TC Energy Corporation $TRP Shares Sold by Scheer Rowlett & Associates Investment Management Ltd.

Scheer Rowlett & Associates Investment Management Ltd. lessened its holdings in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 3.2% in the second quarter, HoldingsChannel.com reports. The firm owned 1,643,567 shares of the pipeline company’s stock after selling 53,699 shares during the period. TC Energy comprises 5.2% of Scheer Rowlett & Associates Investment Management Ltd.’s holdings, making the stock its 5th largest position. Scheer Rowlett & Associates Investment Management Ltd.’s holdings in TC Energy were worth $80,193,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of TC Energy by 1.6% in the first quarter. Vanguard Group Inc. now owns 44,397,978 shares of the pipeline company’s stock valued at $2,096,739,000 after buying an additional 710,837 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of TC Energy by 34.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 19,808,558 shares of the pipeline company’s stock worth $935,627,000 after acquiring an additional 5,053,228 shares during the last quarter. TD Asset Management Inc raised its holdings in shares of TC Energy by 9.3% in the 2nd quarter. TD Asset Management Inc now owns 19,074,181 shares of the pipeline company’s stock worth $929,316,000 after acquiring an additional 1,618,441 shares during the last quarter. Bank of Nova Scotia lifted its position in TC Energy by 80.3% in the 1st quarter. Bank of Nova Scotia now owns 16,983,443 shares of the pipeline company’s stock valued at $802,164,000 after acquiring an additional 7,562,887 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in TC Energy by 2,565.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 16,306,187 shares of the pipeline company’s stock valued at $769,815,000 after acquiring an additional 15,694,336 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Stock Up 3.4%

Shares of NYSE:TRP opened at $52.18 on Friday. TC Energy Corporation has a 1 year low of $43.51 and a 1 year high of $55.37. The company has a market capitalization of $54.29 billion, a PE ratio of 17.81, a price-to-earnings-growth ratio of 4.82 and a beta of 0.73. The business has a fifty day moving average price of $52.17 and a two-hundred day moving average price of $50.31. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.61 and a quick ratio of 0.54.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Thursday, November 6th. The pipeline company reported $0.56 EPS for the quarter, hitting analysts’ consensus estimates of $0.56. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $2.63 billion. TC Energy had a return on equity of 11.22% and a net margin of 28.98%.During the same period in the previous year, the business posted $1.03 EPS. Analysts forecast that TC Energy Corporation will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be paid a $0.85 dividend. The ex-dividend date is Wednesday, December 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.61. This represents a $3.40 dividend on an annualized basis and a yield of 6.5%. TC Energy’s dividend payout ratio is presently 84.30%.

Analyst Upgrades and Downgrades

TRP has been the subject of a number of recent research reports. Cibc World Mkts lowered TC Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Scotiabank reaffirmed an “outperform” rating on shares of TC Energy in a research report on Monday, October 20th. Barclays reiterated an “overweight” rating on shares of TC Energy in a report on Tuesday, October 14th. Cibc Captl Mkts upgraded TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday. Finally, TD Securities reiterated a “buy” rating on shares of TC Energy in a research note on Friday, October 17th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $77.00.

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.