TC Energy Co. (NYSE:TRP) Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia reduced its position in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 54.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,420,556 shares of the pipeline company's stock after selling 11,448,035 shares during the period. TC Energy makes up approximately 0.8% of Bank of Nova Scotia's holdings, making the stock its 19th largest holding. Bank of Nova Scotia owned approximately 0.91% of TC Energy worth $438,953,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of TRP. SBI Securities Co. Ltd. purchased a new stake in TC Energy during the 4th quarter worth $31,000. Versant Capital Management Inc acquired a new position in shares of TC Energy during the fourth quarter worth about $33,000. Synergy Investment Management LLC purchased a new stake in shares of TC Energy in the fourth quarter worth about $36,000. Point72 DIFC Ltd acquired a new stake in shares of TC Energy in the third quarter valued at about $39,000. Finally, Millstone Evans Group LLC purchased a new stake in shares of TC Energy during the 4th quarter valued at about $41,000. Hedge funds and other institutional investors own 83.13% of the company's stock.

TC Energy Stock Up 4.4 %

TRP stock traded up $2.01 during mid-day trading on Friday, hitting $47.42. 2,834,721 shares of the company were exchanged, compared to its average volume of 2,661,920. The company has a market capitalization of $49.28 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 4.34 and a beta of 0.74. The firm has a fifty day simple moving average of $46.60 and a 200 day simple moving average of $46.95. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56. TC Energy Co. has a twelve month low of $34.95 and a twelve month high of $50.37.

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TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its earnings results on Friday, February 14th. The pipeline company reported $1.05 EPS for the quarter, topping analysts' consensus estimates of $0.51 by $0.54. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.42 billion. During the same quarter last year, the business posted $1.35 EPS. On average, research analysts forecast that TC Energy Co. will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.85 per share. This is a positive change from TC Energy's previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.40 annualized dividend and a yield of 7.17%. TC Energy's payout ratio is presently 72.53%.

Wall Street Analysts Forecast Growth

TRP has been the subject of a number of analyst reports. Veritas upgraded TC Energy from a "strong sell" rating to a "strong-buy" rating in a report on Tuesday, February 18th. US Capital Advisors upgraded shares of TC Energy from a "hold" rating to a "moderate buy" rating in a research note on Monday, February 3rd. Citigroup assumed coverage on shares of TC Energy in a research note on Friday, April 4th. They set a "neutral" rating on the stock. StockNews.com cut shares of TC Energy from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Finally, TD Securities started coverage on TC Energy in a research note on Wednesday, January 15th. They set a "buy" rating for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, TC Energy has a consensus rating of "Moderate Buy" and an average target price of $62.00.

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.