TC Energy Corporation $TRP Shares Sold by Cardinal Capital Management Inc.

Cardinal Capital Management Inc. decreased its position in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 0.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 2,537,275 shares of the pipeline company’s stock after selling 16,308 shares during the period. TC Energy accounts for approximately 3.3% of Cardinal Capital Management Inc.’s portfolio, making the stock its 9th largest holding. Cardinal Capital Management Inc.’s holdings in TC Energy were worth $147,269,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TRP. Groupe la Francaise raised its holdings in TC Energy by 2.1% in the 1st quarter. Groupe la Francaise now owns 7,352 shares of the pipeline company’s stock valued at $459,000 after acquiring an additional 154 shares during the last quarter. Wealthstar Advisors LLC lifted its stake in shares of TC Energy by 1.5% during the 1st quarter. Wealthstar Advisors LLC now owns 11,465 shares of the pipeline company’s stock worth $718,000 after purchasing an additional 165 shares during the period. Nations Financial Group Inc. IA ADV grew its position in shares of TC Energy by 5.7% in the first quarter. Nations Financial Group Inc. IA ADV now owns 3,911 shares of the pipeline company’s stock valued at $245,000 after purchasing an additional 210 shares during the period. Roxbury Financial LLC grew its position in shares of TC Energy by 4.4% in the first quarter. Roxbury Financial LLC now owns 6,051 shares of the pipeline company’s stock valued at $379,000 after purchasing an additional 257 shares during the period. Finally, Envestnet Portfolio Solutions Inc. increased its stake in TC Energy by 1.1% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 22,946 shares of the pipeline company’s stock valued at $1,519,000 after purchasing an additional 257 shares during the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Barclays reiterated an “overweight” rating on shares of TC Energy in a research report on Thursday, July 16th. Royal Bank Of Canada restated a “moderate buy” rating and issued a $106.00 price target on shares of TC Energy in a report on Friday, September 11th. Scotiabank reaffirmed an “outperform” rating on shares of TC Energy in a research note on Tuesday, July 21st. US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a report on Thursday, August 20th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $99.00 target price on shares of TC Energy in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, TC Energy currently has a consensus rating of “Moderate Buy” and an average price target of $92.00.

TC Energy Stock Up 3.2%

Shares of NYSE TRP opened at $61.59 on Friday. TC Energy Corporation has a 1 year low of $49.27 and a 1 year high of $71.47. The firm has a market cap of $61.59 billion, a price-to-earnings ratio of 22.43 and a beta of 0.70. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.54 and a current ratio of 0.61. The stock’s 50-day simple moving average is $61.41 and its 200-day simple moving average is $64.74.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Thursday, July 30th. The pipeline company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.61 by $0.07. The business had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.76 billion. TC Energy had a return on equity of 11.10% and a net margin of 22.91%. During the same quarter in the previous year, the firm posted $0.82 earnings per share. As a group, equities analysts anticipate that TC Energy Corporation will post 2.77 earnings per share for the current fiscal year.

TC Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Tuesday, September 29th will be issued a dividend of C$0.88 per share. The ex-dividend date is Tuesday, September 29th. This represents a $3.51 annualized dividend and a yield of 5.7%. TC Energy’s payout ratio is currently 104.98%.

TC Energy Profile

TC Energy Corporation is an energy infrastructure company that develops and operates natural gas pipeline, storage and power-generation assets. Its pipeline network transports natural gas from producing regions to utilities, industrial customers, power generators and export markets, while its storage facilities help support seasonal and daily demand.

The company’s operations are concentrated in Canada, the United States and Mexico. Its major systems include the Canadian Mainline, which connects Western Canadian natural gas supplies with markets in Eastern Canada and the United States, as well as U.S.