TC Energy Co. (NYSE:TRP) Shares Sold by First Horizon Advisors Inc.

Posted by on Feb 15th, 2023

First Horizon Advisors Inc. reduced its position in shares of TC Energy Co. (NYSE:TRP – Get Rating) (TSE:TRP) by 30.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 738 shares of the pipeline company’s stock after selling 318 shares during the period. First Horizon Advisors Inc.’s holdings in TC Energy were worth $28,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in TRP. Healthcare of Ontario Pension Plan Trust Fund lifted its position in TC Energy by 161.4% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 5,930,618 shares of the pipeline company’s stock worth $307,196,000 after acquiring an additional 3,661,452 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its holdings in TC Energy by 176.7% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,646,798 shares of the pipeline company’s stock valued at $149,414,000 after buying an additional 1,690,298 shares during the period. Great West Life Assurance Co. Can purchased a new stake in TC Energy in the third quarter valued at approximately $51,518,000. Vanguard Group Inc. increased its stake in TC Energy by 3.1% during the first 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 during the last quarter. Finally, Mondrian Investment Partners LTD purchased a new position in TC Energy in the third quarter valued at approximately $43,320,000. 71.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TRP. Royal Bank of Canada reduced their price target on TC Energy from C$73.00 to C$65.00 in a research report on Thursday, February 2nd. Barclays decreased their price objective on shares of TC Energy from C$67.00 to C$65.00 in a report on Wednesday, October 19th. Wells Fargo & Company cut shares of TC Energy from an “equal weight” rating to an “underweight” rating in a report on Friday, December 16th. CIBC upgraded shares of TC Energy from a “neutral” rating to a “sector outperform” rating in a report on Wednesday, February 1st. Finally, TD Securities reduced their price target on shares of TC Energy from C$74.00 to C$71.00 in a research report on Thursday, February 2nd. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $65.38.

TC Energy Stock Performance

NYSE:TRP opened at $42.30 on Wednesday. TC Energy Co. has a twelve month low of $38.35 and a twelve month high of $59.38. The firm has a market capitalization of $43.06 billion, a PE ratio of 16.72, a price-to-earnings-growth ratio of 3.24 and a beta of 0.84. The company has a quick ratio of 0.47, a current ratio of 0.53 and a debt-to-equity ratio of 1.54. The stock’s 50-day simple moving average is $41.53 and its 200 day simple moving average is $44.60.

TC Energy Company Profile

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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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