TC Energy Co. (NYSE:TRP) is Scheer Rowlett & Associates Investment Management Ltd.’s 4th Largest Position

Scheer Rowlett & Associates Investment Management Ltd. decreased its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 8.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,851,112 shares of the pipeline company’s stock after selling 167,394 shares during the quarter. TC Energy accounts for about 6.3% of Scheer Rowlett & Associates Investment Management Ltd.’s portfolio, making the stock its 4th largest position. Scheer Rowlett & Associates Investment Management Ltd.’s holdings in TC Energy were worth $86,157,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new position in shares of TC Energy during the fourth quarter valued at about $31,000. Versant Capital Management Inc purchased a new stake in TC Energy during the 4th quarter valued at $33,000. Synergy Investment Management LLC bought a new position in TC Energy during the 4th quarter valued at about $36,000. Point72 DIFC Ltd purchased a new position in TC Energy in the third quarter worth about $39,000. Finally, First Command Advisory Services Inc. purchased a new stake in TC Energy during the fourth quarter valued at approximately $46,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Stock Up 0.8 %

TRP stock opened at $45.86 on Friday. The firm has a 50-day simple moving average of $46.28 and a 200-day simple moving average of $46.72. TC Energy Co. has a 52 week low of $31.83 and a 52 week high of $50.37. The stock has a market capitalization of $47.66 billion, a P/E ratio of 14.15, a P/E/G ratio of 4.34 and a beta of 0.83. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.51 by $0.54. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. The firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.42 billion. During the same quarter in the previous year, the company earned $1.35 EPS. Equities analysts forecast that TC Energy Co. will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.85 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.40 dividend on an annualized basis and a yield of 7.41%. This is an increase from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s payout ratio is currently 72.53%.

Analyst Ratings Changes

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

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.