Addenda Capital Inc. Sells 20,460 Shares of TC Energy Corporation $TRP

Addenda Capital Inc. trimmed its stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 2.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 918,924 shares of the pipeline company’s stock after selling 20,460 shares during the quarter. TC Energy comprises approximately 1.8% of Addenda Capital Inc.’s investment portfolio, making the stock its 17th biggest position. Addenda Capital Inc. owned about 0.09% of TC Energy worth $50,550,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TRP. Trust Co. of Vermont acquired a new stake in TC Energy during the 4th quarter worth approximately $28,000. Westside Investment Management Inc. boosted its stake in TC Energy by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 594 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 297 shares during the period. SWAN Capital LLC bought a new stake in shares of TC Energy in the third quarter valued at about $40,000. Smartleaf Asset Management LLC boosted its position in shares of TC Energy by 237.4% in the third quarter. Smartleaf Asset Management LLC now owns 803 shares of the pipeline company’s stock valued at $43,000 after acquiring an additional 565 shares during the period. Finally, Larson Financial Group LLC boosted its position in shares of TC Energy by 65.3% in the third quarter. Larson Financial Group LLC now owns 805 shares of the pipeline company’s stock valued at $44,000 after acquiring an additional 318 shares during the period. 83.13% of the stock is owned by institutional investors.

TC Energy Stock Up 0.9%

TRP stock opened at $64.03 on Thursday. The company has a market cap of $66.70 billion, a PE ratio of 27.55 and a beta of 0.69. The business has a 50-day simple moving average of $62.64 and a 200 day simple moving average of $56.85. TC Energy Corporation has a 52 week low of $43.93 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.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. The business had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.94 billion. TC Energy had a return on equity of 10.52% and a net margin of 23.04%.During the same quarter in the previous year, the firm earned $1.05 earnings per share. Sell-side analysts anticipate that TC Energy Corporation will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.8775 per share. 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. This represents a $3.51 annualized dividend and a yield of 5.5%. TC Energy’s payout ratio is presently 110.78%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on TRP shares. TD Securities cut shares of TC Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Barclays reissued an “overweight” rating on shares of TC Energy in a research report on Friday, February 20th. Raymond James Financial raised shares of TC Energy to a “hold” rating in a research report on Tuesday, February 17th. Weiss Ratings reissued a “buy (b-)” rating on shares of TC Energy in a research report on Monday, December 29th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of TC Energy in a research report on Tuesday, February 17th. Seven analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, TC Energy presently has a consensus rating of “Hold” and an average price target 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.