TC Energy Co. (NYSE:TRP) Position Cut by Burgundy Asset Management Ltd.

Burgundy Asset Management Ltd. trimmed its holdings in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 27.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 126,025 shares of the pipeline company's stock after selling 48,169 shares during the period. Burgundy Asset Management Ltd.'s holdings in TC Energy were worth $5,867,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in shares of TC Energy in the fourth quarter valued at approximately $31,000. Synergy Investment Management LLC purchased a new position in TC Energy in the fourth quarter valued at $36,000. Millstone Evans Group LLC purchased a new stake in TC Energy during the 4th quarter worth about $41,000. First Command Advisory Services Inc. purchased a new position in shares of TC Energy in the 4th quarter valued at about $46,000. Finally, UMB Bank n.a. acquired a new position in shares of TC Energy during the fourth quarter worth about $47,000. Institutional investors and hedge funds own 83.13% of the company's stock.

Analysts Set New Price Targets

TRP has been the subject of several recent analyst reports. CIBC upgraded shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a research report on Friday, May 2nd. US Capital Advisors upgraded TC Energy from a "hold" rating to a "moderate buy" rating in a report on Monday, February 3rd. Citigroup assumed coverage on TC Energy in a research note on Friday, April 4th. They set a "neutral" rating on the stock. Wall Street Zen cut shares of TC Energy from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Finally, Royal Bank of Canada increased their price target on TC Energy from $71.00 to $74.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $62.00.

TC Energy Trading Down 0.2%

Shares of TRP traded down $0.11 during trading hours on Wednesday, hitting $49.98. The stock had a trading volume of 430,987 shares, compared to its average volume of 2,497,836. The company's fifty day simple moving average is $48.76 and its 200 day simple moving average is $47.59. TC Energy Co. has a 12-month low of $37.07 and a 12-month high of $51.34. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55. The firm has a market cap of $51.96 billion, a P/E ratio of 15.42, a P/E/G ratio of 4.34 and a beta of 0.78.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its quarterly earnings results on Thursday, May 1st. The pipeline company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.04). TC Energy had a net margin of 29.40% and a return on equity of 12.12%. The company had revenue of $1.78 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same quarter in the prior year, the company posted $1.02 earnings per share. Equities research analysts forecast that TC Energy Co. will post 2.63 EPS for the current fiscal year.

TC Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be paid a $0.6142 dividend. The ex-dividend date is Monday, June 30th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 4.92%. TC Energy's dividend payout ratio (DPR) is presently 77.89%.

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.