TC Energy Co. (NYSE:TRP) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board decreased its holdings in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 24.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,896 shares of the pipeline company's stock after selling 6,981 shares during the period. Ontario Teachers Pension Plan Board's holdings in TC Energy were worth $1,019,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TRP. Barclays PLC lifted its holdings in shares of TC Energy by 19.9% in the third quarter. Barclays PLC now owns 528,528 shares of the pipeline company's stock worth $25,132,000 after buying an additional 87,885 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in TC Energy during the 3rd quarter valued at approximately $186,000. Centerstone Investors LLC boosted its position in shares of TC Energy by 3.4% during the 3rd quarter. Centerstone Investors LLC now owns 328,440 shares of the pipeline company's stock valued at $14,550,000 after acquiring an additional 10,890 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its position in TC Energy by 58.0% in the third quarter. B. Riley Wealth Advisors Inc. now owns 8,769 shares of the pipeline company's stock worth $409,000 after purchasing an additional 3,218 shares during the last quarter. Finally, Versant Capital Management Inc purchased a new position in shares of TC Energy in the 4th quarter worth $33,000. Institutional investors own 83.13% of the company's stock.

TC Energy Stock Up 1.4 %

NYSE:TRP traded up $0.69 during mid-day trading on Tuesday, hitting $49.14. 305,853 shares of the company's stock traded hands, compared to its average volume of 2,583,059. TC Energy Co. has a twelve month low of $35.38 and a twelve month high of $50.37. The company has a market capitalization of $51.07 billion, a P/E ratio of 15.15, a P/E/G ratio of 4.34 and a beta of 0.74. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55. The company has a fifty day moving average of $46.81 and a 200 day moving average of $47.06.

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 earnings per share (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 analyst estimates of $2.42 billion. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. During the same quarter in the prior year, the business posted $1.35 EPS. On average, analysts forecast that TC Energy Co. will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued 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 is Monday, March 31st. This represents a $3.40 dividend on an annualized basis and a dividend yield of 6.92%. TC Energy's payout ratio is 72.84%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. TD Securities assumed coverage on TC Energy in a report on Wednesday, January 15th. They issued a "buy" rating on the stock. US Capital Advisors raised shares of TC Energy from a "hold" rating to a "moderate buy" rating in a research report on Monday, February 3rd. Royal Bank of Canada boosted their price target on TC Energy from $71.00 to $74.00 and gave the company an "outperform" rating in a report on Tuesday, February 18th. Veritas raised TC Energy from a "strong sell" rating to a "strong-buy" rating in a research report on Tuesday, February 18th. Finally, Citigroup initiated coverage on TC Energy in a report on Friday, April 4th. They issued a "neutral" rating for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $62.00.

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.