TC Energy Co. (NYSE:TRP) is Cardinal Capital Management Inc.’s 10th Largest Position

Cardinal Capital Management Inc. reduced its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 1.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,499,532 shares of the pipeline company’s stock after selling 29,612 shares during the quarter. TC Energy accounts for 3.9% of Cardinal Capital Management Inc.’s investment portfolio, making the stock its 10th largest position. Cardinal Capital Management Inc.’s holdings in TC Energy were worth $116,223,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the stock. Fortitude Family Office LLC acquired a new stake in TC Energy in the third quarter valued at approximately $28,000. Blue Trust Inc. lifted its position in shares of TC Energy by 72.0% during the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 267 shares during the last quarter. Versant Capital Management Inc acquired a new position in shares of TC Energy during the fourth quarter worth $33,000. Point72 DIFC Ltd purchased a new position in TC Energy in the third quarter valued at $39,000. Finally, UMB Bank n.a. acquired a new stake in TC Energy in the fourth quarter valued at $47,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Price Performance

Shares of NYSE TRP opened at $47.19 on Thursday. The company has a market cap of $49.04 billion, a PE ratio of 13.07, a P/E/G ratio of 4.48 and a beta of 0.82. The stock has a fifty day moving average price of $47.50 and a 200 day moving average price of $45.81. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23. TC Energy Co. has a 1-year low of $31.83 and a 1-year high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. The firm had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.83 billion. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. Sell-side analysts forecast that TC Energy Co. will post 2.95 EPS for the current year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.822 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from TC Energy’s previous quarterly dividend of $0.70. This represents a $3.29 dividend on an annualized basis and a yield of 6.97%. TC Energy’s dividend payout ratio (DPR) is 63.43%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group boosted their target price on TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research note on Monday, October 21st. Veritas upgraded shares of TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. TD Securities started coverage on shares of TC Energy in a research report on Wednesday, January 15th. They issued a “buy” rating for the company. Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. Finally, StockNews.com initiated coverage on TC Energy in a report on Wednesday, December 4th. They issued a “hold” rating for the company. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $55.67.

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.