TC Energy Co. (NYSE:TRP) Stake Lessened by K.J. Harrison & Partners Inc

K.J. Harrison & Partners Inc trimmed its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 17.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 255,661 shares of the pipeline company’s stock after selling 55,820 shares during the quarter. TC Energy makes up 1.9% of K.J. Harrison & Partners Inc’s portfolio, making the stock its 11th biggest position. K.J. Harrison & Partners Inc’s holdings in TC Energy were worth $12,097,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in TRP. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in TC Energy by 156.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company’s stock worth $321,778,000 after purchasing an additional 4,126,801 shares during the period. Zurich Insurance Group Ltd FI bought a new position in shares of TC Energy in the 3rd quarter worth about $73,162,000. Merewether Investment Management LP boosted its holdings in shares of TC Energy by 37.9% in the 3rd quarter. Merewether Investment Management LP now owns 4,097,600 shares of the pipeline company’s stock valued at $194,776,000 after buying an additional 1,127,000 shares during the period. Duff & Phelps Investment Management Co. grew its position in shares of TC Energy by 70.7% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,763,915 shares of the pipeline company’s stock valued at $83,874,000 after buying an additional 730,415 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP raised its stake in TC Energy by 29.2% during the third quarter. Kayne Anderson Capital Advisors LP now owns 3,198,140 shares of the pipeline company’s stock worth $152,072,000 after acquiring an additional 722,619 shares during the period. 83.13% of the stock is owned by institutional investors and hedge funds.

TC Energy Stock Up 0.3 %

TRP stock opened at $44.41 on Thursday. TC Energy Co. has a 52 week low of $31.83 and a 52 week high of $50.37. The company has a market capitalization of $46.15 billion, a price-to-earnings ratio of 13.71, a price-to-earnings-growth ratio of 4.34 and a beta of 0.81. The firm’s 50-day moving average is $46.39 and its two-hundred day moving average is $46.68. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56.

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

TC Energy Increases Dividend

The business 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 $0.85 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.40 annualized dividend and a dividend yield of 7.66%. This is a boost from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s dividend payout ratio is currently 71.91%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TRP. TD Securities began coverage on TC Energy in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. 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 report on Wednesday, November 20th. Veritas upgraded shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. Finally, StockNews.com raised TC Energy from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. One equities 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. Based on data from MarketBeat.com, TC Energy presently has a consensus rating of “Moderate Buy” and an average target price of $62.00.

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.