TC Energy Co. (NYSE:TRP) is JARISLOWSKY FRASER Ltd’s 7th Largest Position

JARISLOWSKY FRASER Ltd lowered its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 1.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,592,857 shares of the pipeline company’s stock after selling 166,474 shares during the quarter. TC Energy accounts for approximately 2.9% of JARISLOWSKY FRASER Ltd’s holdings, making the stock its 7th biggest holding. JARISLOWSKY FRASER Ltd owned 1.26% of TC Energy worth $477,265,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Capital Research Global Investors increased its position 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 buying an additional 1,492,315 shares in the last quarter. Capital International Investors increased its position in shares of TC Energy by 11.8% in the fourth quarter. Capital International Investors now owns 55,161,245 shares of the pipeline company’s stock valued at $2,155,419,000 after buying an additional 5,822,056 shares in the last quarter. Vanguard Group Inc. increased its position in shares of TC Energy by 1.6% in the first quarter. Vanguard Group Inc. now owns 41,057,330 shares of the pipeline company’s stock valued at $1,650,505,000 after buying an additional 653,031 shares in the last quarter. Capital World Investors increased its position in TC Energy by 0.5% during the 4th quarter. Capital World Investors now owns 37,412,046 shares of the pipeline company’s stock worth $1,461,583,000 after purchasing an additional 181,091 shares in the last quarter. Finally, Bank of Nova Scotia increased its position in TC Energy by 13.7% during the 4th quarter. Bank of Nova Scotia now owns 28,980,334 shares of the pipeline company’s stock worth $1,132,854,000 after purchasing an additional 3,497,666 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Stock Down 0.8 %

Shares of NYSE:TRP opened at $46.02 on Thursday. The stock’s 50-day moving average price is $43.75 and its two-hundred day moving average price is $40.29. The company has a current ratio of 0.76, a quick ratio of 0.68 and a debt-to-equity ratio of 1.57. TC Energy Co. has a 12-month low of $32.51 and a 12-month high of $47.38. The firm has a market cap of $46.02 billion, a price-to-earnings ratio of 23.72, a PEG ratio of 3.81 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.29. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. The firm had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same period last year, the company earned $0.71 EPS. On average, research analysts forecast that TC Energy Co. will post 3.06 EPS for the current year.

TC Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be paid a $0.702 dividend. This represents a $2.81 dividend on an annualized basis and a yield of 6.10%. The ex-dividend date is Friday, September 27th. TC Energy’s payout ratio is 146.39%.

Analysts Set New Price Targets

A number of research firms recently commented on TRP. StockNews.com began coverage on TC Energy in a research report on Thursday. They set a “hold” rating for the company. Barclays upgraded TC Energy from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $43.50.

About TC Energy

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.