Cidel Asset Management Inc. Sells 389 Shares of TC Energy Corporation $TRP

Cidel Asset Management Inc. lessened its position in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 1.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,410 shares of the pipeline company’s stock after selling 389 shares during the quarter. Cidel Asset Management Inc.’s holdings in TC Energy were worth $1,043,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of TRP. Hilltop National Bank bought a new position in TC Energy in the 2nd quarter worth $32,000. Harbor Asset Planning Inc. bought a new position in TC Energy in the 2nd quarter worth $43,000. TruNorth Capital Management LLC bought a new position in TC Energy in the 1st quarter worth $45,000. Truvestments Capital LLC bought a new position in TC Energy in the 1st quarter worth $45,000. Finally, Golden State Wealth Management LLC raised its holdings in TC Energy by 222.2% in the 1st quarter. Golden State Wealth Management LLC now owns 1,076 shares of the pipeline company’s stock worth $51,000 after acquiring an additional 742 shares during the period. Institutional investors own 83.13% of the company’s stock.

TC Energy Stock Performance

NYSE TRP opened at $51.47 on Friday. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.61 and a quick ratio of 0.54. The firm has a market capitalization of $53.54 billion, a price-to-earnings ratio of 17.57, a P/E/G ratio of 4.84 and a beta of 0.75. The company’s fifty day moving average is $52.27 and its two-hundred day moving average is $49.93. TC Energy Corporation has a 52-week low of $43.51 and a 52-week high of $55.37.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Thursday, July 31st. The pipeline company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.03. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same period in the previous year, the business earned $0.79 EPS. Equities research analysts forecast that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be given a dividend of $0.6148 per share. This is an increase from TC Energy’s previous quarterly dividend of $0.61. The ex-dividend date is Monday, September 29th. This represents a $2.46 annualized dividend and a dividend yield of 4.8%. TC Energy’s dividend payout ratio (DPR) is presently 84.30%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. US Capital Advisors downgraded shares of TC Energy from a “moderate buy” rating to a “hold” rating in a report on Thursday, August 21st. Cibc World Mkts lowered shares of TC Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. Weiss Ratings restated a “buy (b-)” rating on shares of TC Energy in a research report on Wednesday, October 8th. Wall Street Zen lowered shares of TC Energy from a “hold” rating to a “sell” rating in a research report on Friday, October 3rd. Finally, TD Securities restated a “buy” rating on shares of TC Energy in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

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.