AGF Management Ltd. Reduces Position in TC Energy Co. (NYSE:TRP)

AGF Management Ltd. trimmed its stake in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 5.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 857,035 shares of the pipeline company's stock after selling 53,711 shares during the period. AGF Management Ltd. owned about 0.08% of TC Energy worth $39,878,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in TRP. SBI Securities Co. Ltd. purchased a new stake in shares of TC Energy in the 4th quarter worth approximately $31,000. Versant Capital Management Inc purchased a new stake in shares of TC Energy in the 4th quarter worth approximately $33,000. Synergy Investment Management LLC purchased a new stake in shares of TC Energy in the 4th quarter worth approximately $36,000. Point72 DIFC Ltd bought a new position in shares of TC Energy during the 3rd quarter worth approximately $39,000. Finally, First Command Advisory Services Inc. bought a new position in shares of TC Energy during the 4th quarter worth approximately $46,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on TRP shares. Royal Bank of Canada boosted their price objective on shares of TC Energy from $71.00 to $74.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. StockNews.com lowered shares of TC Energy from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Veritas upgraded shares of TC Energy from a "strong sell" rating to a "strong-buy" rating in a research note on Tuesday, February 18th. US Capital Advisors raised shares of TC Energy from a "hold" rating to a "moderate buy" rating in a report on Monday, February 3rd. Finally, TD Securities began coverage on shares of TC Energy in a report on Wednesday, January 15th. They set a "buy" rating on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $62.00.

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TC Energy Price Performance

Shares of NYSE TRP opened at $46.18 on Tuesday. TC Energy Co. has a 52 week low of $34.95 and a 52 week high of $50.37. The stock has a market capitalization of $47.99 billion, a price-to-earnings ratio of 14.25, a price-to-earnings-growth ratio of 4.34 and a beta of 0.83. The firm has a 50-day simple moving average of $46.27 and a 200-day simple moving average of $46.77. 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 - Get Free Report) TSE: TRP last released its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts' expectations of $2.42 billion. During the same period last year, the business earned $1.35 earnings per share. On average, equities analysts predict that TC Energy Co. will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.85 per share. This is a boost from TC Energy's previous quarterly dividend of $0.82. This represents a $3.40 annualized dividend and a yield of 7.36%. The ex-dividend date of this dividend is Monday, March 31st. TC Energy's dividend payout ratio (DPR) is presently 72.53%.

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.

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