TC Energy Co. (NYSE:TRP) Stock Holdings Lessened by Scheer Rowlett & Associates Investment Management Ltd.

Scheer Rowlett & Associates Investment Management Ltd. cut its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 0.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,018,506 shares of the pipeline company’s stock after selling 14,489 shares during the quarter. TC Energy makes up about 6.7% of Scheer Rowlett & Associates Investment Management Ltd.’s holdings, making the stock its 3rd biggest position. Scheer Rowlett & Associates Investment Management Ltd.’s holdings in TC Energy were worth $95,940,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of TRP. EdgeRock Capital LLC bought a new stake in TC Energy in the second quarter worth about $25,000. Whittier Trust Co. of Nevada Inc. grew its holdings in TC Energy by 138.8% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 429 shares during the period. Fortitude Family Office LLC purchased a new stake in TC Energy in the third quarter worth $28,000. Blue Trust Inc. raised its stake in shares of TC Energy by 72.0% in the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after buying an additional 267 shares during the period. Finally, Mather Group LLC. bought a new position in shares of TC Energy during the 2nd quarter worth $33,000. 83.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

TRP has been the topic of a number of research reports. JPMorgan Chase & Co. upgraded TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. StockNews.com initiated coverage on shares of TC Energy in a research note on Monday. They issued a “hold” rating for the company. The Goldman Sachs Group increased their target price on TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research report on Monday, October 21st. Finally, UBS Group upgraded TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. Two analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, TC Energy has a consensus rating of “Hold” and an average target price of $48.50.

TC Energy Price Performance

Shares of NYSE TRP traded down $0.58 during midday trading on Wednesday, hitting $49.25. 356,214 shares of the company’s stock were exchanged, compared to its average volume of 3,061,457. The business’s fifty day moving average price is $47.01 and its two-hundred day moving average price is $43.01. The company has a market cap of $51.11 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 4.12 and a beta of 0.81. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78. TC Energy Co. has a 12-month low of $31.83 and a 12-month high of $50.22.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.06. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. The firm had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.83 billion. As a group, research analysts forecast that TC Energy Co. will post 2.98 EPS for the current fiscal year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a dividend of $0.822 per share. This represents a $3.29 dividend on an annualized basis and a dividend yield of 6.68%. This is a boost from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Tuesday, December 31st. TC Energy’s dividend payout ratio (DPR) is currently 67.31%.

TC Energy Company 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.