Northwest & Ethical Investments L.P. Sells 131,848 Shares of TC Energy Co. (NYSE:TRP)

Northwest & Ethical Investments L.P. decreased its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 23.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 440,530 shares of the pipeline company’s stock after selling 131,848 shares during the period. Northwest & Ethical Investments L.P.’s holdings in TC Energy were worth $20,943,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. Signaturefd LLC grew its holdings in shares of TC Energy by 1.6% in the second quarter. Signaturefd LLC now owns 16,373 shares of the pipeline company’s stock valued at $621,000 after purchasing an additional 261 shares in the last quarter. Prospera Financial Services Inc grew its holdings in shares of TC Energy by 4.8% in the third quarter. Prospera Financial Services Inc now owns 5,754 shares of the pipeline company’s stock valued at $274,000 after purchasing an additional 262 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in shares of TC Energy by 8.1% in the third quarter. First Horizon Advisors Inc. now owns 3,505 shares of the pipeline company’s stock valued at $167,000 after purchasing an additional 264 shares in the last quarter. Blue Trust Inc. grew its holdings 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 purchasing an additional 267 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. grew its holdings in shares of TC Energy by 4.5% in the third quarter. Mesirow Financial Investment Management Inc. now owns 9,175 shares of the pipeline company’s stock valued at $436,000 after purchasing an additional 393 shares in the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TRP has been the subject of a number of recent research reports. JPMorgan Chase & Co. raised shares of TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. UBS Group raised shares of TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. The Goldman Sachs Group lifted their price objective on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research note on Monday, October 21st. Morgan Stanley raised shares of TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. Finally, BMO Capital Markets lifted their price objective on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, TC Energy has an average rating of “Hold” and a consensus price target of $55.67.

TC Energy Stock Down 0.7 %

Shares of TRP stock traded down $0.33 during trading hours on Thursday, reaching $48.41. 2,710,405 shares of the company’s stock were exchanged, compared to its average volume of 3,054,366. TC Energy Co. has a 1 year low of $31.83 and a 1 year high of $50.37. The stock has a market cap of $50.25 billion, a PE ratio of 13.41, 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. The stock’s fifty day moving average price is $47.36 and its two-hundred day moving average price is $43.45.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates 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. Research analysts predict that TC Energy Co. will post 2.98 EPS for the current 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 issued a dividend of $0.822 per share. This is an increase from TC Energy’s previous quarterly dividend of $0.70. 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 6.79%. TC Energy’s payout ratio is 67.31%.

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.