173,541 TC Energy Corporation $TRP Shares Sold by Beutel Goodman & Co Ltd.

Beutel Goodman & Co Ltd. decreased its holdings in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 7.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,114,835 shares of the pipeline company’s stock after selling 173,541 shares during the period. Beutel Goodman & Co Ltd.’s holdings in TC Energy were worth $122,726,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Canada Pension Plan Investment Board acquired a new position in shares of TC Energy in the 2nd quarter worth approximately $1,148,244,000. GQG Partners LLC acquired a new stake in TC Energy during the second quarter valued at approximately $1,107,936,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in TC Energy during the second quarter valued at approximately $977,976,000. Legal & General Group Plc acquired a new stake in TC Energy during the second quarter valued at approximately $519,612,000. Finally, The Manufacturers Life Insurance Company bought a new stake in TC Energy during the second quarter worth approximately $362,982,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Trading Up 1.5%

Shares of TRP opened at $62.84 on Tuesday. The business’s 50-day moving average price is $61.36 and its 200 day moving average price is $63.89. The stock has a market capitalization of $62.84 billion, a P/E ratio of 23.54 and a beta of 0.64. TC Energy Corporation has a 1-year low of $52.00 and a 1-year high of $71.47. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.64.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Thursday, November 5th. The pipeline company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.03. TC Energy had a net margin of 22.91% and a return on equity of 11.10%. The company had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.79 billion. During the same period in the prior year, the firm earned $0.77 earnings per share. Analysts expect that TC Energy Corporation will post 2.81 earnings per share for the current year.

TC Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 29th. Stockholders of record on Thursday, December 31st will be given a C$0.88 dividend. This represents a $3.51 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend is Thursday, December 31st. TC Energy’s dividend payout ratio (DPR) is 94.05%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. TD upgraded shares of TC Energy to a “buy” rating in a research report on Tuesday, September 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of TC Energy in a report on Thursday, October 29th. TD Securities reiterated a “buy” rating on shares of TC Energy in a research report on Friday, October 16th. The Goldman Sachs Group upgraded TC Energy from a “neutral” rating to a “buy” rating and set a $71.00 price objective for the company in a research report on Wednesday, September 30th. Finally, Jefferies Financial Group raised TC Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, September 1st. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $93.75.

About TC Energy

TC Energy (NYSE: TRP) is a North American energy infrastructure company that develops and operates natural gas and liquids pipelines, natural gas storage facilities, and power-generation assets. Its services help transport and store energy for producers, utilities, businesses, and consumers.

The company’s pipeline network spans Canada, the United States, and Mexico. Its power-generation portfolio includes an interest in Bruce Power, which operates a nuclear generating station in Ontario.

Founded as TransCanada Corporation, the company adopted the TC Energy name in 2019.