Investment Management Corp of Ontario Has $4.55 Million Holdings in TC Energy Co. (NYSE:TRP)

Investment Management Corp of Ontario decreased its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 2.7% during the third quarter, HoldingsChannel.com reports. The fund owned 105,092 shares of the pipeline company’s stock after selling 2,952 shares during the period. Investment Management Corp of Ontario’s holdings in TC Energy were worth $4,552,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in TRP. B. Riley Wealth Advisors Inc. raised its position in shares of TC Energy by 38.2% in the first quarter. B. Riley Wealth Advisors Inc. now owns 7,253 shares of the pipeline company’s stock valued at $292,000 after purchasing an additional 2,003 shares during the period. Cetera Investment Advisers lifted its position in TC Energy by 74.1% during the 1st quarter. Cetera Investment Advisers now owns 98,729 shares of the pipeline company’s stock worth $3,972,000 after acquiring an additional 42,024 shares during the last quarter. Cetera Advisors LLC boosted its holdings in TC Energy by 499.4% during the first quarter. Cetera Advisors LLC now owns 47,707 shares of the pipeline company’s stock valued at $1,919,000 after acquiring an additional 39,748 shares during the period. Mather Group LLC. acquired a new stake in shares of TC Energy in the second quarter valued at about $33,000. Finally, Simplicity Wealth LLC grew its position in shares of TC Energy by 1.9% in the second quarter. Simplicity Wealth LLC now owns 126,501 shares of the pipeline company’s stock valued at $4,794,000 after purchasing an additional 2,329 shares during the last quarter. 83.13% of the stock is owned by institutional investors.

TC Energy Stock Up 0.1 %

NYSE TRP opened at $48.65 on Wednesday. TC Energy Co. has a 1-year low of $31.83 and a 1-year high of $50.37. The company has a market capitalization of $50.50 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 4.05 and a beta of 0.82. The stock’s 50 day moving average is $47.55 and its two-hundred day moving average is $43.75. 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 (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.70 by $0.06. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.83 billion. Equities analysts forecast that TC Energy Co. will post 3 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.822 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.29 dividend on an annualized basis and a dividend yield of 6.76%. This is a boost from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s dividend payout ratio (DPR) is 78.95%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on TRP shares. The Goldman Sachs Group increased their target price on TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research note on Monday, October 21st. BMO Capital Markets upped their target price on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. StockNews.com assumed coverage on shares of TC Energy in a report on Wednesday. They set a “hold” rating on the stock. JPMorgan Chase & Co. raised TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. Finally, Veritas raised TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, TC Energy currently has a consensus rating of “Hold” and an average price target of $55.67.

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.