K.J. Harrison & Partners Inc Sells 55,820 Shares of TC Energy Co. (NYSE:TRP)

K.J. Harrison & Partners Inc lowered its position in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 17.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 255,661 shares of the pipeline company's stock after selling 55,820 shares during the quarter. TC Energy comprises approximately 1.9% of K.J. Harrison & Partners Inc's portfolio, making the stock its 11th largest holding. K.J. Harrison & Partners Inc's holdings in TC Energy were worth $12,097,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in TRP. CIBC Asset Management Inc grew its position in TC Energy by 8.4% in the fourth quarter. CIBC Asset Management Inc now owns 7,123,344 shares of the pipeline company's stock worth $331,863,000 after acquiring an additional 551,980 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in TC Energy by 156.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company's stock worth $321,778,000 after acquiring an additional 4,126,801 shares in the last quarter. Geode Capital Management LLC grew its position in TC Energy by 8.3% in the third quarter. Geode Capital Management LLC now owns 4,712,660 shares of the pipeline company's stock worth $225,890,000 after acquiring an additional 360,548 shares in the last quarter. Merewether Investment Management LP grew its position in TC Energy by 37.9% in the third quarter. Merewether Investment Management LP now owns 4,097,600 shares of the pipeline company's stock worth $194,776,000 after acquiring an additional 1,127,000 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP grew its position in TC Energy by 29.2% in the third quarter. Kayne Anderson Capital Advisors LP now owns 3,198,140 shares of the pipeline company's stock worth $152,072,000 after acquiring an additional 722,619 shares in the last quarter. Institutional investors own 83.13% of the company's stock.

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Wall Street Analyst Weigh In

Several research analysts recently issued reports on TRP shares. US Capital Advisors upgraded shares of TC Energy from a "hold" rating to a "moderate buy" rating in a research report on Monday, February 3rd. BMO Capital Markets upped their price target on shares of TC Energy from $66.00 to $70.00 and gave the company a "market perform" rating in a research report on Wednesday, November 20th. Royal Bank of Canada upped their price target on shares of TC Energy from $71.00 to $74.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. StockNews.com upgraded shares of TC Energy from a "hold" rating to a "buy" rating in a research report on Wednesday, February 19th. Finally, Veritas upgraded shares of TC Energy from a "strong sell" rating to a "strong-buy" rating in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $62.00.

TC Energy Trading Up 0.8 %

Shares of NYSE:TRP traded up $0.35 during midday trading on Friday, hitting $44.69. 2,216,768 shares of the stock traded hands, compared to its average volume of 2,070,348. The stock has a market capitalization of $46.44 billion, a PE ratio of 13.79, a P/E/G ratio of 4.34 and a beta of 0.81. The business's 50 day moving average is $46.35 and its two-hundred day moving average is $46.69. 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 one year low of $31.83 and a one year high of $50.37.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued 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 net margin of 29.40% and a return on equity of 12.12%. During the same period in the prior year, the firm posted $1.35 earnings per share. As a group, research analysts forecast that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 7.61%. 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 is 71.91%.

About TC Energy

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.