TC Energy Corporation $TRP Shares Sold by MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd

Key Points

• MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd reduced its TC Energy stake by 2.7% in the third quarter, selling 16,392 shares and retaining 589,585 shares valued at approximately $34.1 million.
• Institutional ownership remains high at 83.13%, with several major investors—including Canada Pension Plan Investment Board and GQG Partners—recently establishing sizable positions.
• Analysts maintain a generally positive outlook, with TC Energy carrying a “Moderate Buy” consensus rating and a $93.75 average price target; shares recently traded at $63.08.

MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd cut its stake in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 2.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 589,585 shares of the pipeline company's stock after selling 16,392 shares during the period. TC Energy comprises about 4.4% of MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd's holdings, making the stock its 6th largest holding. MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd's holdings in TC Energy were worth $34,066,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of TRP. Canada Pension Plan Investment Board purchased a new stake in shares of TC Energy during the 2nd quarter worth $1,148,244,000. GQG Partners LLC acquired a new position in shares of TC Energy in the 2nd quarter valued at $1,107,936,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of TC Energy in the 2nd quarter valued at $977,976,000. Legal & General Group Plc acquired a new position in shares of TC Energy in the 2nd quarter valued at $519,612,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of TC Energy in the 2nd quarter valued at $362,982,000. 83.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TRP has been the topic of several research analyst reports. Weiss Ratings reiterated a "buy (b)" rating on shares of TC Energy in a research note on Friday, July 31st. US Capital Advisors raised TC Energy from a "hold" rating to a "moderate buy" rating in a report on Thursday, August 20th. Barclays reaffirmed an "overweight" rating on shares of TC Energy in a research report on Thursday, July 16th. TD Securities reiterated a "buy" rating on shares of TC Energy in a research note on Friday, October 16th. Finally, Royal Bank Of Canada reissued a "moderate buy" rating and issued a $106.00 price objective on shares of TC Energy in a report on Friday, September 11th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $93.75.

TC Energy Trading Up 0.3%

Shares of TRP stock opened at $63.08 on Thursday. The company has a market capitalization of $63.08 billion, a P/E ratio of 26.18 and a beta of 0.70. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.64. The business's 50 day moving average is $61.21 and its two-hundred day moving average is $63.53. TC Energy Corporation has a twelve month low of $49.27 and a twelve month high of $71.47.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its quarterly earnings results on Thursday, July 30th. The pipeline company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.61 by $0.07. TC Energy had a return on equity of 11.10% and a net margin of 22.91%. The business had revenue of $2.80 billion during the quarter, compared to analysts' expectations of $2.76 billion. During the same quarter in the prior year, the business earned $0.82 earnings per share. Equities analysts forecast that TC Energy Corporation will post 2.80 EPS for the current year.

TC Energy Company Profile

TC Energy Corporation NYSE: TRP is a North American energy infrastructure company that develops and operates natural gas pipelines, storage facilities, power-generation assets and related energy infrastructure. Its natural gas pipeline network connects major supply basins with utilities, power producers, industrial customers and local distribution companies.

The company's operations are primarily located in Canada and the United States, with additional natural gas pipeline interests in Mexico.

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