TC Energy Co. (NYSE:TRP) Shares Sold by Intact Investment Management Inc.

Intact Investment Management Inc. cut its stake in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 26.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 348,804 shares of the pipeline company's stock after selling 122,500 shares during the period. Intact Investment Management Inc.'s holdings in TC Energy were worth $16,253,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. NTV Asset Management LLC boosted its stake in shares of TC Energy by 4.0% in the 4th quarter. NTV Asset Management LLC now owns 6,189 shares of the pipeline company's stock valued at $288,000 after buying an additional 239 shares during the period. Captrust Financial Advisors raised its holdings in TC Energy by 1.3% in the third 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 in the last quarter. Lee Financial Co lifted its stake in TC Energy by 3.1% in the fourth quarter. Lee Financial Co now owns 8,185 shares of the pipeline company's stock worth $381,000 after acquiring an additional 246 shares during the last quarter. IFP Advisors Inc grew its holdings in TC Energy by 7.0% during the 4th quarter. IFP Advisors Inc now owns 3,809 shares of the pipeline company's stock worth $177,000 after acquiring an additional 249 shares in the last quarter. Finally, Prospera Financial Services Inc increased its position in shares of TC Energy by 4.8% in the 3rd quarter. Prospera Financial Services Inc now owns 5,754 shares of the pipeline company's stock valued at $274,000 after purchasing an additional 262 shares during the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on TRP shares. BMO Capital Markets lifted 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 report on Wednesday, November 20th. Royal Bank of Canada lifted 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. TD Securities assumed coverage on TC Energy in a report on Wednesday, January 15th. They issued a "buy" rating on the stock. StockNews.com cut TC Energy from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Finally, 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $62.00.

TC Energy Stock Performance

TRP traded down $0.03 during trading on Tuesday, hitting $47.72. 2,504,170 shares of the stock were exchanged, compared to its average volume of 2,561,413. The firm has a market capitalization of $49.59 billion, a P/E ratio of 14.73, a PEG 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. The stock has a fifty day moving average price of $46.26 and a two-hundred day moving average price of $46.82. 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 announced its earnings results on Friday, February 14th. The pipeline company reported $1.05 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.54. The business had revenue of $2.56 billion for the quarter, compared to analysts' expectations of $2.42 billion. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. During the same period in the previous year, the company posted $1.35 EPS. As a group, sell-side analysts predict that TC Energy Co. will post 2.63 earnings per share for the current 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 paid a dividend of $0.85 per share. This is an increase 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 dividend yield of 7.12%. TC Energy's dividend payout ratio is 72.53%.

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.