TC Energy Co. (NYSE:TRP) Stock Holdings Decreased by Nexus Investment Management ULC

Nexus Investment Management ULC cut its holdings in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 1.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 619,985 shares of the pipeline company's stock after selling 12,300 shares during the period. TC Energy comprises approximately 2.9% of Nexus Investment Management ULC's holdings, making the stock its 14th biggest position. Nexus Investment Management ULC owned 0.06% of TC Energy worth $29,507,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. EdgeRock Capital LLC bought a new stake in TC Energy in the 2nd quarter valued at about $25,000. Creekmur Asset Management LLC bought a new stake in TC Energy in the 4th quarter valued at about $27,000. Whittier Trust Co. of Nevada Inc. lifted its position in TC Energy by 138.8% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company's stock valued at $28,000 after purchasing an additional 429 shares during the last quarter. Mather Group LLC. bought a new stake in TC Energy in the 2nd quarter valued at about $33,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in TC Energy in the 2nd quarter valued at about $51,000. 83.13% of the stock is owned by institutional investors and hedge funds.

TC Energy Price Performance

Shares of NYSE TRP traded up $0.54 during midday trading on Wednesday, reaching $47.34. The company's stock had a trading volume of 1,988,951 shares, compared to its average volume of 3,248,607. The company has a current ratio of 0.76, a quick ratio of 0.68 and a debt-to-equity ratio of 1.57. The company has a 50 day moving average price of $45.61 and a 200 day moving average price of $41.07. TC Energy Co. has a one year low of $30.48 and a one year high of $47.69. The company has a market cap of $47.34 billion, a price-to-earnings ratio of 24.36, a price-to-earnings-growth ratio of 3.68 and a beta of 0.81.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its earnings results on Thursday, August 1st. The pipeline company reported $0.94 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.29. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same period in the previous year, the firm earned $0.71 EPS. On average, equities research analysts expect that TC Energy Co. will post 3.06 EPS for the current year.

TC Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be issued a $0.702 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.81 dividend on an annualized basis and a dividend yield of 5.93%. TC Energy's payout ratio is currently 146.39%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on TRP shares. Barclays upgraded shares of TC Energy from an "equal weight" rating to an "overweight" rating in a research report on Wednesday, July 17th. JPMorgan Chase & Co. upgraded shares of TC Energy from a "neutral" rating to an "overweight" rating in a research report on Monday. Veritas upgraded shares of TC Energy to a "strong sell" rating in a research report on Tuesday, October 8th. UBS Group upgraded shares of TC Energy from a "neutral" rating to a "buy" rating in a research report on Monday, September 30th. Finally, StockNews.com assumed coverage on shares of TC Energy in a research report on Saturday, October 5th. They set a "hold" rating on the stock. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, TC Energy currently has a consensus rating of "Hold" and an average price target of $43.50.

TC Energy 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.