Mackenzie Financial Corp Has $572.32 Million Stake in TC Energy Co. (NYSE:TRP)

Mackenzie Financial Corp trimmed its holdings in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 14.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,293,961 shares of the pipeline company's stock after selling 2,119,476 shares during the quarter. Mackenzie Financial Corp owned 1.18% of TC Energy worth $572,323,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TRP. Vanguard Group Inc. grew its holdings in shares of TC Energy by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 43,687,141 shares of the pipeline company's stock valued at $2,035,952,000 after purchasing an additional 734,678 shares during the last quarter. FIL Ltd increased its holdings in shares of TC Energy by 10.3% in the fourth quarter. FIL Ltd now owns 28,443,403 shares of the pipeline company's stock valued at $1,325,558,000 after buying an additional 2,644,627 shares in the last quarter. TD Asset Management Inc. increased its holdings in shares of TC Energy by 2.1% in the fourth quarter. TD Asset Management Inc. now owns 16,437,150 shares of the pipeline company's stock valued at $765,627,000 after buying an additional 344,485 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of TC Energy by 9.5% in the fourth quarter. Canada Pension Plan Investment Board now owns 14,755,330 shares of the pipeline company's stock valued at $686,763,000 after buying an additional 1,280,000 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of TC Energy in the fourth quarter valued at $428,759,000. 83.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on TRP shares. Wall Street Zen cut shares of TC Energy from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Cibc World Mkts upgraded shares of TC Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, May 2nd. US Capital Advisors upgraded shares of TC Energy from a "hold" rating to a "moderate buy" rating in a report on Monday, February 3rd. Royal Bank of Canada upped their price target on shares of TC Energy from $71.00 to $74.00 and gave the company an "outperform" rating in a report on Tuesday, February 18th. Finally, Veritas upgraded shares of TC Energy from a "strong sell" rating to a "strong-buy" rating in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $62.00.

TC Energy Price Performance

TRP traded down $0.41 during midday trading on Tuesday, reaching $50.04. 1,462,221 shares of the company's stock were exchanged, compared to its average volume of 2,506,024. The firm has a market capitalization of $52.02 billion, a price-to-earnings ratio of 15.44, a price-to-earnings-growth ratio of 4.34 and a beta of 0.78. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56. TC Energy Co. has a one year low of $37.07 and a one year high of $51.34. The business has a 50-day simple moving average of $48.74 and a two-hundred day simple moving average of $47.57.

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 EPS for the quarter, missing analysts' consensus estimates of $0.70 by ($0.04). The business had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $2.57 billion. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. During the same quarter in the prior year, the business earned $1.02 EPS. As a group, research analysts predict that TC Energy Co. will post 2.63 EPS for the current year.

TC Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a $0.6142 dividend. This represents a $2.46 dividend on an annualized basis and a dividend yield of 4.91%. The ex-dividend date is Monday, June 30th. TC Energy's dividend payout ratio (DPR) is currently 77.89%.

TC Energy Profile

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.