Nicola Wealth Management LTD. Sells 323,600 Shares of TC Energy Co. (NYSE:TRP)

Nicola Wealth Management LTD. lessened its holdings in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 58.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 232,196 shares of the pipeline company's stock after selling 323,600 shares during the period. Nicola Wealth Management LTD.'s holdings in TC Energy were worth $10,804,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. SBI Securities Co. Ltd. acquired a new position in TC Energy in the 4th quarter valued at approximately $31,000. Versant Capital Management Inc acquired a new position in shares of TC Energy during the 4th quarter worth $33,000. Point72 DIFC Ltd bought a new position in shares of TC Energy during the 3rd quarter valued at $39,000. First Command Advisory Services Inc. acquired a new stake in shares of TC Energy in the 4th quarter valued at $46,000. Finally, UMB Bank n.a. bought a new stake in TC Energy in the fourth quarter worth $47,000. Institutional investors and hedge funds own 83.13% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on TRP shares. BMO Capital Markets boosted their price target on TC Energy from $66.00 to $70.00 and gave the stock a "market perform" rating in a research report on Wednesday, November 20th. Royal Bank of Canada lifted their price objective on TC Energy from $71.00 to $74.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. TD Securities assumed coverage on shares of TC Energy in a research note on Wednesday, January 15th. They set a "buy" rating for the company. Veritas upgraded shares of TC Energy from a "strong sell" rating to a "strong-buy" rating in a research note on Tuesday, February 18th. Finally, US Capital Advisors raised TC Energy from a "hold" rating to a "moderate buy" rating in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $62.00.

Remove Ads

TC Energy Trading Up 0.8 %

TC Energy stock traded up $0.37 during mid-day trading on Friday, hitting $45.86. The stock had a trading volume of 1,374,582 shares, compared to its average volume of 2,173,636. The stock has a market capitalization of $47.66 billion, a PE ratio of 14.15, a P/E/G ratio of 4.34 and a beta of 0.83. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56. TC Energy Co. has a 12 month low of $31.83 and a 12 month high of $50.37. The stock has a 50-day simple moving average of $46.29 and a two-hundred day simple moving average of $46.71.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.54. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.42 billion. During the same period in the prior year, the business posted $1.35 earnings per share. 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a $0.85 dividend. This is a positive change from TC Energy's previous quarterly dividend of $0.82. This represents a $3.40 annualized dividend and a dividend yield of 7.41%. The ex-dividend date of this dividend is Monday, March 31st. TC Energy's dividend payout ratio (DPR) 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.