Nicola Wealth Management LTD. Reduces Stake in TC Energy Corporation $TRP

Nicola Wealth Management LTD. cut its stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 13.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,000,000 shares of the pipeline company’s stock after selling 302,996 shares during the period. TC Energy comprises approximately 10.0% of Nicola Wealth Management LTD.’s investment portfolio, making the stock its largest holding. Nicola Wealth Management LTD. owned 0.19% of TC Energy worth $110,147,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in TC Energy by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 47,801,695 shares of the pipeline company’s stock valued at $2,632,200,000 after acquiring an additional 980,221 shares in the last quarter. Capital Research Global Investors lifted its stake in TC Energy by 2.5% during the 3rd quarter. Capital Research Global Investors now owns 41,977,582 shares of the pipeline company’s stock valued at $2,282,469,000 after acquiring an additional 1,041,864 shares in the last quarter. TD Asset Management Inc lifted its stake in TC Energy by 2.9% during the 3rd quarter. TD Asset Management Inc now owns 19,624,247 shares of the pipeline company’s stock valued at $1,067,246,000 after acquiring an additional 550,066 shares in the last quarter. Mackenzie Financial Corp lifted its stake in TC Energy by 4.4% during the 3rd quarter. Mackenzie Financial Corp now owns 13,351,862 shares of the pipeline company’s stock valued at $725,816,000 after acquiring an additional 557,794 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in TC Energy by 4.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,237,084 shares of the pipeline company’s stock valued at $611,410,000 after acquiring an additional 512,759 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors.

TC Energy Trading Down 0.1%

Shares of TRP opened at $70.82 on Monday. The business has a 50-day moving average of $64.23 and a 200 day moving average of $59.48. TC Energy Corporation has a fifty-two week low of $46.29 and a fifty-two week high of $71.47. The firm has a market cap of $70.82 billion, a P/E ratio of 30.74 and a beta of 0.67. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.57 and a current ratio of 0.65.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Friday, May 1st. The pipeline company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.02. TC Energy had a return on equity of 10.74% and a net margin of 22.22%.The company had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same quarter last year, the firm posted $0.95 EPS. As a group, research analysts forecast that TC Energy Corporation will post 2.75 EPS for the current year.

TC Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be paid a $0.8775 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $3.51 annualized dividend and a yield of 5.0%. TC Energy’s dividend payout ratio (DPR) is currently 109.57%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TRP. Wall Street Zen upgraded TC Energy from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Weiss Ratings lowered TC Energy from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 4th. BMO Capital Markets reaffirmed an “outperform” rating on shares of TC Energy in a research report on Monday, May 4th. National Bank Financial raised TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 4th. Finally, Citigroup reaffirmed a “neutral” rating on shares of TC Energy in a research report on Thursday, February 19th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $78.50.

TC Energy Company 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.