Healthcare of Ontario Pension Plan Trust Fund Lowers Position in TC Energy Corporation $TRP

Healthcare of Ontario Pension Plan Trust Fund reduced its stake in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 32.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 9,579,034 shares of the pipeline company’s stock after selling 4,620,966 shares during the quarter. TC Energy accounts for approximately 0.9% of Healthcare of Ontario Pension Plan Trust Fund’s portfolio, making the stock its 22nd biggest position. Healthcare of Ontario Pension Plan Trust Fund’s holdings in TC Energy were worth $527,528,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its position in TC Energy by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 47,801,695 shares of the pipeline company’s stock valued at $2,632,200,000 after buying an additional 980,221 shares during the last quarter. Capital Research Global Investors raised its position in TC Energy by 2.5% in the 3rd quarter. Capital Research Global Investors now owns 41,977,582 shares of the pipeline company’s stock valued at $2,282,469,000 after buying an additional 1,041,864 shares during the last quarter. TD Asset Management Inc raised its position in TC Energy by 6.3% in the 4th quarter. TD Asset Management Inc now owns 20,868,772 shares of the pipeline company’s stock valued at $1,150,656,000 after buying an additional 1,244,525 shares during the last quarter. GQG Partners LLC raised its position in TC Energy by 586.5% in the 4th quarter. GQG Partners LLC now owns 16,154,469 shares of the pipeline company’s stock valued at $890,711,000 after buying an additional 13,801,371 shares during the last quarter. Finally, Deutsche Bank AG raised its position in TC Energy by 63.2% in the 4th quarter. Deutsche Bank AG now owns 15,384,255 shares of the pipeline company’s stock valued at $846,288,000 after buying an additional 5,956,263 shares during the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Stock Up 0.1%

Shares of NYSE:TRP opened at $69.39 on Friday. The company has a market capitalization of $69.39 billion, a PE ratio of 30.12 and a beta of 0.66. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.65 and a quick ratio of 0.57. The business has a fifty day moving average price of $65.69 and a two-hundred day moving average price of $61.03. TC Energy Corporation has a 1 year low of $46.29 and a 1 year high of $71.47.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Friday, May 1st. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. The firm had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.20 billion. TC Energy had a return on equity of 10.74% and a net margin of 22.22%.During the same quarter in the prior year, the company earned $0.95 EPS. Analysts forecast that TC Energy Corporation will post 2.75 earnings per share for the current year.

TC Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.8775 per share. The ex-dividend date is Tuesday, June 30th. This represents a $3.51 annualized dividend and a dividend yield of 5.1%. TC Energy’s dividend payout ratio is presently 109.57%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Morgan Stanley lowered TC Energy from an “overweight” rating to an “equal weight” rating in a research report on Wednesday. Weiss Ratings downgraded TC Energy from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Wall Street Zen upgraded TC Energy from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Barclays restated an “overweight” rating on shares of TC Energy in a research note on Monday, May 4th. Finally, BMO Capital Markets restated an “outperform” rating on shares of TC Energy in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $78.50.

TC Energy Company Profile

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.