TC Energy Corporation $TRP Holdings Lowered by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. trimmed its stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 79.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,205,999 shares of the pipeline company’s stock after selling 51,837,260 shares during the period. Goldman Sachs Group Inc. owned about 1.27% of TC Energy worth $726,462,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Annis Gardner Whiting Capital Advisors LLC acquired a new position in TC Energy during the fourth quarter valued at $25,000. Trust Co. of Vermont acquired a new position in TC Energy during the fourth quarter valued at $28,000. McIlrath & Eck LLC acquired a new position in TC Energy during the fourth quarter valued at $32,000. Westside Investment Management Inc. raised its position in TC Energy by 100.0% during the third quarter. Westside Investment Management Inc. now owns 594 shares of the pipeline company’s stock valued at $32,000 after buying an additional 297 shares during the period. Finally, SWAN Capital LLC acquired a new position in TC Energy during the third quarter valued at $40,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Stock Performance

Shares of TRP stock opened at $67.83 on Thursday. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.65 and a quick ratio of 0.57. TC Energy Corporation has a fifty-two week low of $46.29 and a fifty-two week high of $71.47. The stock’s 50-day moving average is $64.91 and its two-hundred day moving average is $60.37. The firm has a market cap of $67.83 billion, a P/E ratio of 29.44 and a beta of 0.66.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Friday, May 1st. The pipeline company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.02. TC Energy had a return on equity of 10.74% and a net margin of 22.22%.The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same period in the prior year, the firm posted $0.95 EPS. Analysts predict that TC Energy Corporation will post 2.75 earnings per share for the current fiscal year.

TC Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be given a $0.8775 dividend. This represents a $3.51 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend is Tuesday, June 30th. TC Energy’s dividend payout ratio is presently 109.57%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on TRP shares. Barclays reissued an “overweight” rating on shares of TC Energy in a research report on Monday, May 4th. Scotiabank reissued an “outperform” rating on shares of TC Energy in a research report on Monday, May 4th. Raymond James Financial raised TC Energy to a “hold” rating in a research report on Tuesday, February 17th. Weiss Ratings lowered TC Energy from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Finally, Royal Bank Of Canada upped their price target on TC Energy from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $78.50.

About TC Energy

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.