Lincluden Management Ltd. Lowers Stock Position in TC Energy Corporation $TRP

Lincluden Management Ltd. trimmed its position in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 12.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 887,602 shares of the pipeline company’s stock after selling 124,678 shares during the quarter. TC Energy accounts for approximately 4.8% of Lincluden Management Ltd.’s holdings, making the stock its 4th largest position. Lincluden Management Ltd.’s holdings in TC Energy were worth $43,293,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of TC Energy by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 44,397,978 shares of the pipeline company’s stock valued at $2,096,739,000 after buying an additional 710,837 shares during the period. Canada Pension Plan Investment Board lifted its holdings in shares of TC Energy by 34.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 19,808,558 shares of the pipeline company’s stock valued at $935,627,000 after buying an additional 5,053,228 shares during the period. TD Asset Management Inc lifted its holdings in shares of TC Energy by 6.2% during the 1st quarter. TD Asset Management Inc now owns 17,455,740 shares of the pipeline company’s stock valued at $824,243,000 after buying an additional 1,018,590 shares during the period. Bank of Nova Scotia lifted its holdings in shares of TC Energy by 80.3% during the 1st quarter. Bank of Nova Scotia now owns 16,983,443 shares of the pipeline company’s stock valued at $802,164,000 after buying an additional 7,562,887 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of TC Energy by 2,565.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 16,306,187 shares of the pipeline company’s stock valued at $769,815,000 after buying an additional 15,694,336 shares during the period. 83.13% of the stock is owned by institutional investors.

TC Energy Stock Performance

Shares of NYSE TRP opened at $52.82 on Friday. The firm has a fifty day moving average price of $52.01 and a 200-day moving average price of $49.79. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.61 and a quick ratio of 0.54. The stock has a market cap of $54.95 billion, a PE ratio of 18.03, a price-to-earnings-growth ratio of 4.94 and a beta of 0.75. TC Energy Corporation has a 1 year low of $43.51 and a 1 year high of $55.37.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Thursday, July 31st. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.03. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $2.56 billion. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. During the same period in the prior year, the company posted $0.79 earnings per share. Equities analysts anticipate that TC Energy Corporation will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be paid a $0.6148 dividend. This represents a $2.46 dividend on an annualized basis and a dividend yield of 4.7%. This is a boost from TC Energy’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Monday, September 29th. TC Energy’s dividend payout ratio is currently 84.30%.

Analysts Set New Price Targets

TRP has been the subject of a number of research reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of TC Energy in a report on Wednesday. Wall Street Zen cut shares of TC Energy from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. US Capital Advisors cut shares of TC Energy from a “moderate buy” rating to a “hold” rating in a report on Thursday, August 21st. Barclays reaffirmed an “overweight” rating on shares of TC Energy in a report on Thursday, August 14th. Finally, Cibc World Mkts cut shares of TC Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $62.00.

TC Energy 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.