JARISLOWSKY FRASER Ltd Reduces Holdings in TC Energy Co. (NYSE:TRP)

JARISLOWSKY FRASER Ltd lowered its holdings in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 3.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,797,379 shares of the pipeline company's stock after selling 450,630 shares during the period. TC Energy makes up 3.2% of JARISLOWSKY FRASER Ltd's portfolio, making the stock its 7th biggest position. JARISLOWSKY FRASER Ltd owned about 1.14% of TC Energy worth $549,511,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new position in TC Energy during the fourth quarter valued at about $31,000. Synergy Investment Management LLC acquired a new stake in TC Energy during the fourth quarter worth about $36,000. Millstone Evans Group LLC acquired a new stake in TC Energy during the fourth quarter worth about $41,000. First Command Advisory Services Inc. bought a new position in TC Energy during the fourth quarter worth about $46,000. Finally, Rogco LP lifted its stake in TC Energy by 100.0% during the fourth quarter. Rogco LP now owns 1,000 shares of the pipeline company's stock worth $47,000 after purchasing an additional 500 shares during the period. Hedge funds and other institutional investors own 83.13% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on TRP shares. Veritas upgraded shares of TC Energy from a "strong sell" rating to a "strong-buy" rating in a research note on Tuesday, February 18th. CIBC upgraded shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a research note on Friday, May 2nd. StockNews.com cut shares of TC Energy from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. 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. Finally, Cibc World Mkts upgraded shares of TC Energy from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $62.00.

TC Energy Stock Down 0.1%

Shares of TC Energy stock traded down $0.05 on Friday, hitting $49.84. The company had a trading volume of 780,080 shares, compared to its average volume of 2,508,867. The firm has a market capitalization of $51.81 billion, a P/E ratio of 15.38, a P/E/G ratio of 4.34 and a beta of 0.78. TC Energy Co. has a twelve month low of $37.07 and a twelve month high of $51.34. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23. The stock has a 50-day moving average of $48.36 and a 200-day moving average of $47.45.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its quarterly earnings results on Thursday, May 1st. The pipeline company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.04). The company had revenue of $1.78 billion during the quarter, compared to analyst estimates of $2.57 billion. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. During the same quarter last year, the company earned $1.02 EPS. Research analysts predict that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a dividend of $0.6142 per share. This represents a $2.46 annualized dividend and a yield of 4.93%. The ex-dividend date of this dividend is Monday, June 30th. TC Energy's payout ratio is 77.89%.

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.