DORCHESTER WEALTH MANAGEMENT Co Sells 11,811 Shares of TC Energy Co. (NYSE:TRP)

DORCHESTER WEALTH MANAGEMENT Co decreased its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 4.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 268,821 shares of the pipeline company’s stock after selling 11,811 shares during the quarter. TC Energy comprises 2.2% of DORCHESTER WEALTH MANAGEMENT Co’s investment portfolio, making the stock its 12th largest holding. DORCHESTER WEALTH MANAGEMENT Co’s holdings in TC Energy were worth $12,595,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in TRP. Capital Research Global Investors lifted its holdings in TC Energy by 2.7% in the 1st quarter. Capital Research Global Investors now owns 57,170,304 shares of the pipeline company’s stock worth $2,297,701,000 after purchasing an additional 1,492,315 shares during the last quarter. Vanguard Group Inc. lifted its holdings in TC Energy by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 41,057,330 shares of the pipeline company’s stock worth $1,650,505,000 after purchasing an additional 653,031 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in TC Energy by 107.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 19,462,155 shares of the pipeline company’s stock worth $737,609,000 after purchasing an additional 10,065,000 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in TC Energy by 94.9% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 17,124,818 shares of the pipeline company’s stock worth $688,534,000 after purchasing an additional 8,339,800 shares during the last quarter. Finally, TD Asset Management Inc lifted its holdings in TC Energy by 9.5% in the 1st quarter. TD Asset Management Inc now owns 16,763,150 shares of the pipeline company’s stock worth $674,366,000 after purchasing an additional 1,458,732 shares during the last quarter. Institutional investors own 83.13% of the company’s stock.

TC Energy Stock Up 0.6 %

Shares of NYSE TRP traded up $0.27 during mid-day trading on Thursday, reaching $47.23. 86,504 shares of the company’s stock were exchanged, compared to its average volume of 3,186,394. The firm has a market capitalization of $49.02 billion, a price-to-earnings ratio of 19.24, a PEG ratio of 3.92 and a beta of 0.81. The company has a current ratio of 0.76, a quick ratio of 0.68 and a debt-to-equity ratio of 1.57. The business has a fifty day simple moving average of $46.08 and a 200 day simple moving average of $41.40. TC Energy Co. has a twelve month low of $30.61 and a twelve month high of $48.25.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.29. The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.78 billion. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. During the same period last year, the company earned $0.71 earnings per share. As a group, equities analysts expect that TC Energy Co. will post 3.02 EPS for the current fiscal year.

TC Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be issued a dividend of $0.702 per share. The ex-dividend date is Friday, September 27th. This represents a $2.81 dividend on an annualized basis and a dividend yield of 5.95%. TC Energy’s payout ratio is presently 116.80%.

Wall Street Analyst Weigh In

TRP has been the subject of several analyst reports. StockNews.com initiated coverage on TC Energy in a report on Saturday, October 5th. They issued a “hold” rating for the company. Barclays upgraded TC Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, July 17th. JPMorgan Chase & Co. upgraded TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. UBS Group upgraded TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. Finally, The Goldman Sachs Group upped their price target on TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a report on Monday. Two research 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. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $48.50.

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.