Northwest & Ethical Investments L.P. Cuts Stock Holdings in TC Energy Co. (NYSE:TRP)

Northwest & Ethical Investments L.P. reduced its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 49.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 222,991 shares of the pipeline company’s stock after selling 217,539 shares during the period. Northwest & Ethical Investments L.P.’s holdings in TC Energy were worth $10,374,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new position in TC Energy during the fourth quarter worth about $31,000. Versant Capital Management Inc purchased a new position in TC Energy during the fourth quarter worth about $33,000. Synergy Investment Management LLC purchased a new position in TC Energy during the fourth quarter worth about $36,000. Point72 DIFC Ltd purchased a new position in TC Energy during the third quarter worth about $39,000. Finally, First Command Advisory Services Inc. purchased a new position in TC Energy during the fourth quarter worth about $46,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. BMO Capital Markets increased 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. US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. TD Securities assumed coverage on shares of TC Energy in a report on Wednesday, January 15th. They issued a “buy” rating for the company. StockNews.com cut shares of TC Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Finally, Veritas raised shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $62.00.

TC Energy Trading Up 1.2 %

Shares of TRP opened at $48.30 on Thursday. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23. The firm has a 50 day simple moving average of $46.27 and a 200-day simple moving average of $46.84. TC Energy Co. has a 1-year low of $34.95 and a 1-year high of $50.37. The stock has a market cap of $50.19 billion, a price-to-earnings ratio of 14.91, a price-to-earnings-growth ratio of 4.34 and a beta of 0.83.

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

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.85 per share. The ex-dividend date is Monday, March 31st. This represents a $3.40 dividend on an annualized basis and a yield of 7.04%. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s dividend payout ratio (DPR) is 72.53%.

TC Energy Profile

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.