FDx Advisors Inc. Cuts Stake in TC Energy Co. (NYSE:TRP)

FDx Advisors Inc. cut its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 7.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,384 shares of the pipeline company’s stock after selling 345 shares during the period. FDx Advisors Inc.’s holdings in TC Energy were worth $204,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. CIBC Asset Management Inc lifted its holdings in shares of TC Energy by 8.4% in the fourth quarter. CIBC Asset Management Inc now owns 7,123,344 shares of the pipeline company’s stock worth $331,863,000 after buying an additional 551,980 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in TC Energy by 156.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company’s stock valued at $321,778,000 after acquiring an additional 4,126,801 shares during the last quarter. Geode Capital Management LLC lifted its stake in TC Energy by 8.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,712,660 shares of the pipeline company’s stock worth $225,890,000 after purchasing an additional 360,548 shares in the last quarter. Merewether Investment Management LP boosted its holdings in shares of TC Energy by 37.9% during the 3rd quarter. Merewether Investment Management LP now owns 4,097,600 shares of the pipeline company’s stock valued at $194,776,000 after purchasing an additional 1,127,000 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP grew its position in shares of TC Energy by 29.2% during the third quarter. Kayne Anderson Capital Advisors LP now owns 3,198,140 shares of the pipeline company’s stock valued at $152,072,000 after purchasing an additional 722,619 shares in the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on TRP shares. TD Securities assumed coverage on TC Energy in a research report on Wednesday, January 15th. They issued a “buy” rating on the stock. Veritas upgraded TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday. US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. Royal Bank of Canada upped their price target on shares of TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, StockNews.com raised shares of TC Energy from a “hold” rating to a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

TC Energy Trading Down 1.3 %

TRP stock opened at $44.94 on Friday. The firm’s fifty day simple moving average is $46.48 and its two-hundred day simple moving average is $46.63. The stock has a market capitalization of $46.70 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 4.37 and a beta of 0.81. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56. TC Energy Co. has a twelve month low of $31.83 and a twelve month high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.54. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.42 billion. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. During the same period in the prior year, the company posted $1.35 EPS. As a group, analysts anticipate that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a dividend of $0.85 per share. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.57%. The ex-dividend date of this dividend is Monday, March 31st. TC Energy’s dividend payout ratio (DPR) is currently 71.91%.

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.