Mackenzie Financial Corp Reduces Holdings in TC Energy Co. (NYSE:TRP)

Mackenzie Financial Corp trimmed its position in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 14.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,293,961 shares of the pipeline company's stock after selling 2,119,476 shares during the quarter. Mackenzie Financial Corp owned about 1.18% of TC Energy worth $572,323,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new stake in TC Energy during the 4th quarter valued at approximately $31,000. Synergy Investment Management LLC purchased a new stake in TC Energy during the 4th quarter valued at approximately $36,000. Millstone Evans Group LLC purchased a new stake in TC Energy during the 4th quarter valued at approximately $41,000. First Command Advisory Services Inc. purchased a new stake in TC Energy during the 4th quarter valued at approximately $46,000. Finally, Rogco LP grew its holdings in TC Energy by 100.0% during the 4th quarter. Rogco LP now owns 1,000 shares of the pipeline company's stock valued at $47,000 after buying an additional 500 shares in the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TRP. CIBC raised shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a report on Friday, May 2nd. Veritas raised shares of TC Energy from a "strong sell" rating to a "strong-buy" rating in a report on Tuesday, February 18th. US Capital Advisors raised shares of TC Energy from a "hold" rating to a "moderate buy" rating in a report on Monday, February 3rd. Wall Street Zen lowered shares of TC Energy from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Finally, Royal Bank of Canada raised their target price 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. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, TC Energy has a consensus rating of "Moderate Buy" and an average target price of $62.00.

TC Energy Stock Up 0.1%

Shares of TRP stock traded up $0.04 on Thursday, hitting $49.93. The stock had a trading volume of 612,294 shares, compared to its average volume of 2,497,692. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56. The business has a 50 day moving average price of $48.79 and a 200 day moving average price of $47.60. The company has a market cap of $51.90 billion, a PE ratio of 15.41, a P/E/G ratio of 4.34 and a beta of 0.78. TC Energy Co. has a one year low of $37.07 and a one year high of $51.34.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its 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 analysts' expectations of $2.57 billion. During the same quarter last year, the firm earned $1.02 EPS. Research analysts anticipate that TC Energy Co. will post 2.63 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a $0.6142 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.46 annualized dividend and a 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.