Healthcare of Ontario Pension Plan Trust Fund Sells 4,620,966 Shares of TC Energy Corporation $TRP

Healthcare of Ontario Pension Plan Trust Fund cut its stake in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 32.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,579,034 shares of the pipeline company’s stock after selling 4,620,966 shares during the period. TC Energy accounts for 0.9% of Healthcare of Ontario Pension Plan Trust Fund’s investment portfolio, making the stock its 22nd largest holding. Healthcare of Ontario Pension Plan Trust Fund owned about 0.92% of TC Energy worth $527,528,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in TRP. GQG Partners LLC boosted its holdings in TC Energy by 586.5% in the fourth quarter. GQG Partners LLC now owns 16,154,469 shares of the pipeline company’s stock valued at $890,711,000 after acquiring an additional 13,801,371 shares during the last quarter. Norges Bank bought a new stake in TC Energy in the fourth quarter valued at approximately $583,732,000. Deutsche Bank AG boosted its holdings in TC Energy by 63.2% in the fourth quarter. Deutsche Bank AG now owns 15,384,255 shares of the pipeline company’s stock valued at $846,288,000 after acquiring an additional 5,956,263 shares during the last quarter. American Century Companies Inc. boosted its holdings in TC Energy by 514.5% in the third quarter. American Century Companies Inc. now owns 6,491,799 shares of the pipeline company’s stock valued at $352,976,000 after acquiring an additional 5,435,310 shares during the last quarter. Finally, BROOKFIELD Corp ON bought a new stake in TC Energy in the second quarter valued at approximately $78,443,000. 83.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on TRP shares. National Bank Financial upgraded TC Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, May 4th. Wells Fargo & Company reiterated an “overweight” rating on shares of TC Energy in a report on Monday, February 16th. Raymond James Financial raised TC Energy to a “hold” rating in a research note on Tuesday, February 17th. Wall Street Zen raised TC Energy from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, Barclays reissued an “overweight” rating on shares of TC Energy in a research note on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, TC Energy presently has an average rating of “Moderate Buy” and an average target price of $78.50.

TC Energy Price Performance

Shares of NYSE:TRP opened at $69.39 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 1.67. TC Energy Corporation has a twelve month low of $46.29 and a twelve month high of $71.47. The stock’s 50 day moving average is $65.69 and its 200-day moving average is $61.03. The firm has a market capitalization of $69.39 billion, a price-to-earnings ratio of 30.12 and a beta of 0.66.

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

TC Energy Announces Dividend

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

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.