Lincluden Management Ltd. Sells 61,696 Shares of TC Energy Corporation $TRP

Lincluden Management Ltd. lowered its stake in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 7.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 825,906 shares of the pipeline company’s stock after selling 61,696 shares during the period. TC Energy makes up 5.1% of Lincluden Management Ltd.’s investment portfolio, making the stock its 5th largest position. Lincluden Management Ltd.’s holdings in TC Energy were worth $44,640,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Larson Financial Group LLC raised its stake in TC Energy by 65.3% in the 3rd quarter. Larson Financial Group LLC now owns 805 shares of the pipeline company’s stock worth $44,000 after acquiring an additional 318 shares during the last quarter. Focus Partners Wealth grew its stake in TC Energy by 8.9% during the 3rd quarter. Focus Partners Wealth now owns 11,667 shares of the pipeline company’s stock valued at $635,000 after purchasing an additional 952 shares during the last quarter. Elevation Point Wealth Partners LLC grew its stake in TC Energy by 4.3% during the 3rd quarter. Elevation Point Wealth Partners LLC now owns 23,060 shares of the pipeline company’s stock valued at $1,269,000 after purchasing an additional 942 shares during the last quarter. Brevan Howard Capital Management LP acquired a new position in shares of TC Energy in the third quarter valued at about $702,000. Finally, Boothbay Fund Management LLC increased its holdings in shares of TC Energy by 9.9% in the third quarter. Boothbay Fund Management LLC now owns 80,657 shares of the pipeline company’s stock valued at $4,389,000 after purchasing an additional 7,267 shares during the period. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Stock Performance

Shares of TRP stock opened at $64.24 on Tuesday. TC Energy Corporation has a 52-week low of $43.59 and a 52-week high of $65.57. The company has a quick ratio of 0.56, a current ratio of 0.63 and a debt-to-equity ratio of 1.66. The stock has a market cap of $66.89 billion, a PE ratio of 27.64 and a beta of 0.72. The business has a 50-day simple moving average of $59.72 and a 200-day simple moving average of $55.52.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Friday, February 13th. The pipeline company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.65 by $0.05. The firm had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.94 billion. TC Energy had a return on equity of 10.52% and a net margin of 23.04%.During the same period last year, the company earned $1.05 earnings per share. On average, equities analysts expect that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.8775 per share. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend is Tuesday, March 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.85. TC Energy’s dividend payout ratio is 106.90%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Raymond James Financial raised TC Energy to a “hold” rating in a report on Tuesday, February 17th. The Goldman Sachs Group increased their price target on shares of TC Energy from $48.00 to $53.00 and gave the stock a “sell” rating in a report on Wednesday, February 18th. National Bank Financial lowered shares of TC Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Canadian Imperial Bank of Commerce cut shares of TC Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of TC Energy in a report on Monday, December 29th. Seven equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $72.50.

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.