Nicola Wealth Management LTD. Has $26.43 Million Holdings in TC Energy Co. (NYSE:TRP)

Nicola Wealth Management LTD. lessened its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 1.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 555,796 shares of the pipeline company’s stock after selling 10,800 shares during the period. TC Energy comprises approximately 2.4% of Nicola Wealth Management LTD.’s investment portfolio, making the stock its 5th largest holding. Nicola Wealth Management LTD. owned 0.05% of TC Energy worth $26,428,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of TRP. Metis Global Partners LLC raised its stake in TC Energy by 16.3% in the third quarter. Metis Global Partners LLC now owns 95,470 shares of the pipeline company’s stock valued at $4,538,000 after buying an additional 13,368 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in shares of TC Energy in the third quarter valued at about $215,000. Souders Financial Advisors increased its holdings in shares of TC Energy by 0.5% during the third quarter. Souders Financial Advisors now owns 85,817 shares of the pipeline company’s stock worth $4,081,000 after purchasing an additional 396 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in TC Energy by 32.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 43,392 shares of the pipeline company’s stock worth $2,063,000 after acquiring an additional 10,637 shares during the period. Finally, Tacita Capital Inc raised its stake in TC Energy by 4.7% in the third quarter. Tacita Capital Inc now owns 70,809 shares of the pipeline company’s stock valued at $3,370,000 after purchasing an additional 3,179 shares in the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. upgraded TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. Barclays raised TC Energy from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, July 17th. UBS Group raised shares of TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. Veritas upgraded TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. Finally, Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $48.50.

TC Energy Stock Up 0.3 %

NYSE TRP traded up $0.14 on Thursday, reaching $48.58. The company had a trading volume of 242,562 shares, compared to its average volume of 3,081,389. The company’s fifty day moving average is $46.78 and its 200 day moving average is $42.59. The stock has a market capitalization of $50.42 billion, a P/E ratio of 13.42, a P/E/G ratio of 4.06 and a beta of 0.81. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78. TC Energy Co. has a 52-week low of $31.83 and a 52-week high of $50.22.

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

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $0.822 dividend. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, December 31st. This represents a $3.29 annualized dividend and a yield of 6.77%. TC Energy’s payout ratio is currently 78.95%.

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.