TC Energy Co. (NYSE:TRP) Shares Sold by Nexus Investment Management ULC

Nexus Investment Management ULC trimmed its stake in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 2.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 601,890 shares of the pipeline company's stock after selling 18,095 shares during the period. TC Energy comprises 2.8% of Nexus Investment Management ULC's holdings, making the stock its 19th largest position. Nexus Investment Management ULC owned approximately 0.06% of TC Energy worth $27,987,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Fortitude Family Office LLC acquired a new position in shares of TC Energy in the 3rd quarter valued at $28,000. Blue Trust Inc. raised its position in shares of TC Energy by 72.0% in the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company's stock worth $30,000 after acquiring an additional 267 shares during the period. Versant Capital Management Inc purchased a new stake in shares of TC Energy during the 4th quarter worth about $33,000. Point72 DIFC Ltd acquired a new stake in shares of TC Energy during the 3rd quarter valued at about $39,000. Finally, Farther Finance Advisors LLC increased its stake in shares of TC Energy by 215.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,209 shares of the pipeline company's stock valued at $57,000 after purchasing an additional 826 shares in the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

TC Energy Trading Up 2.7 %

Shares of NYSE TRP traded up $1.22 during trading on Friday, hitting $47.39. 3,422,631 shares of the company were exchanged, compared to its average volume of 1,534,485. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31. The company has a fifty day moving average price of $47.59 and a 200-day moving average price of $45.62. TC Energy Co. has a 12-month low of $31.83 and a 12-month high of $50.37. The firm has a market capitalization of $49.23 billion, a PE ratio of 13.13, a P/E/G ratio of 4.31 and a beta of 0.82.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, topping analysts' consensus estimates of $0.70 by $0.06. The business had revenue of $2.99 billion during the quarter, compared to analysts' expectations of $2.83 billion. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. As a group, equities research analysts expect that TC Energy Co. will post 2.95 EPS for the current year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $0.822 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.29 dividend on an annualized basis and a yield of 6.94%. This is an increase from TC Energy's previous quarterly dividend of $0.70. TC Energy's payout ratio is currently 63.43%.

Wall Street Analysts Forecast Growth

TRP has been the topic of several research analyst reports. Veritas raised TC Energy to a "strong sell" rating in a report on Tuesday, October 8th. TD Securities started coverage on shares of TC Energy in a report on Wednesday. They set a "buy" rating on the stock. JPMorgan Chase & Co. raised shares of TC Energy from a "neutral" rating to an "overweight" rating in a research note on Monday, October 14th. The Goldman Sachs Group lifted their price objective on TC Energy from $38.00 to $42.00 and gave the stock a "sell" rating in a report on Monday, October 21st. Finally, UBS Group raised TC Energy from a "neutral" rating to a "buy" rating in a research note on Monday, September 30th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $55.67.

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.