Nicola Wealth Management LTD. Has $110.15 Million Holdings in TC Energy Corporation $TRP

Nicola Wealth Management LTD. lowered its stake in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 13.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,000,000 shares of the pipeline company’s stock after selling 302,996 shares during the quarter. TC Energy makes up 10.0% of Nicola Wealth Management LTD.’s investment portfolio, making the stock its largest position. Nicola Wealth Management LTD.’s holdings in TC Energy were worth $110,147,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in TRP. Vanguard Group Inc. boosted its position in shares of TC Energy by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 47,801,695 shares of the pipeline company’s stock valued at $2,632,200,000 after acquiring an additional 980,221 shares during the last quarter. Capital Research Global Investors boosted its position in shares of TC Energy by 2.5% during the 3rd quarter. Capital Research Global Investors now owns 41,977,582 shares of the pipeline company’s stock valued at $2,282,469,000 after acquiring an additional 1,041,864 shares during the last quarter. TD Asset Management Inc boosted its position in shares of TC Energy by 2.9% during the 3rd quarter. TD Asset Management Inc now owns 19,624,247 shares of the pipeline company’s stock valued at $1,067,246,000 after acquiring an additional 550,066 shares during the last quarter. Mackenzie Financial Corp boosted its position in shares of TC Energy by 4.4% during the 3rd quarter. Mackenzie Financial Corp now owns 13,351,862 shares of the pipeline company’s stock valued at $725,816,000 after acquiring an additional 557,794 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of TC Energy by 4.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,237,084 shares of the pipeline company’s stock valued at $611,410,000 after acquiring an additional 512,759 shares during the last quarter. Institutional investors own 83.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on TRP shares. Raymond James Financial upgraded TC Energy to a “hold” rating in a research report on Tuesday, February 17th. Canadian Imperial Bank of Commerce upgraded TC Energy from a “neutral” rating to a “sector outperform” rating in a research report on Thursday, April 23rd. Citigroup reiterated a “neutral” rating on shares of TC Energy in a research report on Thursday, February 19th. Scotiabank reiterated an “outperform” rating on shares of TC Energy in a research report on Monday, May 4th. Finally, National Bank Financial upgraded TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $78.50.

TC Energy Stock Performance

NYSE:TRP opened at $70.82 on Monday. The business has a 50 day moving average of $64.23 and a 200 day moving average of $59.48. The company has a market capitalization of $70.82 billion, a price-to-earnings ratio of 30.74 and a beta of 0.67. TC Energy Corporation has a 1-year low of $46.29 and a 1-year high of $71.47. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.65 and a quick ratio of 0.57.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Friday, May 1st. The pipeline company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.20 billion. TC Energy had a return on equity of 10.74% and a net margin of 22.22%.During the same quarter in the previous year, the company posted $0.95 EPS. On average, sell-side analysts predict that TC Energy Corporation will post 2.75 earnings per share for the current fiscal year.

TC Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be given a $0.8775 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $3.51 dividend on an annualized basis and a yield of 5.0%. TC Energy’s payout ratio is presently 109.57%.

TC Energy 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.