Tacita Capital Inc Reduces Stake in TC Energy Co. (NYSE:TRP)

Tacita Capital Inc reduced its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 4.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 68,010 shares of the pipeline company’s stock after selling 2,799 shares during the period. TC Energy makes up about 2.3% of Tacita Capital Inc’s investment portfolio, making the stock its 15th biggest position. Tacita Capital Inc’s holdings in TC Energy were worth $3,162,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC raised its holdings in TC Energy by 3.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 17,033 shares of the pipeline company’s stock valued at $810,000 after acquiring an additional 631 shares during the period. Financial Advocates Investment Management raised its holdings in TC Energy by 7.8% during the third quarter. Financial Advocates Investment Management now owns 6,950 shares of the pipeline company’s stock valued at $331,000 after acquiring an additional 501 shares during the period. Farther Finance Advisors LLC raised its holdings in TC Energy by 215.7% during the third quarter. Farther Finance Advisors LLC now owns 1,209 shares of the pipeline company’s stock valued at $57,000 after acquiring an additional 826 shares during the period. Janney Montgomery Scott LLC raised its holdings in TC Energy by 1.1% during the third quarter. Janney Montgomery Scott LLC now owns 77,906 shares of the pipeline company’s stock valued at $3,704,000 after acquiring an additional 840 shares during the period. Finally, Van ECK Associates Corp raised its holdings in TC Energy by 12.9% during the third quarter. Van ECK Associates Corp now owns 338,248 shares of the pipeline company’s stock valued at $15,880,000 after acquiring an additional 38,729 shares during the period. 83.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on TRP shares. Royal Bank of Canada lifted their target price on TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. TD Securities started coverage on TC Energy in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. StockNews.com raised TC Energy from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Veritas upgraded TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. Finally, BMO Capital Markets lifted their price target on TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $62.00.

TC Energy Stock Up 0.2 %

Shares of NYSE TRP opened at $44.82 on Tuesday. The firm has a market capitalization of $46.57 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 4.34 and a beta of 0.81. TC Energy Co. has a 52-week low of $31.83 and a 52-week high of $50.37. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55. The stock has a 50 day moving average price of $46.33 and a 200 day moving average price of $46.72.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.54. The company had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.42 billion. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. During the same quarter in the previous year, the firm posted $1.35 earnings per share. Sell-side analysts expect that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.82. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.59%. TC Energy’s dividend payout ratio is presently 71.91%.

TC Energy Company 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.