TC Energy Co. (NYSE:TRP) Shares Sold by AGF Management Ltd.

AGF Management Ltd. cut its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 5.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 857,035 shares of the pipeline company’s stock after selling 53,711 shares during the period. AGF Management Ltd.’s holdings in TC Energy were worth $39,878,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. NTV Asset Management LLC boosted its stake in shares of TC Energy by 4.0% in the fourth quarter. NTV Asset Management LLC now owns 6,189 shares of the pipeline company’s stock valued at $288,000 after purchasing an additional 239 shares during the period. Captrust Financial Advisors boosted its stake in shares of TC Energy by 1.3% in the third quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock valued at $871,000 after purchasing an additional 242 shares during the period. Lee Financial Co boosted its stake in shares of TC Energy by 3.1% in the fourth quarter. Lee Financial Co now owns 8,185 shares of the pipeline company’s stock valued at $381,000 after purchasing an additional 246 shares during the period. IFP Advisors Inc boosted its stake in shares of TC Energy by 7.0% in the fourth quarter. IFP Advisors Inc now owns 3,809 shares of the pipeline company’s stock valued at $177,000 after purchasing an additional 249 shares during the period. Finally, Prospera Financial Services Inc boosted its stake in shares of TC Energy by 4.8% in the third quarter. Prospera Financial Services Inc now owns 5,754 shares of the pipeline company’s stock valued at $274,000 after purchasing an additional 262 shares during the period. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Price Performance

Shares of NYSE:TRP opened at $46.18 on Tuesday. TC Energy Co. has a 12 month low of $34.95 and a 12 month high of $50.37. The firm has a market capitalization of $47.99 billion, a price-to-earnings ratio of 14.25, a price-to-earnings-growth ratio of 4.34 and a beta of 0.83. The business’s 50 day simple moving average is $46.27 and its 200-day simple moving average is $46.77. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.54. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. The firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.42 billion. During the same period last year, the firm posted $1.35 EPS. As a group, equities analysts forecast that TC Energy Co. will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.85 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.40 dividend on an annualized basis and a yield of 7.36%. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s dividend payout ratio is presently 72.53%.

Analysts Set New Price Targets

Several analysts recently weighed in on TRP shares. StockNews.com cut shares of TC Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. TD Securities assumed coverage on shares of TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating for the company. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. Veritas upgraded TC Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 18th. Finally, BMO Capital Markets lifted their target price on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, TC Energy presently has an average rating of “Moderate Buy” and an average price target of $62.00.

About TC Energy

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.