Northwest & Ethical Investments L.P. Sells 6,433 Shares of TC Energy Corporation $TRP

Northwest & Ethical Investments L.P. lowered its holdings in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 2.1% in the 2nd quarter, Holdings Channel reports. The firm owned 295,819 shares of the pipeline company’s stock after selling 6,433 shares during the period. Northwest & Ethical Investments L.P.’s holdings in TC Energy were worth $14,467,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of TRP. Vanguard Group Inc. raised its position in TC Energy by 3.4% in the 2nd quarter. Vanguard Group Inc. now owns 45,907,306 shares of the pipeline company’s stock worth $2,241,195,000 after buying an additional 1,509,328 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of TC Energy by 34.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 19,808,558 shares of the pipeline company’s stock valued at $935,627,000 after acquiring an additional 5,053,228 shares during the last quarter. TD Asset Management Inc boosted its holdings in shares of TC Energy by 9.3% during the 2nd quarter. TD Asset Management Inc now owns 19,074,181 shares of the pipeline company’s stock valued at $929,316,000 after acquiring an additional 1,618,441 shares during the last quarter. Bank of Nova Scotia grew its stake in shares of TC Energy by 80.3% in the first quarter. Bank of Nova Scotia now owns 16,983,443 shares of the pipeline company’s stock worth $802,164,000 after acquiring an additional 7,562,887 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in shares of TC Energy by 2,565.1% during the first quarter. Goldman Sachs Group Inc. now owns 16,306,187 shares of the pipeline company’s stock valued at $769,815,000 after purchasing an additional 15,694,336 shares during the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Cibc World Mkts cut TC Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. TD Securities reiterated a “buy” rating on shares of TC Energy in a research note on Friday, October 17th. BMO Capital Markets raised shares of TC Energy from a “market perform” rating to an “outperform” rating in a report on Friday, November 7th. Citigroup reaffirmed a “neutral” rating on shares of TC Energy in a research note on Thursday, November 20th. Finally, US Capital Advisors lowered shares of TC Energy from a “moderate buy” rating to a “hold” rating in a report on Thursday, August 21st. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.00.

TC Energy Stock Up 0.1%

NYSE TRP opened at $53.66 on Wednesday. TC Energy Corporation has a one year low of $43.51 and a one year high of $55.37. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.54 and a current ratio of 0.61. The stock has a 50 day moving average price of $52.71 and a 200-day moving average price of $50.66. The company has a market capitalization of $55.84 billion, a P/E ratio of 18.31, a P/E/G ratio of 4.82 and a beta of 0.73.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Thursday, November 6th. The pipeline company reported $0.56 earnings per share for the quarter, meeting the consensus estimate of $0.56. TC Energy had a return on equity of 11.22% and a net margin of 28.98%.The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $2.63 billion. During the same quarter in the prior year, the firm posted $1.03 EPS. As a group, equities analysts predict that TC Energy Corporation will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be paid a dividend of $0.85 per share. This is a boost from TC Energy’s previous quarterly dividend of $0.61. This represents a $3.40 annualized dividend and a dividend yield of 6.3%. The ex-dividend date of this dividend is Wednesday, December 31st. TC Energy’s payout ratio is presently 103.88%.

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.