Bradley Foster & Sargent Inc. CT Trims Stock Holdings in TC Energy Co. (NYSE:TRP)

Bradley Foster & Sargent Inc. CT lessened its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 3.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 127,077 shares of the pipeline company’s stock after selling 4,231 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in TC Energy were worth $5,913,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of TRP. CIBC Asset Management Inc boosted its position in TC Energy by 8.4% in the fourth quarter. CIBC Asset Management Inc now owns 7,123,344 shares of the pipeline company’s stock valued at $331,863,000 after buying an additional 551,980 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of TC Energy by 156.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company’s stock worth $321,778,000 after acquiring an additional 4,126,801 shares during the period. Geode Capital Management LLC raised its holdings in shares of TC Energy by 8.3% during the third quarter. Geode Capital Management LLC now owns 4,712,660 shares of the pipeline company’s stock worth $225,890,000 after purchasing an additional 360,548 shares during the last quarter. Merewether Investment Management LP lifted its position in TC Energy by 37.9% during the third 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 during the period. Finally, Kayne Anderson Capital Advisors LP boosted its holdings in TC Energy by 29.2% in the third quarter. Kayne Anderson Capital Advisors LP now owns 3,198,140 shares of the pipeline company’s stock valued at $152,072,000 after purchasing an additional 722,619 shares during the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. StockNews.com upgraded TC Energy from a “hold” rating to a “buy” rating in a research report on Wednesday. Veritas upgraded TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday. Royal Bank of Canada lifted their target price on shares of TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, TC Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

TC Energy Trading Down 1.3 %

Shares of NYSE:TRP opened at $44.94 on Friday. The firm has a market capitalization of $46.70 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 4.34 and a beta of 0.81. The business’s 50 day moving average price is $46.48 and its 200-day moving average price is $46.63. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23. TC Energy Co. has a 1 year low of $31.83 and a 1 year high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.54. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.42 billion. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. During the same quarter last year, the business earned $1.35 earnings per share. On average, equities research analysts forecast that TC Energy Co. 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 Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 7.57%. This is a boost from TC Energy’s previous quarterly dividend of $0.82. The ex-dividend date is Monday, March 31st. TC Energy’s payout ratio is presently 70.68%.

TC Energy Company 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.