Northwest & Ethical Investments L.P. Sells 217,539 Shares of TC Energy Co. (NYSE:TRP)

Northwest & Ethical Investments L.P. lessened its position in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 49.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 222,991 shares of the pipeline company's stock after selling 217,539 shares during the period. Northwest & Ethical Investments L.P.'s holdings in TC Energy were worth $10,374,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. bought a new position in shares of TC Energy in the third quarter valued at approximately $215,000. Natixis Advisors LLC raised its position in TC Energy by 10.9% in the 3rd quarter. Natixis Advisors LLC now owns 49,438 shares of the pipeline company's stock valued at $2,351,000 after purchasing an additional 4,877 shares during the last quarter. Thrivent Financial for Lutherans acquired a new position in TC Energy in the third quarter worth $236,000. Prospera Financial Services Inc grew its holdings in shares of TC Energy by 4.8% during the third quarter. Prospera Financial Services Inc now owns 5,754 shares of the pipeline company's stock worth $274,000 after purchasing an additional 262 shares during the last quarter. Finally, West Family Investments Inc. acquired a new stake in shares of TC Energy in the third quarter valued at $216,000. 83.13% of the stock is owned by institutional investors.

TC Energy Trading Up 1.7 %

TRP traded up $0.85 during mid-day trading on Monday, hitting $49.28. The stock had a trading volume of 1,929,385 shares, compared to its average volume of 2,543,566. TC Energy Co. has a 1-year low of $34.95 and a 1-year high of $50.37. The firm has a market capitalization of $51.20 billion, a price-to-earnings ratio of 15.21, a price-to-earnings-growth ratio of 4.34 and a beta of 0.83. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23. The stock's fifty day simple moving average is $46.40 and its 200-day simple moving average is $46.89.

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TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) 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 analysts' expectations 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 previous year, the firm earned $1.35 earnings per share. As a group, research analysts forecast that TC Energy Co. will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid 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 6.90%. This is a positive change from TC Energy's previous quarterly dividend of $0.82. TC Energy's payout ratio is presently 72.53%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. US Capital Advisors raised shares of TC Energy from a "hold" rating to a "moderate buy" rating in a report on Monday, February 3rd. Veritas raised shares of TC Energy from a "strong sell" rating to a "strong-buy" rating in a report on Tuesday, February 18th. TD Securities assumed coverage on TC Energy in a research report on Wednesday, January 15th. They issued 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 stock an "outperform" rating in a research report on Tuesday, February 18th. Finally, StockNews.com cut TC Energy from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, TC Energy presently has an average rating of "Moderate Buy" and a consensus 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.