Fiera Capital Corp Sells 463,209 Shares of TC Energy Corporation $TRP

Fiera Capital Corp lessened its position in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 77.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 134,670 shares of the pipeline company’s stock after selling 463,209 shares during the quarter. Fiera Capital Corp’s holdings in TC Energy were worth $7,320,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Norges Bank acquired a new stake in TC Energy in the second quarter valued at approximately $493,434,000. Public Sector Pension Investment Board increased its position in shares of TC Energy by 2,573.3% during the second quarter. Public Sector Pension Investment Board now owns 2,680,572 shares of the pipeline company’s stock worth $130,600,000 after purchasing an additional 2,580,300 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of TC Energy during the 2nd quarter valued at $104,628,000. Picton Mahoney Asset Management acquired a new stake in shares of TC Energy in the 2nd quarter worth $100,398,000. Finally, Nicola Wealth Management LTD. boosted its position in shares of TC Energy by 793.7% in the 3rd quarter. Nicola Wealth Management LTD. now owns 2,302,996 shares of the pipeline company’s stock worth $125,229,000 after purchasing an additional 2,045,300 shares in the last quarter. Institutional investors own 83.13% of the company’s stock.

TC Energy Trading Down 0.2%

Shares of NYSE:TRP opened at $62.39 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.63 and a debt-to-equity ratio of 1.66. TC Energy Corporation has a 52-week low of $43.59 and a 52-week high of $63.94. The stock has a market cap of $64.96 billion, a price-to-earnings ratio of 26.85 and a beta of 0.73. The business has a 50-day moving average price of $56.97 and a 200-day moving average price of $54.03.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.05. TC Energy had a net margin of 23.04% and a return on equity of 10.52%. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter in the prior year, the company earned $1.05 EPS. Equities analysts predict that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be paid a $0.8775 dividend. The ex-dividend date is Tuesday, March 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.85. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.6%. TC Energy’s dividend payout ratio (DPR) is currently 106.90%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Wall Street Zen raised TC Energy from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Morgan Stanley restated an “overweight” rating on shares of TC Energy in a research note on Wednesday, January 28th. BMO Capital Markets reaffirmed an “outperform” rating on shares of TC Energy in a research report on Tuesday. Scotiabank reiterated an “outperform” rating on shares of TC Energy in a research note on Tuesday. Finally, Royal Bank Of Canada upped their price target on shares of TC Energy from $84.00 to $92.00 and gave the company an “outperform” rating in a research note on Tuesday. Seven analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $72.50.

TC Energy 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.