TC Energy Co. (NYSE:TRP) Stock Position Lessened by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP decreased its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 1.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,496,489 shares of the pipeline company’s stock after selling 55,511 shares during the quarter. Dimensional Fund Advisors LP owned 0.35% of TC Energy worth $132,542,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Signaturefd LLC grew its stake in shares of TC Energy by 1.6% in the second quarter. Signaturefd LLC now owns 16,373 shares of the pipeline company’s stock worth $621,000 after purchasing an additional 261 shares in the last quarter. New Hampshire Trust lifted its holdings in shares of TC Energy by 3.8% in the first quarter. New Hampshire Trust now owns 7,263 shares of the pipeline company’s stock valued at $292,000 after buying an additional 269 shares during the period. Windsor Advisory Group LLC lifted its holdings in shares of TC Energy by 2.5% in the first quarter. Windsor Advisory Group LLC now owns 12,831 shares of the pipeline company’s stock valued at $516,000 after buying an additional 316 shares during the period. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of TC Energy by 2.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 15,005 shares of the pipeline company’s stock valued at $604,000 after buying an additional 332 shares during the period. Finally, Mount Yale Investment Advisors LLC lifted its holdings in shares of TC Energy by 1.9% in the first quarter. Mount Yale Investment Advisors LLC now owns 19,873 shares of the pipeline company’s stock valued at $799,000 after buying an additional 364 shares during the period. Institutional investors own 83.13% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. StockNews.com assumed coverage on TC Energy in a report on Thursday. They issued a “hold” rating for the company. Barclays upgraded TC Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, TC Energy has a consensus rating of “Hold” and a consensus target price of $43.50.

TC Energy Trading Up 2.6 %

Shares of NYSE TRP opened at $46.18 on Monday. TC Energy Co. has a 12 month low of $32.51 and a 12 month high of $47.38. The company has a market cap of $46.18 billion, a price-to-earnings ratio of 23.80, a P/E/G ratio of 3.81 and a beta of 0.81. The company has a quick ratio of 0.68, a current ratio of 0.76 and a debt-to-equity ratio of 1.57. The business has a fifty day simple moving average of $44.02 and a 200-day simple moving average of $40.37.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Thursday, August 1st. The pipeline company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.65 by $0.29. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.78 billion. During the same period in the prior year, the business posted $0.71 earnings per share. Sell-side analysts predict that TC Energy Co. will post 3.06 EPS for the current year.

TC Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be given a dividend of $0.702 per share. The ex-dividend date is Friday, September 27th. This represents a $2.81 dividend on an annualized basis and a yield of 6.08%. TC Energy’s payout ratio is presently 146.39%.

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.