TC Energy Co. (NYSE:TRP) Shares Sold by Scheer Rowlett & Associates Investment Management Ltd.

Scheer Rowlett & Associates Investment Management Ltd. decreased its holdings in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 8.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,851,112 shares of the pipeline company's stock after selling 167,394 shares during the quarter. TC Energy comprises 6.3% of Scheer Rowlett & Associates Investment Management Ltd.'s holdings, making the stock its 4th largest holding. Scheer Rowlett & Associates Investment Management Ltd. owned approximately 0.18% of TC Energy worth $86,157,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. purchased a new position in shares of TC Energy during the 4th quarter worth approximately $31,000. Versant Capital Management Inc purchased a new position in shares of TC Energy during the fourth quarter worth $33,000. Synergy Investment Management LLC acquired a new stake in shares of TC Energy in the fourth quarter valued at $36,000. Point72 DIFC Ltd purchased a new position in TC Energy during the 3rd quarter valued at about $39,000. Finally, First Command Advisory Services Inc. acquired a new position in TC Energy in the 4th quarter valued at about $46,000. Hedge funds and other institutional investors own 83.13% of the company's stock.

TC Energy Stock Performance

Shares of NYSE:TRP traded up $0.31 on Wednesday, reaching $46.60. The company's stock had a trading volume of 2,519,833 shares, compared to its average volume of 2,580,355. TC Energy Co. has a 52-week low of $34.95 and a 52-week high of $50.37. The stock has a market capitalization of $48.43 billion, a P/E ratio of 14.38, a PEG ratio of 4.34 and a beta of 0.83. The stock's 50-day moving average is $46.27 and its two-hundred day moving average is $46.77. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23.

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TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.51 by $0.54. The firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.42 billion. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. During the same period in the prior year, the business earned $1.35 EPS. As a group, sell-side analysts forecast that TC Energy Co. will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.85 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.40 dividend on an annualized basis and a yield of 7.30%. This is an increase from TC Energy's previous quarterly dividend of $0.82. TC Energy's dividend payout ratio (DPR) is 72.53%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TRP. BMO Capital Markets lifted their price objective on shares of TC Energy from $66.00 to $70.00 and gave the company a "market perform" rating in a report on Wednesday, November 20th. TD Securities assumed coverage on shares of TC Energy in a report on Wednesday, January 15th. They issued a "buy" rating on the stock. Veritas upgraded shares of TC Energy from a "strong sell" rating to a "strong-buy" rating in a research note on Tuesday, February 18th. Royal Bank of Canada raised their price target on TC Energy from $71.00 to $74.00 and gave the company an "outperform" rating in a research note on Tuesday, February 18th. Finally, StockNews.com cut TC Energy from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, TC Energy has an average rating of "Moderate Buy" and an average price target of $62.00.

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.