TC Energy Co. (NYSE:TRP) Shares Sold by Park Place Capital Corp

Park Place Capital Corp cut its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 10.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,412 shares of the pipeline company’s stock after selling 1,147 shares during the quarter. Park Place Capital Corp’s holdings in TC Energy were worth $448,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Signaturefd LLC boosted its position in TC Energy by 1.6% in the 2nd quarter. Signaturefd LLC now owns 16,373 shares of the pipeline company’s stock valued at $621,000 after buying an additional 261 shares during the last quarter. New Hampshire Trust boosted its stake in shares of TC Energy by 3.8% during the 1st 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 last quarter. Windsor Advisory Group LLC grew its position in shares of TC Energy by 2.5% during the first quarter. Windsor Advisory Group LLC now owns 12,831 shares of the pipeline company’s stock worth $516,000 after buying an additional 316 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its stake 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 worth $604,000 after buying an additional 332 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC raised its holdings in 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 acquiring an additional 364 shares in the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

TC Energy Stock Performance

Shares of NYSE TRP traded down $0.37 during midday trading on Tuesday, hitting $44.49. The company’s stock had a trading volume of 517,135 shares, compared to its average volume of 2,948,405. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.68 and a current ratio of 0.76. TC Energy Co. has a 1-year low of $33.47 and a 1-year high of $48.42. The firm’s fifty day moving average price is $45.23 and its 200-day moving average price is $40.84. The firm has a market cap of $44.49 billion, a P/E ratio of 22.92, a P/E/G ratio of 3.57 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Thursday, August 1st. The pipeline company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.29. The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.78 billion. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. During the same period in the previous year, the firm posted $0.71 earnings per share. On average, sell-side analysts forecast that TC Energy Co. will post 3.08 EPS for the current fiscal year.

TC Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be paid a dividend of $0.702 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.81 dividend on an annualized basis and a yield of 6.31%. TC Energy’s payout ratio is currently 146.39%.

Analyst Ratings Changes

TRP has been the topic of a number of research analyst reports. UBS Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. Barclays raised shares of TC Energy from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, July 17th. Finally, StockNews.com initiated coverage on TC Energy in a research note on Saturday. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $43.50.

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.