Northwestern Mutual Wealth Management Co. Reduces Position in TC Energy Co. (NYSE:TRP)

Northwestern Mutual Wealth Management Co. decreased its stake in shares of TC Energy Co. (NYSE:TRPGet Rating) (TSE:TRP) by 3.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,931 shares of the pipeline company’s stock after selling 355 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in TC Energy were worth $416,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. MV Capital Management Inc. increased its position in TC Energy by 38.1% during the fourth quarter. MV Capital Management Inc. now owns 725 shares of the pipeline company’s stock worth $34,000 after buying an additional 200 shares in the last quarter. Fulton Bank N.A. increased its position in TC Energy by 1.3% during the fourth quarter. Fulton Bank N.A. now owns 27,156 shares of the pipeline company’s stock worth $1,264,000 after buying an additional 343 shares in the last quarter. Pinnacle Financial Partners Inc. boosted its holdings in shares of TC Energy by 3.7% during the fourth quarter. Pinnacle Financial Partners Inc. now owns 9,711 shares of the pipeline company’s stock worth $452,000 after purchasing an additional 343 shares during the last quarter. Roosevelt Investment Group LLC boosted its holdings in shares of TC Energy by 7.6% during the fourth quarter. Roosevelt Investment Group LLC now owns 4,992 shares of the pipeline company’s stock worth $232,000 after purchasing an additional 354 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. boosted its holdings in shares of TC Energy by 6.1% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 6,550 shares of the pipeline company’s stock worth $305,000 after purchasing an additional 378 shares during the last quarter. 68.61% of the stock is owned by institutional investors.

Several equities research analysts have recently issued reports on TRP shares. Scotiabank raised their price objective on TC Energy from C$72.00 to C$78.00 in a report on Wednesday, April 13th. Industrial Alliance Securities upgraded TC Energy from a “hold” rating to a “buy” rating and set a C$74.00 price objective on the stock in a report on Monday, April 4th. StockNews.com started coverage on TC Energy in a report on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research cut TC Energy from a “buy” rating to a “hold” rating and set a $61.00 price objective on the stock. in a report on Monday, April 4th. Finally, The Goldman Sachs Group cut TC Energy from a “neutral” rating to a “sell” rating and set a $45.00 target price on the stock. in a report on Thursday, January 13th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $67.25.

Shares of TRP opened at $56.90 on Friday. The stock’s 50-day moving average is $55.67 and its two-hundred day moving average is $51.78. The stock has a market cap of $55.83 billion, a PE ratio of 37.93, a P/E/G ratio of 4.22 and a beta of 0.71. TC Energy Co. has a 12 month low of $44.77 and a 12 month high of $59.06. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.57 and a quick ratio of 0.51.

TC Energy (NYSE:TRPGet Rating) (TSE:TRP) last issued its quarterly earnings data on Tuesday, February 15th. The pipeline company reported $0.84 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.84. The company had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $3.57 billion. TC Energy had a return on equity of 14.77% and a net margin of 15.09%. During the same quarter in the previous year, the firm posted $0.88 earnings per share. On average, research analysts anticipate that TC Energy Co. will post 3.41 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 29th. Stockholders of record on Thursday, March 31st will be given a dividend of $0.708 per share. This represents a $2.83 dividend on an annualized basis and a dividend yield of 4.98%. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Wednesday, March 30th. TC Energy’s payout ratio is presently 192.00%.

About TC Energy (Get Rating)

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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