Choreo LLC Sells 471 Shares of TC Energy Co. (NYSE:TRP)

Choreo LLC lowered its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 9.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,765 shares of the pipeline company’s stock after selling 471 shares during the period. Choreo LLC’s holdings in TC Energy were worth $222,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. boosted its stake in TC Energy by 156.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company’s stock valued at $321,778,000 after purchasing an additional 4,126,801 shares during the period. Geode Capital Management LLC raised its stake in TC Energy by 8.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,712,660 shares of the pipeline company’s stock valued at $225,890,000 after purchasing an additional 360,548 shares during the last quarter. Merewether Investment Management LP grew its position in TC Energy by 37.9% in the 3rd quarter. Merewether Investment Management LP now owns 4,097,600 shares of the pipeline company’s stock worth $194,776,000 after purchasing an additional 1,127,000 shares during the last quarter. Kayne Anderson Capital Advisors LP increased its stake in TC Energy by 29.2% during the third quarter. Kayne Anderson Capital Advisors LP now owns 3,198,140 shares of the pipeline company’s stock valued at $152,072,000 after acquiring an additional 722,619 shares during the period. Finally, Swiss National Bank raised its holdings in TC Energy by 0.8% in the 3rd quarter. Swiss National Bank now owns 3,137,901 shares of the pipeline company’s stock valued at $149,401,000 after acquiring an additional 24,800 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TRP. BMO Capital Markets upped their target price on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. US Capital Advisors raised TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. StockNews.com began coverage on shares of TC Energy in a research report on Wednesday, December 4th. They issued a “hold” rating on the stock. TD Securities assumed coverage on shares of TC Energy in a report on Wednesday, January 15th. They set a “buy” rating for the company. Finally, The Goldman Sachs Group lifted their price objective on TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research report on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $56.00.

TC Energy Price Performance

NYSE TRP opened at $46.05 on Friday. The stock has a market cap of $47.85 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 4.45 and a beta of 0.81. TC Energy Co. has a 52-week low of $31.83 and a 52-week high of $50.37. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31. The business has a 50 day simple moving average of $46.61 and a 200 day simple moving average of $46.52.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.54. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. The company had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.42 billion. During the same period last year, the business earned $1.35 EPS. Analysts anticipate that TC Energy Co. will post 2.92 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.38%. This is a boost from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s dividend payout ratio is presently 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.