Cardinal Capital Management Inc. Lowers Stake in TC Energy Co. (NYSE:TRP)

Cardinal Capital Management Inc. cut its position in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 0.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,486,197 shares of the pipeline company's stock after selling 13,335 shares during the quarter. TC Energy makes up about 4.0% of Cardinal Capital Management Inc.'s investment portfolio, making the stock its 5th largest position. Cardinal Capital Management Inc. owned 0.24% of TC Energy worth $117,462,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of TRP. Lowe Wealth Advisors LLC purchased a new position in shares of TC Energy during the first quarter worth approximately $30,000. SBI Securities Co. Ltd. purchased a new position in TC Energy in the 4th quarter worth $31,000. Synergy Investment Management LLC bought a new stake in TC Energy in the fourth quarter worth $36,000. Millstone Evans Group LLC bought a new position in shares of TC Energy during the fourth quarter valued at about $41,000. Finally, First Command Advisory Services Inc. bought a new stake in shares of TC Energy in the 4th quarter valued at about $46,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. CIBC raised TC Energy from a "neutral" rating to a "sector outperform" rating in a research note on Friday, May 2nd. Cibc World Mkts raised TC Energy from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 2nd. Royal Bank of Canada lifted their target price on shares of TC Energy from $71.00 to $74.00 and gave the company an "outperform" rating in a research note on Tuesday, February 18th. Veritas upgraded shares of TC Energy from a "strong sell" rating to a "strong-buy" rating in a report on Tuesday, February 18th. Finally, Citigroup initiated coverage on TC Energy in a research report on Friday, April 4th. They set a "neutral" rating on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, TC Energy currently has an average rating of "Moderate Buy" and an average target price of $62.00.

TC Energy Stock Up 0.2%

NYSE:TRP traded up $0.11 on Tuesday, reaching $49.56. 4,462,747 shares of the stock traded hands, compared to its average volume of 2,447,461. 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 company has a market capitalization of $51.53 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 4.34 and a beta of 0.78. TC Energy Co. has a 12 month low of $37.07 and a 12 month high of $51.99. The company's fifty day simple moving average is $49.17 and its 200 day simple moving average is $47.66.

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 analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $2.57 billion. During the same period in the previous year, the business earned $1.02 EPS. Equities analysts predict that TC Energy Co. will post 2.63 EPS 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 given a $0.6142 dividend. This represents a $2.46 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date of this dividend is Monday, June 30th. TC Energy's dividend payout ratio (DPR) is presently 81.52%.

TC Energy Company 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.