TC Energy Co. (NYSE:TRP) Shares Sold by Heathbridge Capital Management Ltd.

Heathbridge Capital Management Ltd. cut its position in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 19.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 416,062 shares of the pipeline company's stock after selling 98,513 shares during the quarter. TC Energy comprises 7.7% of Heathbridge Capital Management Ltd.'s holdings, making the stock its 3rd biggest position. Heathbridge Capital Management Ltd.'s holdings in TC Energy were worth $19,370,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Fortitude Family Office LLC acquired a new stake in shares of TC Energy during the third quarter valued at approximately $28,000. Blue Trust Inc. increased its stake in TC Energy by 72.0% in the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company's stock valued at $30,000 after buying an additional 267 shares during the period. Versant Capital Management Inc acquired a new position in TC Energy in the 4th quarter valued at approximately $33,000. Point72 DIFC Ltd acquired a new position in TC Energy in the 3rd quarter valued at approximately $39,000. Finally, UMB Bank n.a. acquired a new position in shares of TC Energy during the 4th quarter worth $47,000. 83.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Morgan Stanley upgraded shares of TC Energy from an "underweight" rating to an "overweight" rating in a research note on Friday, October 25th. TD Securities assumed coverage on shares of TC Energy in a research note on Wednesday, January 15th. They set a "buy" rating on the stock. US Capital Advisors upgraded shares of TC Energy from a "hold" rating to a "moderate buy" rating in a research note on Monday, February 3rd. Royal Bank of Canada increased their price target on shares of TC Energy from $71.00 to $74.00 and gave the stock an "outperform" rating in a research note on Tuesday. Finally, StockNews.com upgraded shares of TC Energy from a "hold" rating to a "buy" rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $62.00.

TC Energy Stock Performance

TC Energy stock traded down $0.38 during mid-day trading on Thursday, reaching $45.52. The company had a trading volume of 1,693,511 shares, compared to its average volume of 2,108,094. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78. TC Energy Co. has a 52 week low of $31.83 and a 52 week high of $50.37. The company has a 50 day moving average of $46.53 and a 200-day moving average of $46.62. The firm has a market cap of $47.30 billion, a price-to-earnings ratio of 14.05, a PEG ratio of 4.43 and a beta of 0.81.

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 for the quarter, beating analysts' consensus estimates 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 net margin of 29.40% and a return on equity of 11.95%. During the same period in the prior year, the firm earned $1.35 EPS. On average, sell-side analysts expect that TC Energy Co. will post 2.62 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.47%. This is an increase from TC Energy's previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, March 31st. TC Energy's dividend payout ratio (DPR) is presently 70.68%.

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.