TC Energy Corporation $TRP Shares Sold by Triasima Portfolio Management inc.

Triasima Portfolio Management inc. trimmed its holdings in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 47.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 104,481 shares of the pipeline company’s stock after selling 94,145 shares during the period. Triasima Portfolio Management inc.’s holdings in TC Energy were worth $5,090,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in TC Energy by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 44,397,978 shares of the pipeline company’s stock valued at $2,096,739,000 after acquiring an additional 710,837 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in 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 valued at $935,627,000 after acquiring an additional 5,053,228 shares during the last quarter. TD Asset Management Inc grew its stake in TC Energy by 6.2% in the 1st quarter. TD Asset Management Inc now owns 17,455,740 shares of the pipeline company’s stock valued at $824,243,000 after acquiring an additional 1,018,590 shares during the last quarter. Bank of Nova Scotia grew its stake 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 during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake 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 during the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TRP has been the topic of a number of research reports. Wall Street Zen cut shares of TC Energy from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. US Capital Advisors lowered shares of TC Energy from a “moderate buy” rating to a “hold” rating in a report on Thursday, August 21st. Barclays restated an “overweight” rating on shares of TC Energy in a report on Thursday, August 14th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of TC Energy in a report on Saturday, September 27th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, TC Energy has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

TC Energy Trading Up 0.3%

Shares of TRP stock opened at $54.67 on Wednesday. The firm has a market cap of $56.87 billion, a P/E ratio of 18.66, a PEG ratio of 5.22 and a beta of 0.75. TC Energy Corporation has a 1-year low of $43.51 and a 1-year high of $55.37. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.61 and a quick ratio of 0.54. The firm’s 50-day simple moving average is $51.68 and its 200-day simple moving average is $49.70.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Thursday, July 31st. The pipeline company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.03. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $2.56 billion. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. During the same period in the prior year, the firm posted $0.79 EPS. As a group, equities analysts forecast that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be issued a dividend of $0.6148 per share. This represents a $2.46 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Monday, September 29th. This is an increase from TC Energy’s previous quarterly dividend of $0.61. TC Energy’s payout ratio is currently 84.30%.

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.