TC Energy Corporation $TRP is Lincluden Management Ltd.’s 5th Largest Position

Lincluden Management Ltd. decreased its holdings in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 7.0% during the third quarter, according to its most recent filing with the SEC. The firm owned 825,906 shares of the pipeline company’s stock after selling 61,696 shares during the period. TC Energy accounts for about 5.1% of Lincluden Management Ltd.’s portfolio, making the stock its 5th largest position. Lincluden Management Ltd. owned 0.08% of TC Energy worth $44,640,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Westside Investment Management Inc. boosted its stake in shares of TC Energy by 100.0% during the third quarter. Westside Investment Management Inc. now owns 594 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 297 shares in the last quarter. SWAN Capital LLC bought a new position in TC Energy in the third quarter worth approximately $40,000. Smartleaf Asset Management LLC raised its stake in TC Energy by 237.4% in the third quarter. Smartleaf Asset Management LLC now owns 803 shares of the pipeline company’s stock worth $43,000 after buying an additional 565 shares in the last quarter. Larson Financial Group LLC lifted its holdings in TC Energy by 65.3% during the third quarter. Larson Financial Group LLC now owns 805 shares of the pipeline company’s stock worth $44,000 after buying an additional 318 shares during the period. Finally, Sagard Holdings Management Inc. purchased a new stake in TC Energy during the second quarter worth $46,000. Institutional investors own 83.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on TRP shares. Canadian Imperial Bank of Commerce downgraded TC Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Scotiabank restated an “outperform” rating on shares of TC Energy in a research note on Tuesday, February 17th. BMO Capital Markets reiterated an “outperform” rating on shares of TC Energy in a research note on Tuesday, February 17th. National Bank Financial downgraded shares of TC Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of TC Energy in a research report on Monday, December 29th. Seven research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $72.50.

TC Energy Stock Performance

Shares of TRP opened at $64.24 on Tuesday. The company has a current ratio of 0.63, a quick ratio of 0.56 and a debt-to-equity ratio of 1.66. The firm has a market cap of $66.89 billion, a PE ratio of 27.64 and a beta of 0.72. TC Energy Corporation has a 12 month low of $43.59 and a 12 month high of $65.57. The stock has a fifty day moving average price of $59.72 and a 200-day moving average price of $55.52.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Friday, February 13th. The pipeline company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.05. TC Energy had a return on equity of 10.52% and a net margin of 23.04%.The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the previous year, the business earned $1.05 EPS. Equities research analysts predict that TC Energy Corporation will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.8775 per share. The ex-dividend date is Tuesday, March 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.85. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.5%. TC Energy’s payout ratio is presently 106.90%.

TC Energy Profile

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.