TC Energy Co. (NYSE:TRP) Stake Lowered by Cardinal Capital Management Inc.

Cardinal Capital Management Inc. cut its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 1.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,499,532 shares of the pipeline company’s stock after selling 29,612 shares during the quarter. TC Energy accounts for approximately 3.9% of Cardinal Capital Management Inc.’s holdings, making the stock its 10th largest position. Cardinal Capital Management Inc. owned approximately 0.24% of TC Energy worth $116,223,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Intech Investment Management LLC grew its position in TC Energy by 14.3% during the second quarter. Intech Investment Management LLC now owns 32,936 shares of the pipeline company’s stock valued at $1,248,000 after buying an additional 4,127 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in TC Energy by 4.7% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 15,708 shares of the pipeline company’s stock valued at $596,000 after purchasing an additional 703 shares in the last quarter. AE Wealth Management LLC lifted its holdings in shares of TC Energy by 9.4% in the 2nd quarter. AE Wealth Management LLC now owns 8,550 shares of the pipeline company’s stock valued at $324,000 after acquiring an additional 738 shares during the last quarter. Ensign Peak Advisors Inc lifted its stake in shares of TC Energy by 3.4% in the 2nd quarter. Ensign Peak Advisors Inc now owns 67,607 shares of the pipeline company’s stock valued at $2,656,000 after purchasing an additional 2,200 shares during the last quarter. Finally, Evergreen Capital Management LLC lifted its position in TC Energy by 26.0% in the second quarter. Evergreen Capital Management LLC now owns 45,434 shares of the pipeline company’s stock worth $1,722,000 after buying an additional 9,364 shares during the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TRP has been the topic of several analyst reports. StockNews.com started coverage on shares of TC Energy in a report on Wednesday, December 4th. They set a “hold” rating on the stock. Veritas upgraded TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. UBS Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. Finally, TD Securities started coverage on TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $55.67.

TC Energy Stock Down 0.5 %

TRP opened at $47.19 on Thursday. The company has a fifty day moving average of $47.50 and a two-hundred day moving average of $45.81. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31. TC Energy Co. has a fifty-two week low of $31.83 and a fifty-two week high of $50.37. The stock has a market capitalization of $49.04 billion, a price-to-earnings ratio of 13.07, a PEG ratio of 4.48 and a beta of 0.82.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.70 by $0.06. The company had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. On average, research analysts expect that TC Energy Co. will post 2.95 earnings per share for the current year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.822 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. This represents a $3.29 dividend on an annualized basis and a yield of 6.97%. TC Energy’s payout ratio is presently 63.43%.

About TC Energy

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.