BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 611,066 Shares of TC Energy Co. (NYSE:TRP)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its stake in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 57.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 457,631 shares of the pipeline company's stock after selling 611,066 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in TC Energy were worth $21,300,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in TC Energy in the fourth quarter valued at approximately $428,759,000. Mufg Securities Canada LTD. boosted its position in shares of TC Energy by 571.7% in the 4th quarter. Mufg Securities Canada LTD. now owns 6,184,832 shares of the pipeline company's stock worth $288,043,000 after purchasing an additional 5,264,079 shares during the last quarter. Blackstone Inc. boosted its position in shares of TC Energy by 83.8% in the 4th quarter. Blackstone Inc. now owns 7,637,469 shares of the pipeline company's stock worth $355,371,000 after purchasing an additional 3,482,874 shares during the last quarter. FIL Ltd grew its stake in shares of TC Energy by 10.3% during the fourth quarter. FIL Ltd now owns 28,443,403 shares of the pipeline company's stock worth $1,325,558,000 after purchasing an additional 2,644,627 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new stake in TC Energy in the fourth quarter valued at about $102,405,000. 83.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on TRP shares. Citigroup initiated coverage on TC Energy in a research report on Friday, April 4th. They set a "neutral" rating for the company. Cibc World Mkts raised shares of TC Energy from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 2nd. Veritas upgraded shares of TC Energy from a "strong sell" rating to a "strong-buy" rating in a report on Tuesday, February 18th. Royal Bank of Canada boosted 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, US Capital Advisors upgraded shares of TC Energy from a "hold" rating to a "moderate buy" rating in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, TC Energy has a consensus rating of "Moderate Buy" and a consensus target price of $62.00.

TC Energy Stock Up 0.2%

Shares of NYSE TRP traded up $0.08 during midday trading on Tuesday, reaching $50.53. The company's stock had a trading volume of 388,196 shares, compared to its average volume of 2,501,840. The stock has a 50 day simple moving average of $48.74 and a 200-day simple moving average of $47.57. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56. The stock has a market capitalization of $52.53 billion, a price-to-earnings ratio of 15.60, a PEG ratio of 4.34 and a beta of 0.78. TC Energy Co. has a fifty-two week low of $37.07 and a fifty-two week high of $51.34.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued 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 business had revenue of $1.78 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same quarter in the previous year, the firm posted $1.02 earnings per share. Equities research analysts predict that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a dividend of $0.6142 per share. The ex-dividend date is Monday, June 30th. This represents a $2.46 annualized dividend and a yield of 4.86%. TC Energy's payout ratio 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.