Greenleaf Trust Has $599,000 Holdings in TC Energy Co. (NYSE:TRP)

Greenleaf Trust cut its holdings in TC Energy Co. (NYSE:TRPGet Rating) (TSE:TRP) by 3.9% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 11,568 shares of the pipeline company’s stock after selling 469 shares during the quarter. Greenleaf Trust’s holdings in TC Energy were worth $599,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Capital World Investors lifted its stake in TC Energy by 66.3% in the first quarter. Capital World Investors now owns 56,475,561 shares of the pipeline company’s stock valued at $3,185,453,000 after buying an additional 22,507,712 shares during the period. Capital Research Global Investors grew its stake in shares of TC Energy by 3.1% in the 1st quarter. Capital Research Global Investors now owns 40,904,876 shares of the pipeline company’s stock worth $2,307,088,000 after acquiring an additional 1,225,016 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of TC Energy by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 33,256,822 shares of the pipeline company’s stock worth $1,876,349,000 after acquiring an additional 993,965 shares in the last quarter. Bank of Nova Scotia grew its stake in shares of TC Energy by 32.9% in the 1st quarter. Bank of Nova Scotia now owns 22,350,592 shares of the pipeline company’s stock worth $1,260,463,000 after acquiring an additional 5,528,468 shares in the last quarter. Finally, Mackenzie Financial Corp grew its stake in shares of TC Energy by 2.6% in the 2nd quarter. Mackenzie Financial Corp now owns 16,739,159 shares of the pipeline company’s stock worth $867,128,000 after acquiring an additional 418,637 shares in the last quarter. 70.14% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TRP. StockNews.com began coverage on shares of TC Energy in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. TD Securities upped their price objective on shares of TC Energy from C$75.00 to C$76.00 in a research report on Thursday, August 11th. National Bank Financial upped their price objective on shares of TC Energy from C$56.00 to C$58.00 in a research report on Friday, November 11th. BMO Capital Markets reduced their price objective on shares of TC Energy from C$76.00 to C$72.00 in a research report on Thursday, August 11th. Finally, Barclays reduced their target price on shares of TC Energy from C$67.00 to C$65.00 in a research report on Wednesday, October 19th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $67.00.

TC Energy Stock Up 0.7 %

TRP opened at $48.81 on Thursday. The company has a 50 day moving average of $44.20 and a 200 day moving average of $49.69. The company has a market cap of $49.39 billion, a PE ratio of 19.29, a price-to-earnings-growth ratio of 3.83 and a beta of 0.80. TC Energy Co. has a 12 month low of $39.11 and a 12 month high of $59.38. The company has a current ratio of 0.53, a quick ratio of 0.47 and a debt-to-equity ratio of 1.54.

TC Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 31st. Investors of record on Friday, December 30th will be issued a $0.661 dividend. This represents a $2.64 annualized dividend and a yield of 5.42%. The ex-dividend date of this dividend is Thursday, December 29th. TC Energy’s dividend payout ratio (DPR) is presently 103.95%.

TC Energy Profile

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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 Storage. The company builds and operates 93,300 km network 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.

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Institutional Ownership by Quarter for TC Energy (NYSE:TRP)

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