Varma Mutual Pension Insurance Co Reduces Stake in TC Energy Corporation $TRP

Varma Mutual Pension Insurance Co cut its stake in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 5.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 215,100 shares of the pipeline company’s stock after selling 11,700 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in TC Energy were worth $11,860,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mesirow Financial Investment Management Inc. boosted its stake in shares of TC Energy by 2.0% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 9,991 shares of the pipeline company’s stock valued at $544,000 after purchasing an additional 200 shares in the last quarter. Gold Investment Management Ltd. lifted its stake in shares of TC Energy by 2.0% in the 4th quarter. Gold Investment Management Ltd. now owns 9,964 shares of the pipeline company’s stock valued at $549,000 after purchasing an additional 200 shares during the period. Kingswood Wealth Advisors LLC lifted its stake in shares of TC Energy by 2.8% in the 3rd quarter. Kingswood Wealth Advisors LLC now owns 7,342 shares of the pipeline company’s stock valued at $399,000 after purchasing an additional 202 shares during the period. Kennebec Savings Bank lifted its stake in shares of TC Energy by 2.1% in the 4th quarter. Kennebec Savings Bank now owns 9,854 shares of the pipeline company’s stock valued at $542,000 after purchasing an additional 203 shares during the period. Finally, Checchi Capital Advisers LLC lifted its stake in shares of TC Energy by 3.4% in the 3rd quarter. Checchi Capital Advisers LLC now owns 6,171 shares of the pipeline company’s stock valued at $336,000 after purchasing an additional 204 shares during the period. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Trading Down 0.8%

TC Energy stock opened at $66.04 on Tuesday. The company has a current ratio of 0.63, a quick ratio of 0.56 and a debt-to-equity ratio of 1.66. The business’s fifty day simple moving average is $63.11 and its two-hundred day simple moving average is $57.83. TC Energy Corporation has a 12 month low of $46.29 and a 12 month high of $67.31. The company has a market capitalization of $68.80 billion, a price-to-earnings ratio of 28.66 and a beta of 0.67.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Friday, May 1st. The pipeline company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.70 by $0.02. TC Energy had a return on equity of 10.77% and a net margin of 22.22%.The business had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the previous year, the company posted $0.95 earnings per share. As a group, equities analysts predict that TC Energy Corporation will post 2.76 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, July 31st. Investors of record on Tuesday, June 30th will be given a dividend of $0.8775 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.51 annualized dividend and a dividend yield of 5.3%. TC Energy’s dividend payout ratio (DPR) is 109.57%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Wells Fargo & Company reissued an “overweight” rating on shares of TC Energy in a research report on Monday, February 16th. Royal Bank Of Canada raised their price objective on TC Energy from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Monday. Scotiabank reissued an “outperform” rating on shares of TC Energy in a research report on Monday. Canadian Imperial Bank of Commerce raised TC Energy from a “neutral” rating to a “sector outperform” rating in a research report on Thursday, April 23rd. Finally, National Bank Financial raised TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, TC Energy has a consensus rating of “Moderate Buy” and an average target price of $78.50.

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.