Massachusetts Financial Services Co. MA Sells 122,396 Shares of TC Energy Co. (NYSE:TRP)

Massachusetts Financial Services Co. MA lessened its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 2.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,957,851 shares of the pipeline company’s stock after selling 122,396 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.51% of TC Energy worth $238,423,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of TRP. Farmers & Merchants Investments Inc. bought a new position in TC Energy during the third quarter valued at approximately $27,000. MUFG Americas Holdings Corp bought a new position in shares of TC Energy in the third quarter valued at approximately $29,000. NEXT Financial Group Inc raised its position in shares of TC Energy by 25.5% in the third quarter. NEXT Financial Group Inc now owns 1,250 shares of the pipeline company’s stock valued at $60,000 after purchasing an additional 254 shares during the period. Archer Investment Corp raised its position in shares of TC Energy by 58.1% in the third quarter. Archer Investment Corp now owns 1,328 shares of the pipeline company’s stock valued at $64,000 after purchasing an additional 488 shares during the period. Finally, Huntington National Bank raised its position in shares of TC Energy by 428.7% in the third quarter. Huntington National Bank now owns 1,343 shares of the pipeline company’s stock valued at $65,000 after purchasing an additional 1,089 shares during the period. 69.71% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE TRP opened at $50.02 on Friday. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.51 and a quick ratio of 0.47. The stock’s fifty day moving average price is $47.64 and its two-hundred day moving average price is $48.95. TC Energy Co. has a one year low of $41.89 and a one year high of $55.34. The firm has a market cap of $49.06 billion, a price-to-earnings ratio of 32.91, a P/E/G ratio of 3.82 and a beta of 0.80.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Friday, November 5th. The pipeline company reported $0.79 EPS for the quarter, meeting analysts’ consensus estimates of $0.79. TC Energy had a return on equity of 15.17% and a net margin of 15.35%. The firm had revenue of $2.57 billion for the quarter, compared to analyst estimates of $3.51 billion. During the same period in the prior year, the firm posted $0.71 EPS. On average, equities analysts anticipate that TC Energy Co. will post 3.35 earnings per share for the current fiscal year.

The company also recently disclosed a dividend, which was paid on Friday, December 31st. Shareholders of record on Tuesday, November 30th were issued a $0.6986 dividend. This represents a yield of 5.63%. This is a positive change from TC Energy’s previous dividend of $0.58. The ex-dividend date was Monday, November 29th. TC Energy’s dividend payout ratio is currently 180.26%.

A number of equities analysts have recently commented on the stock. Raymond James began coverage on shares of TC Energy in a research report on Wednesday, December 22nd. They issued a “strong-buy” rating on the stock. CIBC decreased their price target on shares of TC Energy from C$72.00 to C$69.00 in a research note on Tuesday. The Goldman Sachs Group cut TC Energy from a “neutral” rating to a “sell” rating and set a $45.00 price target for the company. in a report on Thursday. National Bank Financial cut TC Energy from an “outperform” rating to a “sector perform” rating in a report on Monday, November 8th. Finally, TheStreet cut TC Energy from a “b” rating to a “c+” rating in a report on Tuesday, November 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $67.30.

TC Energy Company Profile

TC Energy Corporation engages in the provision of energy infrastructure services. It operates through the following business segments: Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, Power and Storage, and Corporate. The Canadian Natural Gas Pipelines segment consists of regulated natural gas pipelines.

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

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