Ontario Teachers Pension Plan Board Reduces Stock Position in TC Energy Co. (NYSE:TRP)

Ontario Teachers Pension Plan Board trimmed its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 24.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,896 shares of the pipeline company’s stock after selling 6,981 shares during the period. Ontario Teachers Pension Plan Board’s holdings in TC Energy were worth $1,019,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in TC Energy during the fourth quarter worth $31,000. Versant Capital Management Inc purchased a new position in shares of TC Energy in the fourth quarter valued at $33,000. Synergy Investment Management LLC acquired a new position in shares of TC Energy during the 4th quarter worth $36,000. Millstone Evans Group LLC purchased a new stake in shares of TC Energy in the 4th quarter worth about $41,000. Finally, First Command Advisory Services Inc. acquired a new stake in TC Energy in the 4th quarter valued at about $46,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Stock Performance

NYSE TRP opened at $48.88 on Thursday. The business’s 50-day moving average price is $46.69 and its 200 day moving average price is $46.97. 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 Co. has a twelve month low of $34.95 and a twelve month high of $50.37. The company has a market capitalization of $50.80 billion, a PE ratio of 15.09, a price-to-earnings-growth ratio of 4.34 and a beta of 0.74.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, topping 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 business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.42 billion. During the same period in the prior year, the firm posted $1.35 EPS. On average, research analysts predict that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from TC Energy’s previous quarterly dividend of $0.82. This represents a $3.40 annualized dividend and a dividend yield of 6.96%. TC Energy’s payout ratio is currently 72.84%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TRP. Royal Bank of Canada upped their price target on shares of TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. TD Securities assumed coverage on TC Energy in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Citigroup assumed coverage on TC Energy in a research report on Friday, April 4th. They set a “neutral” rating for the company. StockNews.com downgraded TC Energy from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Finally, Veritas upgraded TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.