TC Energy Co. (NYSE:TRP) Shares Sold by Tacita Capital Inc

Tacita Capital Inc cut its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 4.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 68,010 shares of the pipeline company’s stock after selling 2,799 shares during the period. TC Energy accounts for 2.3% of Tacita Capital Inc’s portfolio, making the stock its 15th biggest position. Tacita Capital Inc’s holdings in TC Energy were worth $3,162,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CIBC Asset Management Inc raised its stake in TC Energy by 8.4% in the 4th quarter. CIBC Asset Management Inc now owns 7,123,344 shares of the pipeline company’s stock worth $331,863,000 after acquiring an additional 551,980 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in TC Energy by 156.1% during 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 period. Geode Capital Management LLC grew its position in TC Energy by 8.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,712,660 shares of the pipeline company’s stock worth $225,890,000 after purchasing an additional 360,548 shares during the period. Merewether Investment Management LP grew its position 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 worth $194,776,000 after purchasing an additional 1,127,000 shares during the period. Finally, Kayne Anderson Capital Advisors LP grew its position 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 worth $152,072,000 after purchasing an additional 722,619 shares during the period. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on TRP shares. Veritas raised TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. StockNews.com upgraded TC Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. TD Securities initiated coverage on TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. BMO Capital Markets raised their price target on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. Finally, US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $62.00.

TC Energy Trading Up 0.2 %

TRP opened at $44.82 on Tuesday. 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 company’s 50 day simple moving average is $46.33 and its two-hundred day simple moving average is $46.72. TC Energy Co. has a 1-year low of $31.83 and a 1-year high of $50.37. The firm has a market capitalization of $46.57 billion, a price-to-earnings ratio of 13.83, a price-to-earnings-growth ratio of 4.34 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results 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 for the quarter, compared to analyst estimates of $2.42 billion. During the same period last year, the company posted $1.35 EPS. Analysts expect that TC Energy Co. will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 7.59%. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s payout ratio is presently 71.91%.

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.