TC Energy Co. (NYSE:TRP) Position Lessened by Nicola Wealth Management LTD.

Nicola Wealth Management LTD. decreased its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 58.2% during the 4th quarter, HoldingsChannel reports. The firm owned 232,196 shares of the pipeline company’s stock after selling 323,600 shares during the period. Nicola Wealth Management LTD.’s holdings in TC Energy were worth $10,804,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in TRP. Connor Clark & Lunn Investment Management Ltd. lifted 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 worth $321,778,000 after purchasing an additional 4,126,801 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new stake in TC Energy during the 3rd quarter valued at $73,162,000. Merewether Investment Management LP raised its stake in TC Energy by 37.9% during 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 acquiring an additional 1,127,000 shares in the last quarter. Duff & Phelps Investment Management Co. raised its stake in TC Energy by 70.7% during 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 acquiring an additional 730,415 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP raised its stake in TC Energy by 29.2% during 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 acquiring an additional 722,619 shares in the last quarter. Institutional investors own 83.13% of the company’s stock.

TC Energy Stock Up 0.2 %

Shares of TRP stock opened at $44.82 on Tuesday. TC Energy Co. has a 1 year low of $31.83 and a 1 year high of $50.37. The stock has a market cap of $46.57 billion, a PE ratio of 13.83, a price-to-earnings-growth ratio of 4.34 and a beta of 0.81. The business’s fifty day moving average is $46.33 and its 200-day moving average is $46.72. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55.

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

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors 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 7.59%. This is a boost from TC Energy’s previous quarterly dividend of $0.82. The ex-dividend date is Monday, March 31st. TC Energy’s payout ratio is presently 71.91%.

Analyst Ratings Changes

TRP has been the topic of several recent analyst reports. BMO Capital Markets lifted their target price on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. TD Securities initiated coverage on TC Energy in a research note on Wednesday, January 15th. They set a “buy” rating on the stock. Veritas raised TC Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. StockNews.com raised TC Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Finally, Royal Bank of Canada lifted their price target on TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, TC Energy has an average rating of “Moderate Buy” and a consensus price target of $62.00.

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.