TC Energy Corporation $TRP Shares Sold by JARISLOWSKY FRASER Ltd

JARISLOWSKY FRASER Ltd decreased its holdings in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 4.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 10,751,401 shares of the pipeline company’s stock after selling 492,953 shares during the quarter. TC Energy makes up 3.2% of JARISLOWSKY FRASER Ltd’s portfolio, making the stock its 9th largest holding. JARISLOWSKY FRASER Ltd’s holdings in TC Energy were worth $584,705,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of TRP. apricus wealth LLC lifted its holdings in TC Energy by 2.7% in the third quarter. apricus wealth LLC now owns 57,385 shares of the pipeline company’s stock worth $3,122,000 after purchasing an additional 1,490 shares during the period. Bell Bank lifted its position in TC Energy by 1.5% in the third quarter. Bell Bank now owns 185,855 shares of the pipeline company’s stock worth $10,112,000 after purchasing an additional 2,741 shares during the period. PDS Planning Inc acquired a new stake in TC Energy in the third quarter worth approximately $218,000. Tectonic Advisors LLC boosted its stake in TC Energy by 29.3% during the 3rd quarter. Tectonic Advisors LLC now owns 24,807 shares of the pipeline company’s stock valued at $1,350,000 after purchasing an additional 5,615 shares in the last quarter. Finally, Generali Asset Management SPA SGR increased its position in shares of TC Energy by 51.6% during the 3rd quarter. Generali Asset Management SPA SGR now owns 20,752 shares of the pipeline company’s stock valued at $1,129,000 after purchasing an additional 7,061 shares during the period. 83.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Weiss Ratings restated a “buy (b-)” rating on shares of TC Energy in a report on Monday. Wall Street Zen raised shares of TC Energy from a “sell” rating to a “hold” rating in a report on Saturday, December 27th. Scotiabank restated an “outperform” rating on shares of TC Energy in a research report on Monday, October 20th. Citigroup restated a “neutral” rating on shares of TC Energy in a research report on Thursday, November 20th. Finally, Barclays reaffirmed an “overweight” rating on shares of TC Energy in a report on Tuesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, TC Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.00.

TC Energy Trading Up 1.7%

TC Energy stock opened at $55.95 on Friday. TC Energy Corporation has a 52 week low of $43.51 and a 52 week high of $56.34. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.56 and a current ratio of 0.63. The firm has a market capitalization of $58.23 billion, a price-to-earnings ratio of 24.12 and a beta of 0.72. The company has a 50 day moving average price of $53.74 and a 200 day moving average price of $51.57.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Thursday, November 6th. The pipeline company reported $0.56 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.56. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $2.63 billion. TC Energy had a return on equity of 10.61% and a net margin of 23.86%.During the same quarter in the prior year, the company earned $1.03 earnings per share. Research analysts forecast that TC Energy Corporation 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 Friday, January 30th. Stockholders of record on Wednesday, December 31st will be issued a $0.85 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $3.40 dividend on an annualized basis and a dividend yield of 6.1%. This is a positive change from TC Energy’s previous quarterly dividend of $0.61. TC Energy’s dividend payout ratio is currently 104.74%.

About TC Energy

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.