Lincluden Management Ltd. Trims Stock Holdings in TC Energy Corporation $TRP

Key Points

• Lincluden Management Ltd. trimmed its position in TC Energy by 3.9% in Q4 to 793,599 shares (about $43.66M), making TRP its 5th-largest holding and 4.7% of the fund's portfolio.
• Dividend and results: TC Energy raised its quarterly dividend to $0.8775 (annualized $3.51, yield ~5.6%) with an ex-dividend date of March 31, but the payout ratio is high at ~108.6%; last quarter the company beat EPS ($0.70 vs. $0.65) while missing revenue estimates.
• Analyst and institutional backdrop: The stock has a consensus rating of "Moderate Buy" with an average price target of $77 amid mixed analyst moves (RBC lifted its target to $92 while National Bank cut to hold), and institutional ownership is about 83% with several large funds markedly increasing positions.

Lincluden Management Ltd. reduced its holdings in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 3.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 793,599 shares of the pipeline company's stock after selling 32,307 shares during the quarter. TC Energy makes up 4.7% of Lincluden Management Ltd.'s portfolio, making the stock its 5th biggest position. Lincluden Management Ltd. owned approximately 0.08% of TC Energy worth $43,656,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of TRP. American Century Companies Inc. lifted its position in shares of TC Energy by 514.5% in the 3rd quarter. American Century Companies Inc. now owns 6,491,799 shares of the pipeline company's stock worth $352,976,000 after buying an additional 5,435,310 shares during the last quarter. Nicola Wealth Management LTD. lifted its position in shares of TC Energy by 793.7% in the 3rd quarter. Nicola Wealth Management LTD. now owns 2,302,996 shares of the pipeline company's stock worth $125,229,000 after buying an additional 2,045,300 shares during the last quarter. BROOKFIELD Corp ON bought a new position in shares of TC Energy in the 2nd quarter worth about $78,443,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of TC Energy by 32.8% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,496,410 shares of the pipeline company's stock worth $244,650,000 after buying an additional 1,109,897 shares during the last quarter. Finally, Capital Research Global Investors lifted its position in shares of TC Energy by 2.5% in the 3rd quarter. Capital Research Global Investors now owns 41,977,582 shares of the pipeline company's stock worth $2,282,469,000 after buying an additional 1,041,864 shares during the last quarter. 83.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TRP has been the topic of a number of analyst reports. National Bank Financial cut shares of TC Energy from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 17th. Citigroup reaffirmed a "neutral" rating on shares of TC Energy in a report on Thursday, February 19th. Royal Bank Of Canada increased their price objective on shares of TC Energy from $84.00 to $92.00 and gave the stock an "outperform" rating in a report on Tuesday, February 17th. Barclays reaffirmed an "overweight" rating on shares of TC Energy in a report on Friday, February 20th. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of TC Energy in a report on Tuesday, February 17th. Eight investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $77.00.

TC Energy Stock Up 1.7%

TC Energy stock opened at $62.99 on Wednesday. The stock has a market cap of $65.62 billion, a price-to-earnings ratio of 27.10 and a beta of 0.69. The company has a current ratio of 0.63, a quick ratio of 0.56 and a debt-to-equity ratio of 1.66. The company's 50-day moving average price is $62.98 and its two-hundred day moving average price is $57.65. TC Energy Corporation has a 52 week low of $46.29 and a 52 week high of $65.57.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its earnings results on Friday, February 13th. The pipeline company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.65 by $0.05. The firm had revenue of $2.20 billion for the quarter, compared to analysts' expectations of $2.94 billion. TC Energy had a net margin of 23.04% and a return on equity of 10.52%. During the same quarter last year, the company earned $1.05 EPS. On average, analysts expect that TC Energy Corporation will post 2.78 EPS for the current fiscal year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.8775 per share. This represents a $3.51 annualized dividend and a yield of 5.6%. 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. TC Energy's dividend payout ratio is 108.62%.

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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