Mackenzie Financial Corp Sells 445,601 Shares of TC Energy Corporation $TRP

Mackenzie Financial Corp lessened its holdings in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 3.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,794,068 shares of the pipeline company’s stock after selling 445,601 shares during the quarter. TC Energy accounts for 0.8% of Mackenzie Financial Corp’s investment portfolio, making the stock its 28th largest position. Mackenzie Financial Corp’s holdings in TC Energy were worth $624,991,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. FORA Capital LLC purchased a new position in TC Energy in the first quarter valued at about $776,000. Fractal Investments LLC raised its holdings in shares of TC Energy by 34.4% in the 2nd quarter. Fractal Investments LLC now owns 649,000 shares of the pipeline company’s stock worth $31,665,000 after purchasing an additional 166,000 shares during the period. Miller Howard Investments Inc. NY lifted its stake in TC Energy by 93.8% in the second quarter. Miller Howard Investments Inc. NY now owns 1,153,849 shares of the pipeline company’s stock valued at $56,296,000 after purchasing an additional 558,498 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in TC Energy during the first quarter valued at $273,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in TC Energy in the 1st quarter worth about $833,000. 83.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on TRP shares. 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. US Capital Advisors cut shares of TC Energy from a “moderate buy” rating to a “hold” rating in a research note on Thursday, August 21st. Weiss Ratings reiterated a “hold (c+)” rating on shares of TC Energy in a research note on Tuesday. BMO Capital Markets upgraded TC Energy from a “market perform” rating to an “outperform” rating in a research report on Friday, November 7th. Finally, Royal Bank Of Canada lifted their price target on TC Energy from $74.00 to $84.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $84.00.

TC Energy Stock Up 0.2%

Shares of NYSE TRP opened at $54.09 on Friday. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.54. The business has a 50-day moving average of $52.80 and a 200-day moving average of $50.74. The firm has a market capitalization of $56.30 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 4.82 and a beta of 0.73. TC Energy Corporation has a 12 month low of $43.51 and a 12 month high of $55.37.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Thursday, November 6th. The pipeline company reported $0.56 EPS for the quarter, hitting analysts’ consensus estimates of $0.56. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $2.63 billion. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. During the same quarter in the previous year, the company earned $1.03 EPS. Sell-side 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 declared a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 6.3%. This is an increase from TC Energy’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Wednesday, December 31st. TC Energy’s dividend payout ratio is presently 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.