TC Energy Co. (NYSE:TRP) Shares Sold by Bank of Nova Scotia Trust Co.

Bank of Nova Scotia Trust Co. trimmed its position in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 8.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 837,026 shares of the pipeline company's stock after selling 77,647 shares during the quarter. TC Energy makes up 4.1% of Bank of Nova Scotia Trust Co.'s portfolio, making the stock its 5th biggest holding. Bank of Nova Scotia Trust Co. owned 0.08% of TC Energy worth $38,947,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of TRP. SBI Securities Co. Ltd. purchased a new position in TC Energy during the 4th quarter valued at about $31,000. Versant Capital Management Inc purchased a new position in shares of TC Energy during the 4th quarter worth approximately $33,000. Synergy Investment Management LLC acquired a new position in shares of TC Energy during the 4th quarter worth approximately $36,000. Millstone Evans Group LLC purchased a new stake in TC Energy in the 4th quarter valued at approximately $41,000. Finally, First Command Advisory Services Inc. purchased a new stake in TC Energy in the 4th quarter valued at approximately $46,000. Institutional investors and hedge funds own 83.13% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on TRP shares. US Capital Advisors raised TC Energy from a "hold" rating to a "moderate buy" rating in a research report on Monday, February 3rd. Citigroup assumed coverage on TC Energy in a research report on Friday, April 4th. They set a "neutral" rating for the company. StockNews.com lowered shares of TC Energy from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. TD Securities began coverage on shares of TC Energy in a report on Wednesday, January 15th. They set a "buy" rating for the company. Finally, Royal Bank of Canada upped their price objective on shares of TC Energy from $71.00 to $74.00 and gave the company an "outperform" rating in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $62.00.

TC Energy Trading Down 0.2 %

Shares of TRP stock traded down $0.09 during trading hours on Wednesday, hitting $48.92. 1,669,824 shares of the company were exchanged, compared to its average volume of 2,583,109. The firm has a fifty day moving average of $46.84 and a 200 day moving average of $47.07. 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 Co. has a 1 year low of $35.38 and a 1 year high of $50.37. The firm has a market cap of $50.84 billion, a PE ratio of 15.10, a PEG ratio of 4.34 and a beta of 0.74.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.54. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.42 billion. During the same quarter last year, the firm posted $1.35 earnings per share. Analysts expect that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 6.95%. The ex-dividend date is Monday, March 31st. This is an increase from TC Energy's previous quarterly dividend of $0.82. TC Energy's payout ratio is 72.84%.

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.