TC Energy Corporation $TRP Position Reduced by Lincluden Management Ltd.

Key Points

• Lincluden Management Ltd. decreased its position in TC Energy Corporation (NYSE:TRP) by 12.3% during the second quarter, selling 124,678 shares and holding 887,602 shares after the sale.
• Several hedge funds, including GAMMA Investing LLC and Farther Finance Advisors LLC, significantly increased their positions in TC Energy, indicating varied investor sentiment.
• TC Energy recently announced a quarterly dividend increase to $0.6148 per share, representing a 4.7% dividend yield, payable on October 31st.

Lincluden Management Ltd. decreased its position in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 12.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 887,602 shares of the pipeline company's stock after selling 124,678 shares during the quarter. TC Energy makes up 4.8% of Lincluden Management Ltd.'s investment portfolio, making the stock its 4th largest position. Lincluden Management Ltd. owned 0.09% of TC Energy worth $43,293,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of TRP. GAMMA Investing LLC increased its position in shares of TC Energy by 4,621.3% in the first quarter. GAMMA Investing LLC now owns 6,657 shares of the pipeline company's stock valued at $314,000 after acquiring an additional 6,516 shares during the period. Farther Finance Advisors LLC increased its position in shares of TC Energy by 77.7% in the first quarter. Farther Finance Advisors LLC now owns 2,299 shares of the pipeline company's stock valued at $110,000 after acquiring an additional 1,005 shares during the period. Elevation Point Wealth Partners LLC increased its position in shares of TC Energy by 3.0% in the first quarter. Elevation Point Wealth Partners LLC now owns 21,271 shares of the pipeline company's stock valued at $1,004,000 after acquiring an additional 614 shares during the period. Jackson Square Capital LLC increased its position in shares of TC Energy by 18.7% in the first quarter. Jackson Square Capital LLC now owns 19,753 shares of the pipeline company's stock valued at $933,000 after acquiring an additional 3,118 shares during the period. Finally, Hennessy Advisors Inc. increased its position in shares of TC Energy by 4.5% during the first quarter. Hennessy Advisors Inc. now owns 602,430 shares of the pipeline company's stock valued at $28,441,000 after buying an additional 25,730 shares during the period. Hedge funds and other institutional investors own 83.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on TRP shares. Wall Street Zen cut shares of TC Energy from a "hold" rating to a "sell" rating in a research report on Friday, October 3rd. Cibc World Mkts cut shares of TC Energy from a "strong-buy" rating to a "hold" rating in a research report on Thursday. US Capital Advisors cut shares of TC Energy from a "moderate buy" rating to a "hold" rating in a research report on Thursday, August 21st. Barclays reiterated an "overweight" rating on shares of TC Energy in a research report on Thursday, August 14th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of TC Energy in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, TC Energy has a consensus rating of "Moderate Buy" and an average price target of $62.00.

TC Energy Trading Up 0.2%

Shares of NYSE TRP opened at $52.82 on Friday. The firm's 50 day moving average price is $52.01 and its 200-day moving average price is $49.79. The company has a market cap of $54.95 billion, a PE ratio of 18.03, a P/E/G ratio of 4.94 and a beta of 0.75. TC Energy Corporation has a 52-week low of $43.51 and a 52-week high of $55.37. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.54 and a current ratio of 0.61.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its earnings results on Thursday, July 31st. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.03. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate 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 in the prior year, the firm posted $0.79 earnings per share. On average, equities research analysts expect that TC Energy Corporation will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders 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. This represents a $2.46 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Monday, September 29th. TC Energy's payout ratio is currently 84.30%.

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.

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