Nicola Wealth Management LTD. Buys 2,045,300 Shares of TC Energy Corporation $TRP

Nicola Wealth Management LTD. lifted its position in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 793.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,302,996 shares of the pipeline company’s stock after purchasing an additional 2,045,300 shares during the quarter. TC Energy makes up 11.1% of Nicola Wealth Management LTD.’s investment portfolio, making the stock its biggest holding. Nicola Wealth Management LTD. owned about 0.22% of TC Energy worth $125,229,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. AQR Capital Management LLC grew its position in TC Energy by 54.0% during the 1st quarter. AQR Capital Management LLC now owns 11,099 shares of the pipeline company’s stock worth $538,000 after purchasing an additional 3,892 shares during the last quarter. Focus Partners Wealth raised its stake in shares of TC Energy by 46.1% during the first quarter. Focus Partners Wealth now owns 12,446 shares of the pipeline company’s stock worth $588,000 after purchasing an additional 3,929 shares during the last quarter. Intech Investment Management LLC lifted its holdings in shares of TC Energy by 200.7% during the first quarter. Intech Investment Management LLC now owns 26,878 shares of the pipeline company’s stock worth $1,269,000 after purchasing an additional 17,939 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of TC Energy by 21.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 24,893 shares of the pipeline company’s stock worth $1,199,000 after acquiring an additional 4,362 shares during the period. Finally, Park Avenue Securities LLC increased its stake in shares of TC Energy by 2.3% during the second quarter. Park Avenue Securities LLC now owns 9,947 shares of the pipeline company’s stock worth $485,000 after acquiring an additional 225 shares during the period. 83.13% of the stock is owned by institutional investors and hedge funds.

TC Energy Stock Up 0.1%

Shares of NYSE TRP opened at $56.32 on Tuesday. The stock has a fifty day moving average price of $54.58 and a 200 day moving average price of $52.39. The company has a current ratio of 0.63, a quick ratio of 0.56 and a debt-to-equity ratio of 1.60. TC Energy Corporation has a 12-month low of $43.51 and a 12-month high of $56.91. The company has a market cap of $58.62 billion, a P/E ratio of 24.28 and a beta of 0.72.

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

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Investors 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 6.0%. This is a boost from TC Energy’s previous quarterly dividend of $0.61. The ex-dividend date is Wednesday, December 31st. TC Energy’s dividend payout ratio (DPR) is 106.90%.

Analyst Ratings Changes

TRP has been the topic of several recent analyst reports. Wall Street Zen cut TC Energy from a “hold” rating to a “sell” rating in a research report on Sunday, January 4th. Cibc World Mkts downgraded TC Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. TD Securities reissued a “buy” rating on shares of TC Energy in a report on Friday, October 17th. Royal Bank Of Canada increased their target price on shares of TC Energy from $74.00 to $84.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Finally, Cibc Captl Mkts upgraded TC Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $84.00.

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.