AGF Management Ltd. Sells 214,828 Shares of TC Energy Co. (NYSE:TRP)

AGF Management Ltd. lessened its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 17.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,011,101 shares of the pipeline company’s stock after selling 214,828 shares during the quarter. AGF Management Ltd. owned 0.10% of TC Energy worth $38,321,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of TRP. Natixis Advisors L.P. increased its stake in TC Energy by 49.8% during the 4th quarter. Natixis Advisors L.P. now owns 32,890 shares of the pipeline company’s stock valued at $1,285,000 after purchasing an additional 10,929 shares in the last quarter. Private Advisor Group LLC bought a new stake in shares of TC Energy in the 4th quarter worth $208,000. Principal Securities Inc. bought a new stake in shares of TC Energy in the 4th quarter worth $276,000. Dimensional Fund Advisors LP grew its stake in shares of TC Energy by 16.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,864,214 shares of the pipeline company’s stock worth $111,964,000 after acquiring an additional 411,133 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its stake in shares of TC Energy by 13.7% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 11,035 shares of the pipeline company’s stock worth $431,000 after acquiring an additional 1,331 shares in the last quarter. Institutional investors own 83.13% of the company’s stock.

TC Energy Stock Performance

NYSE TRP opened at $45.88 on Thursday. TC Energy Co. has a 1 year low of $32.51 and a 1 year high of $47.38. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.76 and a quick ratio of 0.68. The firm has a market cap of $47.60 billion, a price-to-earnings ratio of 23.65, a PEG ratio of 3.81 and a beta of 0.81. The company has a fifty day moving average price of $42.91 and a 200-day moving average price of $40.05.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.29. The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.78 billion. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. During the same period in the previous year, the firm earned $0.71 EPS. As a group, equities research analysts predict that TC Energy Co. will post 3.06 EPS for the current fiscal year.

TC Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be issued a $0.702 dividend. This represents a $2.81 dividend on an annualized basis and a dividend yield of 6.12%. The ex-dividend date of this dividend is Friday, September 27th. TC Energy’s dividend payout ratio (DPR) is currently 144.85%.

Analyst Upgrades and Downgrades

Separately, Barclays upgraded shares of TC Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, July 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $43.50.

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.