Intact Investment Management Inc. decreased its position in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 61.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 775,184 shares of the pipeline company's stock after selling 1,218,396 shares during the period. TC Energy accounts for 1.2% of Intact Investment Management Inc.'s investment portfolio, making the stock its 26th biggest holding. Intact Investment Management Inc. owned 0.08% of TC Energy worth $30,282,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TRP. Stevens Capital Management LP purchased a new stake in shares of TC Energy during the 4th quarter worth approximately $240,000. Parkside Financial Bank & Trust purchased a new stake in shares of TC Energy during the 4th quarter worth approximately $74,000. Lorne Steinberg Wealth Management Inc. increased its stake in shares of TC Energy by 13.6% during the 4th quarter. Lorne Steinberg Wealth Management Inc. now owns 165,282 shares of the pipeline company's stock worth $6,458,000 after purchasing an additional 19,834 shares during the last quarter. CWM LLC increased its stake in shares of TC Energy by 56.2% during the 4th quarter. CWM LLC now owns 2,725 shares of the pipeline company's stock worth $107,000 after purchasing an additional 980 shares during the last quarter. Finally, Signaturefd LLC increased its stake in shares of TC Energy by 29.0% during the 4th quarter. Signaturefd LLC now owns 14,765 shares of the pipeline company's stock worth $577,000 after purchasing an additional 3,317 shares during the last quarter. Hedge funds and other institutional investors own 83.13% of the company's stock.
TC Energy Price Performance
NYSE:TRP traded up $0.01 during trading hours on Friday, hitting $36.10. The stock had a trading volume of 2,934,696 shares, compared to its average volume of 4,243,999. The company has a 50 day simple moving average of $38.83 and a two-hundred day simple moving average of $38.07. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.96 and a quick ratio of 0.88. TC Energy Co. has a one year low of $32.51 and a one year high of $42.49. The firm has a market capitalization of $36.10 billion, a price-to-earnings ratio of 17.78, a P/E/G ratio of 3.12 and a beta of 0.75.
TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its quarterly earnings results on Friday, February 16th. The pipeline company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.79 by $0.20. TC Energy had a net margin of 18.25% and a return on equity of 18.60%. The firm had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.93 billion. Research analysts forecast that TC Energy Co. will post 2.89 earnings per share for the current fiscal year.
TC Energy Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be issued a dividend of $0.714 per share. This is an increase from TC Energy's previous quarterly dividend of $0.67. This represents a $2.86 dividend on an annualized basis and a dividend yield of 7.91%. The ex-dividend date of this dividend is Wednesday, March 27th. TC Energy's payout ratio is currently 139.41%.
Wall Street Analyst Weigh In
TRP has been the subject of several research analyst reports. Barclays raised their price target on shares of TC Energy from $53.00 to $55.00 and gave the stock an "equal weight" rating in a research note on Monday, January 29th. Stifel Nicolaus started coverage on shares of TC Energy in a research note on Thursday, January 18th. They issued a "buy" rating for the company. TheStreet upgraded shares of TC Energy from a "c+" rating to a "b-" rating in a research note on Wednesday, March 20th. Jefferies Financial Group started coverage on shares of TC Energy in a research note on Tuesday, February 27th. They issued a "hold" rating for the company. Finally, The Goldman Sachs Group lifted their price objective on shares of TC Energy from $29.00 to $32.00 and gave the company a "sell" rating in a research note on Friday, January 26th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $48.83.
Get Our Latest Analysis on TC Energy
TC Energy Profile
(
Free Report)
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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