DORCHESTER WEALTH MANAGEMENT Co Lowers Holdings in TC Energy Co. (NYSE:TRP)

DORCHESTER WEALTH MANAGEMENT Co decreased its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 4.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 268,821 shares of the pipeline company’s stock after selling 11,811 shares during the quarter. TC Energy accounts for about 2.2% of DORCHESTER WEALTH MANAGEMENT Co’s holdings, making the stock its 12th biggest holding. DORCHESTER WEALTH MANAGEMENT Co’s holdings in TC Energy were worth $12,595,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Capital Research Global Investors boosted its stake in shares of TC Energy by 2.7% in the first quarter. Capital Research Global Investors now owns 57,170,304 shares of the pipeline company’s stock valued at $2,297,701,000 after purchasing an additional 1,492,315 shares during the period. Vanguard Group Inc. increased its holdings in shares of TC Energy by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 41,057,330 shares of the pipeline company’s stock valued at $1,650,505,000 after acquiring an additional 653,031 shares during the period. Canada Pension Plan Investment Board increased its holdings in shares of TC Energy by 107.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 19,462,155 shares of the pipeline company’s stock valued at $737,609,000 after acquiring an additional 10,065,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its stake in TC Energy by 94.9% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 17,124,818 shares of the pipeline company’s stock valued at $688,534,000 after buying an additional 8,339,800 shares during the period. Finally, TD Asset Management Inc boosted its position in shares of TC Energy by 9.5% in the 1st quarter. TD Asset Management Inc now owns 16,763,150 shares of the pipeline company’s stock worth $674,366,000 after buying an additional 1,458,732 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Stock Up 0.6 %

NYSE:TRP traded up $0.27 during trading hours on Thursday, hitting $47.23. The stock had a trading volume of 86,504 shares, compared to its average volume of 3,186,394. TC Energy Co. has a 1-year low of $30.61 and a 1-year high of $48.25. The company has a current ratio of 0.76, a quick ratio of 0.68 and a debt-to-equity ratio of 1.57. The company has a market cap of $49.02 billion, a PE ratio of 19.24, a price-to-earnings-growth ratio of 3.92 and a beta of 0.81. The business has a 50 day simple moving average of $46.08 and a two-hundred day simple moving average of $41.40.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.29. The business had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.78 billion. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. During the same period in the previous year, the business earned $0.71 earnings per share. Analysts predict that TC Energy Co. will post 3.02 EPS for the current year.

TC Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be paid a dividend of $0.702 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.81 annualized dividend and a yield of 5.95%. TC Energy’s dividend payout ratio (DPR) is presently 116.80%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Barclays upgraded shares of TC Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, July 17th. JPMorgan Chase & Co. raised shares of TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. The Goldman Sachs Group increased their target price on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research report on Monday. StockNews.com began coverage on shares of TC Energy in a research report on Saturday, October 5th. They set a “hold” rating for the company. Finally, Veritas raised shares of TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $48.50.

TC Energy Company Profile

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through five segments: Canadian Natural Gas Pipelines; U.S. Natural Gas Pipelines; Mexico Natural Gas Pipelines; Liquids Pipelines; and Power and Energy Solutions. The company builds and operates a network of 93,600 kilometers of natural gas pipelines, which transports natural gas from supply basins to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other businesses.