Investment Management Corp of Ontario Sells 4,625 Shares of TC Energy Co. (NYSE:TRP)

Investment Management Corp of Ontario reduced its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 4.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,467 shares of the pipeline company’s stock after selling 4,625 shares during the quarter. Investment Management Corp of Ontario’s holdings in TC Energy were worth $4,675,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of TRP. SBI Securities Co. Ltd. purchased a new stake in shares of TC Energy during the 4th quarter valued at $31,000. Synergy Investment Management LLC purchased a new stake in TC Energy during the fourth quarter valued at about $36,000. Millstone Evans Group LLC bought a new stake in TC Energy during the fourth quarter worth about $41,000. First Command Advisory Services Inc. purchased a new position in shares of TC Energy in the 4th quarter worth about $46,000. Finally, UMB Bank n.a. bought a new position in TC Energy during the fourth quarter valued at approximately $47,000. 83.13% of the stock is currently owned by institutional investors.

TC Energy Trading Up 0.7 %

NYSE:TRP opened at $49.35 on Friday. The company has a 50-day moving average price of $48.12 and a 200-day moving average price of $47.40. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56. The stock has a market cap of $51.31 billion, a price-to-earnings ratio of 15.23, a P/E/G ratio of 4.34 and a beta of 0.78. TC Energy Co. has a 12 month low of $37.07 and a 12 month high of $51.34.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Thursday, May 1st. The pipeline company reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.04). TC Energy had a return on equity of 12.12% and a net margin of 29.40%. The business had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $2.57 billion. During the same period in the prior year, the company earned $1.02 earnings per share. Equities analysts predict that TC Energy Co. will post 2.63 EPS for the current year.

TC Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be paid a $0.6142 dividend. This represents a $2.46 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date of this dividend is Monday, June 30th. TC Energy’s payout ratio is 77.89%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. CIBC upgraded shares of TC Energy from a “neutral” rating to a “sector outperform” rating in a research report on Friday, May 2nd. Royal Bank of Canada raised their price target on TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Citigroup began coverage on TC Energy in a research report on Friday, April 4th. They issued a “neutral” rating for the company. Veritas upgraded shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 18th. Finally, Cibc World Mkts upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, TC Energy presently has a consensus rating of “Moderate Buy” and an average target price 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.