Cardinal Capital Management Inc. Has $120.37 Million Stock Holdings in TC Energy Co. (NYSE:TRP)

Cardinal Capital Management Inc. trimmed its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 50.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,529,144 shares of the pipeline company’s stock after selling 2,539,614 shares during the period. TC Energy makes up approximately 5.0% of Cardinal Capital Management Inc.’s investment portfolio, making the stock its 7th largest holding. Cardinal Capital Management Inc. owned 0.25% of TC Energy worth $120,371,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of TRP. EdgeRock Capital LLC acquired a new position in shares of TC Energy during the 2nd quarter valued at $25,000. Creekmur Asset Management LLC bought a new stake in TC Energy during the fourth quarter worth approximately $27,000. Whittier Trust Co. of Nevada Inc. lifted its position in shares of TC Energy by 138.8% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 429 shares during the last quarter. Mather Group LLC. acquired a new position in shares of TC Energy in the 2nd quarter worth $33,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in TC Energy in the 2nd quarter worth about $51,000. 83.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on TRP shares. StockNews.com initiated coverage on shares of TC Energy in a research note on Saturday, October 5th. They set a “hold” rating for the company. UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. Barclays upgraded shares of TC Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, July 17th. Finally, Veritas raised shares of TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $43.50.

TC Energy Trading Up 1.4 %

TC Energy stock opened at $45.67 on Friday. TC Energy Co. has a one year low of $33.47 and a one year high of $48.42. The company’s fifty day moving average price is $45.44 and its two-hundred day moving average price is $40.97. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.76 and a quick ratio of 0.68. The company has a market capitalization of $47.39 billion, a price-to-earnings ratio of 18.72, a PEG ratio of 3.68 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.29. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same period last year, the business earned $0.71 EPS. On average, analysts forecast that TC Energy Co. will post 3.06 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be given a dividend of $0.702 per share. This represents a $2.81 dividend on an annualized basis and a yield of 6.15%. The ex-dividend date of this dividend is Friday, September 27th. TC Energy’s dividend payout ratio is 116.80%.

TC Energy Company 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.