguard Group Inc. grew its holdings in TC Energy by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 39,625,940 shares of the pipeline company’s stock worth $1,363,529,000 after acquiring an additional 1,344,000 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in TC Energy by 18.0% in the third quarter. Canada Pension Plan Investment Board now owns 24,574,983 shares of the pipeline company’s stock worth $849,037,000 after purchasing an additional 3,740,495 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of TC Energy by 70.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 16,540,018 shares of the pipeline company’s stock worth $569,058,000 after buying an additional 6,840,000 shares in the last quarter. Legal & General Group Plc grew its position in shares of TC Energy by 3.5% during the 3rd quarter. Legal & General Group Plc now owns 9,725,714 shares of the pipeline company’s stock worth $335,992,000 after buying an additional 328,795 shares during the period. Finally, CIBC Asset Management Inc increased its stake in shares of TC Energy by 24.8% in the 3rd quarter. CIBC Asset Management Inc now owns 9,567,604 shares of the pipeline company’s stock valued at $330,044,000 after acquiring an additional 1,901,838 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors.

TC Energy Price Performance

NYSE TRP traded up $0.33 on Thursday, reaching $38.20. 2,331,222 shares of the company’s stock traded hands, compared to its average volume of 3,079,437. The stock has a market cap of $38.20 billion, a PE ratio of 19.69, a P/E/G ratio of 3.24 and a beta of 0.76. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.96 and a quick ratio of 0.88. TC Energy Co. has a 12 month low of $32.51 and a 12 month high of $42.31. The stock has a 50-day simple moving average of $38.39 and a 200 day simple moving average of $38.18.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Friday, February 16th. The pipeline company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.20. The firm had revenue of $3.11 billion during the quarter, compared to analyst estimates of $2.93 billion. TC Energy had a return on equity of 20.63% and a net margin of 17.23%. As a group, research analysts predict that TC Energy Co. will post 2.9 earnings per share for the current year.

TC Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.43%. TC Energy’s dividend payout ratio is presently 145.88%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on TRP shares. TheStreet upgraded TC Energy from a “c+” rating to a “b-” rating in a research note on Wednesday, March 20th. The Goldman Sachs Group raised 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. Stifel Nicolaus assumed coverage on TC Energy in a research report on Thursday, January 18th. They set a “buy” rating for the company. Barclays lifted their price objective on shares of 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, Jefferies Financial Group began coverage on TC Energy in a research note on Tuesday, February 27th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, TC Energy has a consensus rating of “Hold” and an average price target of $48.83.

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.