Triasima Portfolio Management inc. Reduces Stock Position in TC Energy Co. (NYSE:TRP)

Triasima Portfolio Management inc. lowered its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 1.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 149,250 shares of the pipeline company’s stock after selling 1,450 shares during the period. Triasima Portfolio Management inc.’s holdings in TC Energy were worth $5,841,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TRP. Norges Bank bought a new position in TC Energy in the 4th quarter worth $519,894,000. National Bank of Canada FI raised its holdings in TC Energy by 68.2% in the 3rd quarter. National Bank of Canada FI now owns 19,993,928 shares of the pipeline company’s stock worth $668,801,000 after purchasing an additional 8,103,785 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in TC Energy by 70.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 16,540,018 shares of the pipeline company’s stock worth $569,058,000 after purchasing an additional 6,840,000 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in TC Energy by 18.0% in the 3rd quarter. Canada Pension Plan Investment Board now owns 24,574,983 shares of the pipeline company’s stock worth $849,037,000 after purchasing an additional 3,740,495 shares in the last quarter. Finally, Blackstone Inc. increased its stake in shares of TC Energy by 540.4% in the 3rd quarter. Blackstone Inc. now owns 3,117,031 shares of the pipeline company’s stock worth $107,257,000 after acquiring an additional 2,630,324 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors.

TC Energy Stock Performance

NYSE TRP traded down $0.67 during trading hours on Friday, hitting $36.11. 4,628,877 shares of the company’s stock traded hands, compared to its average volume of 4,003,592. The business’s fifty day moving average price is $39.29 and its two-hundred day moving average price is $37.93. The company has a current ratio of 0.96, a quick ratio of 0.88 and a debt-to-equity ratio of 1.65. The firm has a market capitalization of $36.11 billion, a P/E ratio of 17.79, a P/E/G ratio of 3.08 and a beta of 0.75. TC Energy Co. has a 52 week low of $32.51 and a 52 week high of $42.76.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Friday, February 16th. The pipeline company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.20. The business had revenue of $3.11 billion during the quarter, compared to analyst estimates of $2.93 billion. TC Energy had a net margin of 18.25% and a return on equity of 18.60%. Equities research analysts predict that TC Energy Co. will post 2.99 EPS for the current year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be issued a $0.714 dividend. This represents a $2.86 annualized dividend and a dividend yield of 7.91%. The ex-dividend date of this dividend is Wednesday, March 27th. This is an increase from TC Energy’s previous quarterly dividend of $0.67. TC Energy’s payout ratio is 139.41%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TRP. Stifel Nicolaus began coverage on shares of TC Energy in a research note on Thursday, January 18th. They issued a “buy” rating for the company. Jefferies Financial Group began coverage on shares of TC Energy in a research note on Tuesday, February 27th. They issued a “hold” rating for the company. TheStreet upgraded shares of TC Energy from a “c+” rating to a “b-” rating in a research note on Wednesday, March 20th. Barclays increased their price objective on shares of TC Energy from $53.00 to $55.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. Finally, The Goldman Sachs Group increased their price objective on shares of TC Energy from $29.00 to $32.00 and gave the company a “sell” rating in a research report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $48.83.

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.