TC Energy Co. (NYSE:TRP) Position Trimmed by Lincluden Management Ltd.

Lincluden Management Ltd. reduced its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 13.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,054,407 shares of the pipeline company’s stock after selling 164,440 shares during the period. TC Energy comprises 5.9% of Lincluden Management Ltd.’s portfolio, making the stock its 3rd biggest holding. Lincluden Management Ltd.’s holdings in TC Energy were worth $49,137,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. lifted 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 buying an additional 4,126,801 shares in the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in TC Energy in the 3rd quarter valued at about $73,162,000. Merewether Investment Management LP lifted its stake in 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 worth $194,776,000 after purchasing an additional 1,127,000 shares in the last quarter. Duff & Phelps Investment Management Co. boosted its holdings in shares of TC Energy by 70.7% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,763,915 shares of the pipeline company’s stock worth $83,874,000 after purchasing an additional 730,415 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP grew its position in shares of 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 in the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Stock Performance

NYSE TRP opened at $44.29 on Tuesday. The stock has a fifty day simple moving average of $46.44 and a 200-day simple moving average of $46.69. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56. The stock has a market cap of $46.02 billion, a PE ratio of 13.67, a P/E/G ratio of 4.34 and a beta of 0.81. TC Energy Co. has a twelve month low of $31.83 and a twelve month 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 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 net margin of 29.40% and a return on equity of 12.12%. During the same quarter last year, the firm posted $1.35 earnings per share. Equities analysts anticipate that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The business 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 $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 7.68%. The ex-dividend date is Monday, March 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s dividend payout ratio (DPR) is 71.91%.

Analyst Upgrades and Downgrades

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