TC Energy Co. (NYSE:TRP) Shares Sold by Ausbil Investment Management Ltd

Ausbil Investment Management Ltd decreased its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 41.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 169,681 shares of the pipeline company’s stock after selling 118,540 shares during the quarter. TC Energy comprises approximately 4.9% of Ausbil Investment Management Ltd’s investment portfolio, making the stock its 3rd biggest position. Ausbil Investment Management Ltd’s holdings in TC Energy were worth $8,058,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Captrust Financial Advisors grew its position in shares of TC Energy by 1.3% during the 3rd quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock worth $871,000 after purchasing an additional 242 shares in the last quarter. Prospera Financial Services Inc grew its position in TC Energy by 4.8% during the third quarter. Prospera Financial Services Inc now owns 5,754 shares of the pipeline company’s stock worth $274,000 after buying an additional 262 shares in the last quarter. First Horizon Advisors Inc. increased its stake in TC Energy by 8.1% during the 3rd quarter. First Horizon Advisors Inc. now owns 3,505 shares of the pipeline company’s stock worth $167,000 after acquiring an additional 264 shares during the period. Blue Trust Inc. raised its holdings in TC Energy by 72.0% in the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after acquiring an additional 267 shares in the last quarter. Finally, Cohen Investment Advisors LLC lifted its position in shares of TC Energy by 2.9% during the 4th quarter. Cohen Investment Advisors LLC now owns 9,831 shares of the pipeline company’s stock valued at $457,000 after acquiring an additional 279 shares during the period. Institutional investors own 83.13% of the company’s stock.

TC Energy Stock Performance

Shares of TC Energy stock opened at $45.07 on Friday. The company has a market cap of $46.83 billion, a PE ratio of 12.48, a price-to-earnings-growth ratio of 4.34 and a beta of 0.82. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78. TC Energy Co. has a 52 week low of $31.83 and a 52 week high of $50.37. The business has a 50 day moving average price of $47.09 and a 200-day moving average price of $46.09.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.06. The business had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. Equities analysts anticipate that TC Energy Co. will post 2.94 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were paid a $0.822 dividend. This represents a $3.29 dividend on an annualized basis and a yield of 7.30%. This is a boost from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Tuesday, December 31st. TC Energy’s payout ratio is presently 63.43%.

Analyst Ratings Changes

TRP has been the subject of a number of analyst reports. BMO Capital Markets boosted their price target on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. The Goldman Sachs Group lifted their target price on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research report on Monday, October 21st. Veritas raised TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. TD Securities initiated coverage on TC Energy in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Finally, JPMorgan Chase & Co. raised shares of TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $56.00.

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.