Lincluden Management Ltd. Sells 164,440 Shares of TC Energy Co. (NYSE:TRP)

Lincluden Management Ltd. cut its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 13.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,054,407 shares of the pipeline company’s stock after selling 164,440 shares during the period. TC Energy accounts for about 5.9% of Lincluden Management Ltd.’s portfolio, making the stock its 3rd largest position. Lincluden Management Ltd. owned about 0.10% of TC Energy worth $49,137,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. IFP Advisors Inc lifted its position in TC Energy by 7.0% during the 4th quarter. IFP Advisors Inc now owns 3,809 shares of the pipeline company’s stock worth $177,000 after acquiring an additional 249 shares during the period. Atlantic Family Wealth LLC purchased a new position in shares of TC Energy in the fourth quarter worth about $251,000. Lipe & Dalton lifted its holdings in shares of TC Energy by 1.9% during the fourth quarter. Lipe & Dalton now owns 53,657 shares of the pipeline company’s stock worth $2,497,000 after purchasing an additional 980 shares during the period. Bell Bank boosted its position in TC Energy by 14.3% in the fourth quarter. Bell Bank now owns 175,742 shares of the pipeline company’s stock valued at $8,177,000 after buying an additional 21,970 shares during the last quarter. Finally, Arcadia Investment Management Corp MI acquired a new position in TC Energy in the 4th quarter worth approximately $93,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Wall Street Analysts Forecast Growth

TRP has been the subject of several research reports. BMO Capital Markets lifted their price objective on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. TD Securities assumed coverage on shares of TC Energy in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. Veritas upgraded TC Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. Finally, Royal Bank of Canada boosted their price objective on TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $62.00.

TC Energy Stock Down 1.6 %

TRP opened at $44.29 on Tuesday. The company has a fifty day moving average of $46.44 and a two-hundred day moving average of $46.69. 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 $31.83 and a fifty-two week high of $50.37. The stock has a market capitalization of $46.02 billion, a price-to-earnings ratio of 13.67, a PEG ratio of 4.34 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.54. The firm had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.42 billion. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. During the same quarter in the previous year, the business earned $1.35 EPS. On average, research analysts expect that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 7.68%. This is an increase from TC Energy’s previous quarterly dividend of $0.82. The ex-dividend date is Monday, March 31st. TC Energy’s dividend payout ratio is presently 71.91%.

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.