TC Energy Corporation $TRP Holdings Decreased by Cardinal Capital Management Inc.

Key Points

• Cardinal Capital Management Inc. reduced its stake in TC Energy Corporation by 0.3%, holding approximately 2.48 million shares and making it the eighth largest position in its portfolio.
• TC Energy recently announced an increase in its quarterly dividend, now paying $0.6148, which reflects a yield of 4.7% and a dividend payout ratio of 85.32%.
• Analysts maintain a "Moderate Buy" rating on TC Energy, with an average price target of $62.00, although ratings from some analysts have varied from "Strong Buy" to "Sell."

Cardinal Capital Management Inc. lowered its position in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 0.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,478,552 shares of the pipeline company's stock after selling 7,645 shares during the quarter. TC Energy makes up approximately 3.8% of Cardinal Capital Management Inc.'s holdings, making the stock its 8th biggest position. Cardinal Capital Management Inc. owned about 0.24% of TC Energy worth $120,961,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in TRP. Baader Bank Aktiengesellschaft grew its holdings in TC Energy by 4.4% during the first quarter. Baader Bank Aktiengesellschaft now owns 6,325 shares of the pipeline company's stock worth $289,000 after purchasing an additional 264 shares during the period. Compound Planning Inc. raised its position in shares of TC Energy by 2.1% in the first quarter. Compound Planning Inc. now owns 13,806 shares of the pipeline company's stock valued at $652,000 after buying an additional 288 shares in the last quarter. Prudential PLC raised its position in TC Energy by 5.2% during the first quarter. Prudential PLC now owns 6,536 shares of the pipeline company's stock valued at $309,000 after purchasing an additional 326 shares in the last quarter. Avantax Advisory Services Inc. raised its position in TC Energy by 3.6% during the first quarter. Avantax Advisory Services Inc. now owns 9,908 shares of the pipeline company's stock valued at $468,000 after purchasing an additional 344 shares in the last quarter. Finally, FSM Wealth Advisors LLC increased its holdings in shares of TC Energy by 9.2% during the first quarter. FSM Wealth Advisors LLC now owns 5,152 shares of the pipeline company's stock worth $243,000 after buying an additional 432 shares in the last quarter. Institutional investors own 83.13% of the company's stock.

TC Energy Stock Down 0.2%

Shares of TRP stock opened at $52.57 on Friday. The company has a 50 day simple moving average of $50.20 and a two-hundred day simple moving average of $49.12. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.54. The stock has a market cap of $54.69 billion, a P/E ratio of 17.94, a P/E/G ratio of 5.05 and a beta of 0.77. TC Energy Corporation has a 12 month low of $40.76 and a 12 month high of $53.08.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its quarterly earnings data on Thursday, July 31st. The pipeline company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.56 by $0.03. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $2.56 billion. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. During the same quarter last year, the business earned $0.79 earnings per share. On average, research analysts expect that TC Energy Corporation will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 29th will be paid a $0.6148 dividend. This is a boost from TC Energy's previous quarterly dividend of $0.61. The ex-dividend date is Monday, September 29th. This represents a $2.46 dividend on an annualized basis and a yield of 4.7%. TC Energy's dividend payout ratio (DPR) is 85.32%.

Analysts Set New Price Targets

A number of analysts have commented on TRP shares. Barclays reaffirmed an "overweight" rating on shares of TC Energy in a research report on Thursday, August 14th. US Capital Advisors downgraded shares of TC Energy from a "moderate buy" rating to a "hold" rating in a research report on Thursday, August 21st. Finally, Wall Street Zen raised shares of TC Energy from a "sell" rating to a "hold" rating in a report on Saturday, September 13th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, TC Energy presently has an average rating of "Moderate Buy" and an average price target of $62.00.

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.

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