Aviso Financial Inc. Sells 20,829 Shares of TC Energy Co. (NYSE:TRP)

Aviso Financial Inc. decreased its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 7.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 241,658 shares of the pipeline company’s stock after selling 20,829 shares during the quarter. Aviso Financial Inc.’s holdings in TC Energy were worth $11,259,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Achmea Investment Management B.V. purchased a new stake in shares of TC Energy during the 4th quarter worth $19,969,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in TC Energy by 6.0% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,175,940 shares of the pipeline company’s stock valued at $333,993,000 after buying an additional 405,965 shares during the last quarter. Avantax Advisory Services Inc. raised its stake in TC Energy by 9.5% in the fourth quarter. Avantax Advisory Services Inc. now owns 9,564 shares of the pipeline company’s stock valued at $445,000 after buying an additional 829 shares during the last quarter. Kayne Anderson Capital Advisors LP raised its stake in TC Energy by 51.4% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 4,842,255 shares of the pipeline company’s stock valued at $225,310,000 after buying an additional 1,644,115 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its stake in TC Energy by 5.5% in the fourth quarter. Sequoia Financial Advisors LLC now owns 10,177 shares of the pipeline company’s stock valued at $474,000 after buying an additional 526 shares during the last quarter. Institutional investors own 83.13% of the company’s stock.

Analyst Upgrades and Downgrades

TRP has been the subject of a number of research reports. StockNews.com downgraded TC Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Veritas upgraded TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. TD Securities started coverage on TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating for the company. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. Finally, Royal Bank of Canada lifted their price target on TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $62.00.

TC Energy Stock Performance

Shares of NYSE:TRP opened at $46.65 on Friday. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23. The business’s 50 day moving average price is $46.26 and its 200-day moving average price is $46.77. The firm has a market capitalization of $48.47 billion, a PE ratio of 14.40, a P/E/G ratio of 4.34 and a beta of 0.83. TC Energy Co. has a 1 year low of $34.95 and a 1 year high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.54. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.42 billion. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. During the same quarter in the previous year, the company posted $1.35 earnings per share. As a group, equities research analysts expect that TC Energy Co. will post 2.63 earnings per share for the current fiscal 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 paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 7.29%. The ex-dividend date is Monday, March 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s dividend payout ratio is 72.53%.

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.