TC Energy Co. (NYSE:TRP) Shares Sold by Beutel Goodman & Co Ltd.

Beutel Goodman & Co Ltd. cut its position in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 10.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,645,095 shares of the pipeline company's stock after selling 759,047 shares during the quarter. TC Energy makes up about 1.7% of Beutel Goodman & Co Ltd.'s investment portfolio, making the stock its 29th largest position. Beutel Goodman & Co Ltd. owned 0.64% of TC Energy worth $309,521,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in TRP. Addenda Capital Inc. grew its holdings in shares of TC Energy by 4.4% during the 4th quarter. Addenda Capital Inc. now owns 1,034,497 shares of the pipeline company's stock worth $48,135,000 after acquiring an additional 43,639 shares during the period. Captrust Financial Advisors boosted its holdings in shares of TC Energy by 1.3% during the 3rd quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company's stock valued at $871,000 after acquiring an additional 242 shares during the last quarter. Ritholtz Wealth Management boosted its holdings in TC Energy by 44.8% in the fourth quarter. Ritholtz Wealth Management now owns 23,957 shares of the pipeline company's stock worth $1,115,000 after purchasing an additional 7,412 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of TC Energy in the third quarter worth $3,771,000. Finally, Exchange Traded Concepts LLC increased its position in shares of TC Energy by 7.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 1,034,698 shares of the pipeline company's stock valued at $48,144,000 after purchasing an additional 71,955 shares during the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

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TC Energy Trading Up 1.4 %

Shares of TRP stock traded up $0.68 during trading on Wednesday, hitting $48.48. 541,710 shares of the stock traded hands, compared to its average volume of 2,626,946. The firm has a market capitalization of $50.38 billion, a P/E ratio of 14.96, a price-to-earnings-growth ratio of 4.34 and a beta of 0.83. TC Energy Co. has a 52-week low of $34.95 and a 52-week high of $50.37. The firm's fifty day moving average price is $46.54 and its 200-day moving average price is $46.97. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued 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 company had revenue of $2.56 billion during the quarter, compared to analysts' expectations of $2.42 billion. During the same quarter last year, the company posted $1.35 EPS. As a group, 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. Stockholders of record on Monday, March 31st will be given a dividend of $0.85 per share. The ex-dividend date is Monday, March 31st. This is a positive change from TC Energy's previous quarterly dividend of $0.82. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.01%. TC Energy's dividend payout ratio (DPR) is 72.53%.

Analyst Ratings Changes

TRP has been the topic of several recent research reports. Veritas raised TC Energy from a "strong sell" rating to a "strong-buy" rating in a research note on Tuesday, February 18th. Royal Bank of Canada increased their target price on TC Energy from $71.00 to $74.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. StockNews.com cut TC Energy from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. TD Securities started coverage on shares of TC Energy in a report on Wednesday, January 15th. They issued a "buy" rating for the company. Finally, US Capital Advisors raised TC Energy from a "hold" rating to a "moderate buy" rating in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target 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.