LPL Financial LLC reduced its position in TC Energy Co. (NYSE:TRP – Free Report) (TSE:TRP) by 4.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 830,929 shares of the pipeline company’s stock after selling 35,650 shares during the period. LPL Financial LLC owned 0.08% of TC Energy worth $31,492,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TRP. Murchinson Ltd. bought a new stake in TC Energy in the 1st quarter valued at about $506,485,000. Capital Research Global Investors raised its stake in TC Energy by 23.7% in the 4th quarter. Capital Research Global Investors now owns 55,677,989 shares of the pipeline company’s stock valued at $2,174,931,000 after acquiring an additional 10,654,993 shares during the period. Norges Bank bought a new stake in TC Energy in the 4th quarter valued at about $341,262,000. Healthcare of Ontario Pension Plan Trust Fund raised its stake in TC Energy by 94.9% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 17,124,818 shares of the pipeline company’s stock valued at $688,534,000 after acquiring an additional 8,339,800 shares during the period. Finally, Capital International Investors raised its stake in TC Energy by 11.8% in the 4th quarter. Capital International Investors now owns 55,161,245 shares of the pipeline company’s stock valued at $2,155,419,000 after acquiring an additional 5,822,056 shares during the period. 83.13% of the stock is currently owned by institutional investors.
TC Energy Stock Up 0.4 %
TRP stock opened at $46.75 on Tuesday. 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 firm has a market capitalization of $48.50 billion, a PE ratio of 24.10, a PEG ratio of 3.76 and a beta of 0.81. TC Energy Co. has a twelve month low of $32.51 and a twelve month high of $47.38. The stock has a 50-day simple moving average of $43.42 and a two-hundred day simple moving average of $40.20.
TC Energy Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be issued a dividend of $0.702 per share. This represents a $2.81 annualized dividend and a dividend yield of 6.01%. The ex-dividend date of this dividend is Friday, September 27th. TC Energy’s payout ratio is 144.85%.
Wall Street Analysts Forecast Growth
Separately, Barclays raised TC Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $43.50.
Get Our Latest Stock Analysis on TC Energy
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.
Further Reading
- Five stocks we like better than TC Energy
- Insider Buying Explained: What Investors Need to Know
- Palo Alto Analysts Drive it to New Highs: 50% Upside Is Possible
- Uptrend Stocks Explained: Learn How to Trade Using Uptrends
- Roblox’s Growth Beyond Kids: Stock Set for Major Moves
- How to invest in marijuana stocks in 7 stepsĀ
- 5 Oversold Stocks to Buy Right Now
Want to see what other hedge funds are holding TRP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TC Energy Co. (NYSE:TRP – Free Report) (TSE:TRP).
Receive News & Ratings for TC Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TC Energy and related companies with MarketBeat.com's FREE daily email newsletter.