PCJ Investment Counsel Ltd. Sells 13,040 Shares of TC Energy Co. (NYSE:TRP)

PCJ Investment Counsel Ltd. lowered its stake in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 29.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 30,660 shares of the pipeline company's stock after selling 13,040 shares during the quarter. PCJ Investment Counsel Ltd.'s holdings in TC Energy were worth $1,427,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TRP. Farther Finance Advisors LLC lifted its position in TC Energy by 215.7% in the third 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 during the last quarter. Janney Montgomery Scott LLC increased its stake in shares of TC Energy by 1.1% during the third quarter. Janney Montgomery Scott LLC now owns 77,906 shares of the pipeline company's stock valued at $3,704,000 after buying an additional 840 shares during the period. Heronetta Management L.P. increased its stake in shares of TC Energy by 4.9% during the third quarter. Heronetta Management L.P. now owns 127,486 shares of the pipeline company's stock valued at $6,062,000 after buying an additional 6,000 shares during the period. Executive Wealth Management LLC purchased a new position in shares of TC Energy during the third quarter valued at approximately $443,000. Finally, Verdence Capital Advisors LLC increased its stake in shares of TC Energy by 4.7% during the third quarter. Verdence Capital Advisors LLC now owns 27,050 shares of the pipeline company's stock valued at $1,286,000 after buying an additional 1,205 shares during the period. Institutional investors own 83.13% of the company's stock.

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Wall Street Analyst Weigh In

TRP has been the topic of several research analyst reports. TD Securities initiated coverage on TC Energy in a research note on Wednesday, January 15th. They set a "buy" rating on the stock. Royal Bank of Canada boosted their target price on TC Energy from $71.00 to $74.00 and gave the company an "outperform" rating in a research note 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. Veritas raised TC Energy from a "strong sell" rating to a "strong-buy" rating in a research note on Tuesday, February 18th. Finally, BMO Capital Markets upped their price target on TC Energy from $66.00 to $70.00 and gave the stock a "market perform" rating in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, TC Energy has a consensus rating of "Moderate Buy" and a consensus price target of $62.00.

TC Energy Stock Up 0.7 %

Shares of NYSE TRP traded up $0.31 during trading on Wednesday, reaching $46.60. The company had a trading volume of 2,519,833 shares, compared to its average volume of 2,580,355. TC Energy Co. has a 12-month low of $34.95 and a 12-month high of $50.37. The stock has a market cap of $48.43 billion, a PE ratio of 14.38, a P/E/G ratio of 4.34 and a beta of 0.83. The business's 50-day moving average is $46.27 and its 200 day moving average is $46.77. 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 released its earnings results on Friday, February 14th. The pipeline company reported $1.05 EPS for the quarter, topping analysts' consensus estimates of $0.51 by $0.54. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. The firm had revenue of $2.56 billion for the quarter, compared to analysts' expectations of $2.42 billion. During the same period in the prior year, the firm posted $1.35 earnings per share. As a group, equities analysts forecast that TC Energy Co. will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The business 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 $0.85 dividend. This is a boost 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 7.30%. The ex-dividend date is Monday, March 31st. TC Energy's dividend payout ratio is currently 72.53%.

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.