Beutel Goodman & Co Ltd. Decreases Holdings in TC Energy Co. (NYSE:TRP)

Beutel Goodman & Co Ltd. reduced its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 10.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,645,095 shares of the pipeline company’s stock after selling 759,047 shares during the period. TC Energy comprises approximately 1.7% of Beutel Goodman & Co Ltd.’s portfolio, making the stock its 29th biggest holding. Beutel Goodman & Co Ltd. owned about 0.64% of TC Energy worth $309,521,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. NTV Asset Management LLC grew its holdings in shares of TC Energy by 4.0% during the 4th quarter. NTV Asset Management LLC now owns 6,189 shares of the pipeline company’s stock valued at $288,000 after purchasing an additional 239 shares during the last quarter. Captrust Financial Advisors grew its stake in shares of TC Energy by 1.3% during the third quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock valued at $871,000 after buying an additional 242 shares during the last quarter. Lee Financial Co increased its holdings in shares of TC Energy by 3.1% in the fourth quarter. Lee Financial Co now owns 8,185 shares of the pipeline company’s stock worth $381,000 after buying an additional 246 shares during the period. IFP Advisors Inc lifted its stake in shares of TC Energy by 7.0% in the 4th quarter. IFP Advisors Inc now owns 3,809 shares of the pipeline company’s stock valued at $177,000 after acquiring an additional 249 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its holdings in TC Energy by 7.2% during the 4th quarter. Global Retirement Partners LLC now owns 4,099 shares of the pipeline company’s stock valued at $191,000 after acquiring an additional 274 shares during the period. 83.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on TRP shares. Veritas raised shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. TD Securities began coverage on TC Energy in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. StockNews.com lowered shares of TC Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Finally, Royal Bank of Canada lifted their price target on shares of TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $62.00.

TC Energy Trading Down 0.5 %

TC Energy stock opened at $48.02 on Friday. 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 one year low of $34.95 and a one year high of $50.37. The stock has a market cap of $49.90 billion, a PE ratio of 14.82, a price-to-earnings-growth ratio of 4.34 and a beta of 0.83. The stock has a 50-day moving average of $46.54 and a two-hundred day moving average of $46.93.

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

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 7.08%. The ex-dividend date is Monday, March 31st. This is a boost from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s payout ratio is 72.53%.

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.