TC Energy Corporation $TRP Shares Bought by Nicola Wealth Management LTD.

Nicola Wealth Management LTD. grew its holdings in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 793.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,302,996 shares of the pipeline company’s stock after purchasing an additional 2,045,300 shares during the period. TC Energy makes up approximately 11.1% of Nicola Wealth Management LTD.’s investment portfolio, making the stock its largest holding. Nicola Wealth Management LTD.’s holdings in TC Energy were worth $125,229,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Pacifica Partners Inc. boosted its holdings in shares of TC Energy by 14.0% in the third quarter. Pacifica Partners Inc. now owns 1,625 shares of the pipeline company’s stock valued at $87,000 after acquiring an additional 200 shares in the last quarter. Kingswood Wealth Advisors LLC raised its holdings in shares of TC Energy by 2.8% during the third quarter. Kingswood Wealth Advisors LLC now owns 7,342 shares of the pipeline company’s stock valued at $399,000 after acquiring an additional 202 shares during the period. Park Avenue Securities LLC lifted its position in shares of TC Energy by 2.3% in the 2nd quarter. Park Avenue Securities LLC now owns 9,947 shares of the pipeline company’s stock valued at $485,000 after acquiring an additional 225 shares in the last quarter. Gold Investment Management Ltd. grew its holdings in shares of TC Energy by 2.5% during the second quarter. Gold Investment Management Ltd. now owns 9,656 shares of the pipeline company’s stock valued at $471,000 after buying an additional 232 shares in the last quarter. Finally, Ewing Morris & Co. Investment Partners Ltd. increased its holdings in shares of TC Energy by 0.6% in the 2nd quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 37,962 shares of the pipeline company’s stock valued at $1,873,000 after purchasing an additional 234 shares during the period. Institutional investors and hedge funds own 83.13% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on TRP. Barclays reaffirmed an “overweight” rating on shares of TC Energy in a research report on Tuesday, October 14th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of TC Energy in a research note on Monday, December 29th. Cibc Captl Mkts raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. Scotiabank reaffirmed an “outperform” rating on shares of TC Energy in a research note on Monday, October 20th. Finally, Cibc World Mkts lowered shares of TC Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, TC Energy presently has an average rating of “Moderate Buy” and a consensus target price of $84.00.

TC Energy Trading Up 0.1%

Shares of NYSE:TRP opened at $56.32 on Tuesday. TC Energy Corporation has a one year low of $43.51 and a one year high of $56.91. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.63 and a quick ratio of 0.56. The company’s 50-day moving average price is $54.58 and its two-hundred day moving average price is $52.39. The stock has a market capitalization of $58.62 billion, a PE ratio of 24.28 and a beta of 0.72.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Thursday, November 6th. The pipeline company reported $0.56 EPS for the quarter, hitting analysts’ consensus estimates of $0.56. TC Energy had a net margin of 23.86% and a return on equity of 10.61%. The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $2.63 billion. During the same period in the previous year, the business posted $1.03 earnings per share. On average, equities analysts forecast that TC Energy Corporation will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date of this dividend is Wednesday, December 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.61. TC Energy’s payout ratio is presently 106.90%.

About TC Energy

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.