TC Energy Co. (NYSE:TRP) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board trimmed its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 24.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 21,896 shares of the pipeline company’s stock after selling 6,981 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in TC Energy were worth $1,019,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Addenda Capital Inc. lifted its stake in shares of TC Energy by 4.4% during the fourth quarter. Addenda Capital Inc. now owns 1,034,497 shares of the pipeline company’s stock worth $48,135,000 after purchasing an additional 43,639 shares in the last quarter. Ritholtz Wealth Management lifted its position in TC Energy by 44.8% during the 4th quarter. Ritholtz Wealth Management now owns 23,957 shares of the pipeline company’s stock worth $1,115,000 after acquiring an additional 7,412 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in TC Energy by 7.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 224,829 shares of the pipeline company’s stock worth $10,463,000 after acquiring an additional 16,334 shares during the period. Cinctive Capital Management LP grew its position in TC Energy by 12.3% in the fourth quarter. Cinctive Capital Management LP now owns 194,133 shares of the pipeline company’s stock valued at $9,042,000 after acquiring an additional 21,243 shares in the last quarter. Finally, Guardian Partners Inc. purchased a new stake in shares of TC Energy during the fourth quarter valued at approximately $8,614,000. 83.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TRP has been the subject of several analyst reports. US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. TD Securities started coverage on shares of TC Energy in a research report on Wednesday, January 15th. They issued a “buy” rating for the company. Royal Bank of Canada lifted their target price on TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. StockNews.com downgraded TC Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Finally, Veritas upgraded TC Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

TC Energy Trading Up 0.6 %

Shares of NYSE TRP opened at $48.88 on Thursday. The stock has a market capitalization of $50.80 billion, a P/E ratio of 15.09, a PEG ratio of 4.34 and a beta of 0.74. The stock’s 50 day moving average price is $46.69 and its two-hundred day moving average price is $46.97. 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 52-week low of $34.95 and a 52-week high of $50.37.

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

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a $0.85 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. This represents a $3.40 annualized dividend and a dividend yield of 6.96%. TC Energy’s payout ratio is 72.84%.

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.