Baxter Bros Inc. Sells 6,000 Shares of TC Energy Co. (NYSE:TRP)

Baxter Bros Inc. decreased its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 7.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 77,930 shares of the pipeline company’s stock after selling 6,000 shares during the period. Baxter Bros Inc.’s holdings in TC Energy were worth $3,046,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of TC Energy by 3.5% during the third quarter. Vanguard Group Inc. now owns 39,625,940 shares of the pipeline company’s stock worth $1,363,529,000 after buying an additional 1,344,000 shares during the last quarter. Canada Pension Plan Investment Board raised its position in TC Energy by 18.0% in the third quarter. Canada Pension Plan Investment Board now owns 24,574,983 shares of the pipeline company’s stock valued at $849,037,000 after purchasing an additional 3,740,495 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of TC Energy by 70.5% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 16,540,018 shares of the pipeline company’s stock valued at $569,058,000 after purchasing an additional 6,840,000 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of TC Energy by 3.5% during the third quarter. Legal & General Group Plc now owns 9,725,714 shares of the pipeline company’s stock worth $335,992,000 after purchasing an additional 328,795 shares during the last quarter. Finally, CIBC Asset Management Inc increased its stake in shares of TC Energy by 24.8% in the third quarter. CIBC Asset Management Inc now owns 9,567,604 shares of the pipeline company’s stock valued at $330,044,000 after buying an additional 1,901,838 shares during the period. Institutional investors and hedge funds own 83.13% of the company’s stock.

Analyst Ratings Changes

TRP has been the topic of several recent research reports. Jefferies Financial Group assumed coverage on shares of TC Energy in a research report on Tuesday, February 27th. They set a “hold” rating on the stock. The Goldman Sachs Group lifted their price target on shares of TC Energy from $29.00 to $32.00 and gave the stock a “sell” rating in a report on Friday, January 26th. Stifel Nicolaus started coverage on TC Energy in a report on Thursday, January 18th. They issued a “buy” rating for the company. Barclays lifted their target price on TC Energy from $53.00 to $55.00 and gave the stock an “equal weight” rating in a report on Monday, January 29th. Finally, TheStreet raised TC Energy from a “c+” rating to a “b-” rating in a research note on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $48.83.

TC Energy Trading Up 3.3 %

Shares of NYSE:TRP traded up $1.21 during mid-day trading on Friday, hitting $37.62. The company had a trading volume of 3,893,017 shares, compared to its average volume of 4,264,774. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.96 and a quick ratio of 0.88. TC Energy Co. has a one year low of $32.51 and a one year high of $42.49. The firm has a fifty day moving average price of $38.49 and a 200 day moving average price of $38.09. The company has a market capitalization of $37.62 billion, a PE ratio of 19.39, a price-to-earnings-growth ratio of 3.24 and a beta of 0.76.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Friday, February 16th. The pipeline company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.79 by $0.20. TC Energy had a return on equity of 18.60% and a net margin of 18.25%. The company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.93 billion. As a group, research analysts forecast that TC Energy Co. will post 2.9 EPS for the current year.

TC Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.55%. The ex-dividend date of this dividend is Friday, June 28th. TC Energy’s payout ratio is 145.88%.

TC Energy Company 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.