Healthcare of Ontario Pension Plan Trust Fund Sells 7,741,146 Shares of TC Energy Co. (NYSE:TRP)

Healthcare of Ontario Pension Plan Trust Fund decreased its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 45.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 9,383,672 shares of the pipeline company’s stock after selling 7,741,146 shares during the quarter. TC Energy accounts for approximately 1.0% of Healthcare of Ontario Pension Plan Trust Fund’s holdings, making the stock its 20th biggest holding. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.94% of TC Energy worth $355,755,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in TRP. Intech Investment Management LLC acquired a new stake in shares of TC Energy in the first quarter valued at approximately $1,159,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in TC Energy by 15.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,109,055 shares of the pipeline company’s stock worth $81,599,000 after purchasing an additional 278,886 shares in the last quarter. M&G Plc acquired a new stake in TC Energy in the 1st quarter valued at approximately $111,587,000. Cetera Investment Advisers raised its holdings in shares of TC Energy by 74.1% in the first quarter. Cetera Investment Advisers now owns 98,729 shares of the pipeline company’s stock valued at $3,972,000 after purchasing an additional 42,024 shares during the last quarter. Finally, Maryland State Retirement & Pension System lifted its position in TC Energy by 1.8% during the 1st quarter. Maryland State Retirement & Pension System now owns 1,302,358 shares of the pipeline company’s stock worth $52,355,000 after buying an additional 22,430 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Price Performance

TRP opened at $48.38 on Wednesday. TC Energy Co. has a 1 year low of $32.51 and a 1 year high of $48.42. The firm’s fifty day moving average price is $45.00 and its two-hundred day moving average price is $40.72. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.76 and a quick ratio of 0.68. The company has a market capitalization of $50.19 billion, a price-to-earnings ratio of 24.94, a P/E/G ratio of 3.80 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.65 by $0.29. The company had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.78 billion. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. During the same quarter in the previous year, the firm earned $0.71 earnings per share. As a group, analysts anticipate that TC Energy Co. will post 3.08 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be issued a dividend of $0.702 per share. This represents a $2.81 annualized dividend and a dividend yield of 5.80%. The ex-dividend date is Friday, September 27th. TC Energy’s dividend payout ratio is currently 144.85%.

Wall Street Analyst Weigh In

TRP has been the subject of a number of recent analyst reports. StockNews.com started coverage on TC Energy in a research report on Friday, September 27th. They issued a “hold” rating for the company. UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a report on Monday. Finally, Barclays raised shares of TC Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $43.50.

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.