TC Energy Co. (NYSE:TRP) Shares Sold by Nicola Wealth Management LTD.

Nicola Wealth Management LTD. lowered its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 58.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 232,196 shares of the pipeline company’s stock after selling 323,600 shares during the quarter. Nicola Wealth Management LTD.’s holdings in TC Energy were worth $10,804,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. SBI Securities Co. Ltd. acquired a new stake in shares of TC Energy in the fourth quarter valued at about $31,000. Versant Capital Management Inc acquired a new stake in shares of TC Energy in the fourth quarter valued at about $33,000. Point72 DIFC Ltd acquired a new stake in shares of TC Energy in the third quarter valued at about $39,000. First Command Advisory Services Inc. acquired a new stake in shares of TC Energy in the fourth quarter valued at about $46,000. Finally, Rogco LP grew its stake in shares of TC Energy by 100.0% in the fourth quarter. Rogco LP now owns 1,000 shares of the pipeline company’s stock valued at $47,000 after buying an additional 500 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. TD Securities started coverage on TC Energy in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. StockNews.com upgraded TC Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. BMO Capital Markets raised their price objective on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. Finally, Veritas upgraded TC Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $62.00.

TC Energy Price Performance

Shares of TRP opened at $44.82 on Tuesday. The firm has a market cap of $46.57 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 4.34 and a beta of 0.81. The stock has a 50 day moving average of $46.33 and a 200-day moving average of $46.72. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56. TC Energy Co. has a 52 week low of $31.83 and a 52 week high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Friday, February 14th. The pipeline company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.51 by $0.54. The company had revenue of $2.56 billion during 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 quarter last year, the firm earned $1.35 EPS. As a group, analysts forecast that TC Energy Co. will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a $0.85 dividend. This is an increase from TC Energy’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.40 annualized dividend and a dividend yield of 7.59%. TC Energy’s dividend payout ratio (DPR) is 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.