Scheer Rowlett & Associates Investment Management Ltd. Sells 53,699 Shares of TC Energy Corporation $TRP

Scheer Rowlett & Associates Investment Management Ltd. lowered its position in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 3.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,643,567 shares of the pipeline company’s stock after selling 53,699 shares during the period. TC Energy comprises about 5.2% of Scheer Rowlett & Associates Investment Management Ltd.’s portfolio, making the stock its 5th biggest position. Scheer Rowlett & Associates Investment Management Ltd. owned about 0.16% of TC Energy worth $80,193,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Park Avenue Securities LLC boosted its stake in shares of TC Energy by 2.3% during the second quarter. Park Avenue Securities LLC now owns 9,947 shares of the pipeline company’s stock valued at $485,000 after purchasing an additional 225 shares in the last quarter. Gold Investment Management Ltd. increased its stake in shares of TC Energy by 2.5% in the second quarter. Gold Investment Management Ltd. now owns 9,656 shares of the pipeline company’s stock valued at $471,000 after buying an additional 232 shares during the period. Baader Bank Aktiengesellschaft raised its holdings in TC Energy by 4.4% in the 1st quarter. Baader Bank Aktiengesellschaft now owns 6,325 shares of the pipeline company’s stock valued at $289,000 after buying an additional 264 shares during the last quarter. Compound Planning Inc. boosted its position in TC Energy by 2.1% during the 1st quarter. Compound Planning Inc. now owns 13,806 shares of the pipeline company’s stock worth $652,000 after buying an additional 288 shares during the period. Finally, Prudential PLC boosted its position in TC Energy by 5.2% during the 1st quarter. Prudential PLC now owns 6,536 shares of the pipeline company’s stock worth $309,000 after buying an additional 326 shares during the period. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Stock Performance

NYSE:TRP opened at $52.18 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.54. TC Energy Corporation has a twelve month low of $43.51 and a twelve month high of $55.37. The company has a fifty day moving average of $52.17 and a 200-day moving average of $50.31. The firm has a market capitalization of $54.29 billion, a P/E ratio of 17.81, a P/E/G ratio of 4.82 and a beta of 0.73.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Thursday, November 6th. The pipeline company reported $0.56 EPS for the quarter, hitting analysts’ consensus estimates of $0.56. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $2.63 billion. During the same period last year, the company posted $1.03 earnings per share. As a group, sell-side analysts anticipate that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be paid a $0.85 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $3.40 annualized dividend and a dividend yield of 6.5%. This is a boost from TC Energy’s previous quarterly dividend of $0.61. TC Energy’s dividend payout ratio (DPR) is 84.30%.

Wall Street Analyst Weigh In

TRP has been the subject of several analyst reports. TD Securities reaffirmed a “buy” rating on shares of TC Energy in a research note on Friday, October 17th. Royal Bank Of Canada increased their price objective on TC Energy from $74.00 to $84.00 and gave the company an “outperform” rating in a report on Friday. Weiss Ratings lowered TC Energy from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday. Scotiabank reaffirmed an “outperform” rating on shares of TC Energy in a report on Monday, October 20th. Finally, Cibc Captl Mkts upgraded TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, TC Energy has an average rating of “Moderate Buy” and an average price target of $77.00.

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.