Fiera Capital Corp Trims Stock Holdings in TC Energy Corporation $TRP

Fiera Capital Corp lowered its stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 4.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 597,879 shares of the pipeline company’s stock after selling 30,138 shares during the period. Fiera Capital Corp’s holdings in TC Energy were worth $29,170,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Goldman Sachs Group Inc. raised its stake in shares of TC Energy by 2,565.1% during 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 purchasing an additional 15,694,336 shares during the period. Bank of Nova Scotia grew its holdings in TC Energy by 80.3% during 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 buying an additional 7,562,887 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in TC Energy by 34.2% during 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 buying an additional 5,053,228 shares in the last quarter. Deutsche Bank AG increased its position in shares of TC Energy by 175.1% during the first quarter. Deutsche Bank AG now owns 5,758,203 shares of the pipeline company’s stock valued at $271,845,000 after buying an additional 3,664,862 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of TC Energy by 31.3% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,418,858 shares of the pipeline company’s stock worth $444,885,000 after buying an additional 2,242,918 shares in the last quarter. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Barclays reaffirmed an “overweight” rating on shares of TC Energy in a research note on Tuesday, October 14th. Cibc Captl Mkts upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. Scotiabank reaffirmed an “outperform” rating on shares of TC Energy in a report on Monday, October 20th. Cibc World Mkts downgraded TC Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. Finally, TD Securities restated a “buy” rating on shares of TC Energy in a research report on Friday, October 17th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $77.00.

TC Energy Stock Performance

TC Energy stock opened at $54.42 on Friday. TC Energy Corporation has a fifty-two week low of $43.51 and a fifty-two week high of $55.37. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.54 and a current ratio of 0.61. The stock has a market cap of $56.63 billion, a P/E ratio of 18.57, a price-to-earnings-growth ratio of 4.82 and a beta of 0.73. The firm’s fifty day moving average price is $52.35 and its 200-day moving average price is $50.43.

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, meeting analysts’ consensus estimates of $0.56. TC Energy had a return on equity of 11.22% and a net margin of 28.98%.The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $2.63 billion. During the same quarter in the prior year, the firm earned $1.03 earnings per share. On average, equities research analysts expect that TC Energy Corporation will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be given a dividend of $0.85 per share. This is a boost from TC Energy’s previous quarterly dividend of $0.61. The ex-dividend date is Wednesday, December 31st. This represents a $3.40 annualized dividend and a dividend yield of 6.2%. TC Energy’s dividend payout ratio is currently 103.88%.

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.