Mondrian Investment Partners LTD Reduces Position in TC Energy Co. (NYSE:TRP)

Mondrian Investment Partners LTD decreased its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 34.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,183,645 shares of the pipeline company’s stock after selling 2,210,119 shares during the quarter. TC Energy makes up approximately 3.4% of Mondrian Investment Partners LTD’s portfolio, making the stock its 6th largest holding. Mondrian Investment Partners LTD’s holdings in TC Energy were worth $194,665,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of TRP. 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 buying an additional 4,126,801 shares during the period. Kayne Anderson Capital Advisors LP boosted its stake in shares of TC Energy by 51.4% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 4,842,255 shares of the pipeline company’s stock valued at $225,310,000 after purchasing an additional 1,644,115 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of TC Energy in the 4th quarter valued at $75,464,000. Zurich Insurance Group Ltd FI acquired a new stake in shares of TC Energy in the 3rd quarter valued at $73,162,000. Finally, Merewether Investment Management LP boosted its stake in shares of TC Energy by 37.9% in 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 in the last quarter. Institutional investors own 83.13% of the company’s stock.

TC Energy Price Performance

NYSE TRP opened at $46.65 on Friday. 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 12-month low of $34.95 and a 12-month high of $50.37. The company has a market capitalization of $48.47 billion, a PE ratio of 14.40, a price-to-earnings-growth ratio of 4.34 and a beta of 0.83. The firm’s 50 day moving average is $46.26 and its 200-day moving average is $46.77.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.54. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.42 billion. During the same period last year, the company earned $1.35 earnings per share. Equities research 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 disclosed 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 is Monday, March 31st. This is an increase 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 7.29%. TC Energy’s dividend payout ratio (DPR) is 72.53%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. StockNews.com downgraded shares of TC Energy from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. BMO Capital Markets raised their target price on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. TD Securities started coverage on shares of TC Energy in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Veritas upgraded shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. Finally, Royal Bank of Canada increased their price target on shares of TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, TC Energy currently has a consensus rating of “Moderate Buy” and an average price target 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.