Beutel Goodman & Co Ltd. Cuts Position in TC Energy Co. (NYSE:TRP)

Beutel Goodman & Co Ltd. reduced its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 10.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,645,095 shares of the pipeline company’s stock after selling 759,047 shares during the quarter. TC Energy makes up 1.7% of Beutel Goodman & Co Ltd.’s investment portfolio, making the stock its 29th largest position. Beutel Goodman & Co Ltd.’s holdings in TC Energy were worth $309,521,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TRP. Orion Portfolio Solutions LLC raised its position in shares of TC Energy by 6.9% in the 4th quarter. Orion Portfolio Solutions LLC now owns 7,764 shares of the pipeline company’s stock worth $361,000 after buying an additional 502 shares during the period. Premier Fund Managers Ltd boosted its holdings in TC Energy by 56.3% in the fourth quarter. Premier Fund Managers Ltd now owns 50,000 shares of the pipeline company’s stock valued at $2,330,000 after purchasing an additional 18,000 shares during the last quarter. Duff & Phelps Investment Management Co. grew its position in shares of TC Energy by 2.6% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 1,809,457 shares of the pipeline company’s stock worth $84,194,000 after buying an additional 45,542 shares in the last quarter. Norges Bank bought a new position in shares of TC Energy during the fourth quarter worth about $428,759,000. Finally, Korea Investment CORP raised its position in shares of TC Energy by 108.5% during the 4th quarter. Korea Investment CORP now owns 625,606 shares of the pipeline company’s stock valued at $29,140,000 after acquiring an additional 325,627 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on TRP shares. StockNews.com lowered shares of TC Energy from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. TD Securities began coverage on shares of TC Energy in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. Royal Bank of Canada upped 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. Finally, Veritas upgraded shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 18th. One 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

TC Energy Stock Down 0.5 %

TC Energy stock opened at $48.02 on Friday. The firm has a market capitalization of $49.90 billion, a price-to-earnings ratio of 14.82, a PEG ratio of 4.34 and a beta of 0.83. TC Energy Co. has a fifty-two week low of $34.95 and a fifty-two week high of $50.37. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23. The company’s 50 day simple moving average is $46.54 and its 200 day simple moving average is $46.93.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 EPS for the quarter, topping 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 business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.42 billion. During the same quarter in the previous year, the firm posted $1.35 earnings per share. As a group, sell-side analysts anticipate that TC Energy Co. will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.85 per share. 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 dividend on an annualized basis and a dividend yield of 7.08%. TC Energy’s payout ratio is presently 72.53%.

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.