Intact Investment Management Inc. Sells 1,218,396 Shares of TC Energy Co. (NYSE:TRP)

Intact Investment Management Inc. cut its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 61.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 775,184 shares of the pipeline company’s stock after selling 1,218,396 shares during the period. TC Energy accounts for 1.2% of Intact Investment Management Inc.’s investment portfolio, making the stock its 26th largest holding. Intact Investment Management Inc.’s holdings in TC Energy were worth $30,282,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in TRP. IFP Advisors Inc boosted its holdings in TC Energy by 74.8% in the third quarter. IFP Advisors Inc now owns 3,455 shares of the pipeline company’s stock valued at $119,000 after acquiring an additional 1,478 shares during the last quarter. SG Americas Securities LLC boosted its holdings in TC Energy by 747.1% in the third quarter. SG Americas Securities LLC now owns 22,627 shares of the pipeline company’s stock valued at $779,000 after acquiring an additional 19,956 shares during the last quarter. Private Trust Co. NA boosted its holdings in TC Energy by 10.2% in the third quarter. Private Trust Co. NA now owns 5,817 shares of the pipeline company’s stock valued at $200,000 after acquiring an additional 540 shares during the last quarter. Simplicity Solutions LLC boosted its holdings in TC Energy by 1.7% in the third quarter. Simplicity Solutions LLC now owns 112,622 shares of the pipeline company’s stock valued at $3,876,000 after acquiring an additional 1,880 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in TC Energy by 10.0% in the third quarter. Commonwealth Equity Services LLC now owns 92,505 shares of the pipeline company’s stock valued at $3,183,000 after acquiring an additional 8,378 shares during the last quarter. 83.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

TC Energy Stock Up 0.0 %

NYSE TRP traded up $0.01 on Friday, reaching $36.10. The company had a trading volume of 2,934,696 shares, compared to its average volume of 4,243,999. The stock has a market capitalization of $36.10 billion, a P/E ratio of 17.77, a P/E/G ratio of 3.12 and a beta of 0.75. The company’s fifty day moving average is $38.83 and its 200 day moving average is $38.04. TC Energy Co. has a 52-week low of $32.51 and a 52-week high of $42.49. The company has a quick ratio of 0.88, a current ratio of 0.96 and a debt-to-equity ratio of 1.65.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Friday, February 16th. The pipeline company reported $0.99 EPS for the quarter, beating 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 return on equity of 18.60% and a net margin of 18.25%. Sell-side analysts anticipate that TC Energy Co. will post 2.89 earnings per share for the current fiscal year.

TC Energy Increases Dividend

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

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.