The Manufacturers Life Insurance Company Sells 10,138 Shares of TC Energy Co. (NYSE:TRP)

The Manufacturers Life Insurance Company trimmed its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 0.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,666,652 shares of the pipeline company’s stock after selling 10,138 shares during the period. The Manufacturers Life Insurance Company’s holdings in TC Energy were worth $126,845,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Signaturefd LLC grew its holdings in TC Energy by 1.6% during the 2nd quarter. Signaturefd LLC now owns 16,373 shares of the pipeline company’s stock valued at $621,000 after purchasing an additional 261 shares during the last quarter. Prospera Financial Services Inc grew its holdings in TC Energy by 4.8% during the 3rd 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 last quarter. First Horizon Advisors Inc. grew its holdings in TC Energy by 8.1% during the 3rd quarter. First Horizon Advisors Inc. now owns 3,505 shares of the pipeline company’s stock valued at $167,000 after purchasing an additional 264 shares during the last quarter. Blue Trust Inc. grew its holdings in TC Energy by 72.0% during the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 267 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. grew its holdings in TC Energy by 4.5% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 9,175 shares of the pipeline company’s stock valued at $436,000 after purchasing an additional 393 shares during the last quarter. 83.13% of the stock is currently owned by institutional investors.

TC Energy Price Performance

Shares of TRP opened at $48.74 on Wednesday. The company has a 50 day moving average price of $47.32 and a 200-day moving average price of $43.41. TC Energy Co. has a fifty-two week low of $31.83 and a fifty-two week high of $50.37. The stock has a market capitalization of $50.59 billion, a PE ratio of 13.50, a PEG ratio of 4.12 and a beta of 0.81. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.06. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. The firm had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.83 billion. Equities analysts predict that TC Energy Co. will post 2.98 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.822 per share. This represents a $3.29 annualized dividend and a dividend yield of 6.75%. The ex-dividend date is Tuesday, December 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s payout ratio is 78.95%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Morgan Stanley raised shares of TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. UBS Group raised shares of TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. BMO Capital Markets boosted their price objective on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. raised shares of TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. Finally, Veritas raised shares of TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $55.67.

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.