Moors & Cabot Inc. Sells 233 Shares of TC Energy Co. (NYSE:TRP)

Moors & Cabot Inc. trimmed its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 1.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,221 shares of the pipeline company’s stock after selling 233 shares during the period. Moors & Cabot Inc.’s holdings in TC Energy were worth $842,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. EdgeRock Capital LLC acquired a new stake in TC Energy in the second quarter worth $25,000. Creekmur Asset Management LLC acquired a new stake in TC Energy during the 4th quarter worth $27,000. Whittier Trust Co. of Nevada Inc. raised its stake in TC Energy by 138.8% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock worth $28,000 after buying an additional 429 shares during the period. OLD Point Trust & Financial Services N A acquired a new position in TC Energy in the fourth quarter valued at about $31,000. Finally, Mather Group LLC. bought a new stake in shares of TC Energy in the second quarter worth about $33,000. Institutional investors own 83.13% of the company’s stock.

TC Energy Stock Down 0.8 %

TRP stock opened at $46.02 on Thursday. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.76 and a quick ratio of 0.68. The stock has a market capitalization of $46.02 billion, a P/E ratio of 23.72, a P/E/G ratio of 3.81 and a beta of 0.81. TC Energy Co. has a fifty-two week low of $32.51 and a fifty-two week high of $47.38. The business has a 50-day moving average of $43.75 and a 200-day moving average of $40.29.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.29. The company had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.78 billion. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. During the same period last year, the business earned $0.71 EPS. On average, sell-side analysts anticipate that TC Energy Co. will post 3.06 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The firm also recently declared 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 annualized dividend and a yield of 6.10%. TC Energy’s dividend payout ratio (DPR) is presently 146.39%.

Analyst Upgrades and Downgrades

TRP has been the topic of several recent analyst reports. Barclays upgraded TC Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, July 17th. StockNews.com assumed coverage on shares of TC Energy in a research note on Thursday. They issued a “hold” rating on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, TC Energy has an average rating of “Hold” and an average target price of $43.50.

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.