DORCHESTER WEALTH MANAGEMENT Co Reduces Position in TC Energy Co. (NYSE:TRP)

DORCHESTER WEALTH MANAGEMENT Co cut its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 1.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 265,181 shares of the pipeline company’s stock after selling 3,640 shares during the period. TC Energy accounts for 2.4% of DORCHESTER WEALTH MANAGEMENT Co’s investment portfolio, making the stock its 12th largest holding. DORCHESTER WEALTH MANAGEMENT Co’s holdings in TC Energy were worth $12,157,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of TRP. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of TC Energy by 156.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company’s stock valued at $321,778,000 after buying an additional 4,126,801 shares in the last quarter. Zurich Insurance Group Ltd FI acquired a new position in shares of TC Energy in the 3rd quarter valued at $73,162,000. Merewether Investment Management LP boosted its holdings in shares of TC Energy by 37.9% in the 3rd quarter. Merewether Investment Management LP now owns 4,097,600 shares of the pipeline company’s stock valued at $194,776,000 after buying an additional 1,127,000 shares in the last quarter. Duff & Phelps Investment Management Co. boosted its holdings in shares of TC Energy by 70.7% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,763,915 shares of the pipeline company’s stock valued at $83,874,000 after buying an additional 730,415 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP boosted its holdings in shares of TC Energy by 29.2% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 3,198,140 shares of the pipeline company’s stock valued at $152,072,000 after buying an additional 722,619 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Stock Down 1.3 %

TRP stock opened at $44.94 on Friday. TC Energy Co. has a one year low of $31.83 and a one year high of $50.37. The stock has a market capitalization of $46.70 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 4.34 and a beta of 0.81. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55. The company has a fifty day moving average of $46.48 and a 200-day moving average of $46.66.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Friday, February 14th. The pipeline company reported $1.05 EPS for the quarter, topping 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 company had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.42 billion. During the same quarter last year, the business earned $1.35 EPS. As a group, analysts expect that TC Energy Co. will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.57%. The ex-dividend date is Monday, March 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s dividend payout ratio (DPR) is currently 70.68%.

Analyst Ratings Changes

A number of brokerages recently weighed in on TRP. StockNews.com upgraded shares of TC Energy from a “hold” rating to a “buy” rating in a research note on Wednesday. Veritas upgraded shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. TD Securities began coverage on shares of TC Energy in a research note on Wednesday, January 15th. They set a “buy” rating for the company. BMO Capital Markets increased their price target on shares of TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 20th. Finally, Royal Bank of Canada increased their price target on shares of TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.