Ausbil Investment Management Ltd Sells 21,233 Shares of TC Energy Corporation $TRP

Key Points

• Ausbil Investment Management Ltd trimmed its stake in TC Energy by 21.1% in Q4, selling 21,233 shares and ending the period with 79,286 shares worth $4.37 million (about 2.5% of the fund and its 15th largest holding).
• TC Energy increased its quarterly dividend to $0.8775 (annualized $3.51), implying a yield of roughly 5.5% with an ex-dividend date of March 31, although the payout ratio is high at 106.9%.
• Analysts are mixed: the consensus rating is Hold with an average target of $72.50 (seven Buys, six Holds, one Sell), and the company reported Q4 EPS of $0.70 (beat) while revenue missed estimates.

Ausbil Investment Management Ltd trimmed its position in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 21.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 79,286 shares of the pipeline company's stock after selling 21,233 shares during the quarter. TC Energy comprises about 2.5% of Ausbil Investment Management Ltd's investment portfolio, making the stock its 15th largest holding. Ausbil Investment Management Ltd's holdings in TC Energy were worth $4,372,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of TRP. Vanguard Group Inc. lifted its position in TC Energy by 2.0% during the third quarter. Vanguard Group Inc. now owns 46,821,474 shares of the pipeline company's stock valued at $2,545,777,000 after acquiring an additional 914,168 shares during the last quarter. Capital Research Global Investors boosted its stake in TC Energy by 2.5% in the third quarter. Capital Research Global Investors now owns 41,977,582 shares of the pipeline company's stock valued at $2,282,469,000 after acquiring an additional 1,041,864 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in TC Energy by 5.9% in the second quarter. Canada Pension Plan Investment Board now owns 20,986,748 shares of the pipeline company's stock worth $1,025,220,000 after purchasing an additional 1,178,190 shares during the last quarter. TD Asset Management Inc increased its position in shares of TC Energy by 2.9% during the third quarter. TD Asset Management Inc now owns 19,624,247 shares of the pipeline company's stock worth $1,067,246,000 after purchasing an additional 550,066 shares in the last quarter. Finally, Mackenzie Financial Corp increased its position in shares of TC Energy by 4.4% during the third quarter. Mackenzie Financial Corp now owns 13,351,862 shares of the pipeline company's stock worth $725,816,000 after purchasing an additional 557,794 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TRP has been the topic of several research analyst reports. Raymond James Financial upgraded TC Energy to a "hold" rating in a research note on Tuesday, February 17th. Barclays reissued an "overweight" rating on shares of TC Energy in a report on Friday, February 20th. The Goldman Sachs Group boosted their price target on TC Energy from $48.00 to $53.00 and gave the stock a "sell" rating in a research note on Wednesday, February 18th. Weiss Ratings restated a "buy (b-)" rating on shares of TC Energy in a report on Monday, December 29th. Finally, National Bank Financial lowered shares of TC Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 17th. Seven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, TC Energy has a consensus rating of "Hold" and an average target price of $72.50.

TC Energy Trading Down 0.6%

Shares of NYSE:TRP opened at $63.66 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.63 and a debt-to-equity ratio of 1.66. TC Energy Corporation has a 52-week low of $43.59 and a 52-week high of $65.57. The stock has a market cap of $66.29 billion, a price-to-earnings ratio of 27.39 and a beta of 0.72. The business has a 50-day moving average price of $61.31 and a 200-day moving average price of $56.14.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its earnings results on Friday, February 13th. The pipeline company reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.05. The firm had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.94 billion. TC Energy had a return on equity of 10.52% and a net margin of 23.04%.During the same quarter in the prior year, the firm earned $1.05 earnings per share. Equities analysts predict that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be issued a $0.8775 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This is a positive change from TC Energy's previous quarterly dividend of $0.85. This represents a $3.51 annualized dividend and a yield of 5.5%. TC Energy's dividend payout ratio is currently 106.90%.

TC Energy Company Profile

TC Energy NYSE: TRP is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company's principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.

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