TC Energy Co. (NYSE:TRP) Stock Position Lessened by JARISLOWSKY FRASER Ltd

JARISLOWSKY FRASER Ltd trimmed its position in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 3.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,797,379 shares of the pipeline company's stock after selling 450,630 shares during the quarter. TC Energy accounts for approximately 3.2% of JARISLOWSKY FRASER Ltd's investment portfolio, making the stock its 7th biggest position. JARISLOWSKY FRASER Ltd owned 1.14% of TC Energy worth $549,511,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TRP. BROOKFIELD Corp ON boosted its stake in shares of TC Energy by 31.6% in the fourth quarter. BROOKFIELD Corp ON now owns 1,890,168 shares of the pipeline company's stock valued at $87,950,000 after purchasing an additional 454,011 shares during the period. Addenda Capital Inc. boosted its position in TC Energy by 4.4% in the 4th quarter. Addenda Capital Inc. now owns 1,034,497 shares of the pipeline company's stock valued at $48,135,000 after buying an additional 43,639 shares during the period. Ritholtz Wealth Management grew its stake in shares of TC Energy by 44.8% in the fourth quarter. Ritholtz Wealth Management now owns 23,957 shares of the pipeline company's stock worth $1,115,000 after acquiring an additional 7,412 shares in the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of TC Energy by 7.8% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 224,829 shares of the pipeline company's stock worth $10,463,000 after acquiring an additional 16,334 shares during the period. Finally, Cinctive Capital Management LP raised its stake in shares of TC Energy by 12.3% in the fourth quarter. Cinctive Capital Management LP now owns 194,133 shares of the pipeline company's stock valued at $9,042,000 after acquiring an additional 21,243 shares in the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. US Capital Advisors raised TC Energy from a "hold" rating to a "moderate buy" rating in a research report on Monday, February 3rd. CIBC upgraded shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a research note on Friday, May 2nd. Royal Bank of Canada increased their price objective on shares of TC Energy from $71.00 to $74.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. TD Securities assumed coverage on shares of TC Energy in a research report on Wednesday, January 15th. They set a "buy" rating for the company. Finally, Veritas raised TC Energy from a "strong sell" rating to a "strong-buy" rating in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $62.00.

TC Energy Stock Up 0.7 %

TC Energy stock opened at $49.35 on Friday. The company has a market capitalization of $51.31 billion, a P/E ratio of 15.23, a PEG ratio of 4.34 and a beta of 0.78. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55. TC Energy Co. has a fifty-two week low of $37.07 and a fifty-two week high of $51.34. The stock has a 50-day simple moving average of $48.12 and a 200-day simple moving average of $47.40.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its quarterly earnings data 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). TC Energy had a net margin of 29.40% and a return on equity of 12.12%. The firm had revenue of $1.78 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same period in the previous year, the company posted $1.02 earnings per share. Equities research analysts expect that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a dividend of $0.6142 per share. This represents a $2.46 annualized dividend and a yield of 4.98%. The ex-dividend date is Monday, June 30th. TC Energy's dividend payout ratio is presently 77.89%.

About TC Energy

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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