TC Energy Co. (NYSE:TRP) Shares Sold by DORCHESTER WEALTH MANAGEMENT Co

DORCHESTER WEALTH MANAGEMENT Co cut its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 1.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 265,181 shares of the pipeline company’s stock after selling 3,640 shares during the quarter. TC Energy comprises 2.4% of DORCHESTER WEALTH MANAGEMENT Co’s investment portfolio, making the stock its 12th biggest position. DORCHESTER WEALTH MANAGEMENT Co’s holdings in TC Energy were worth $12,157,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TRP. Lipe & Dalton boosted its holdings in TC Energy by 1.9% in the 4th quarter. Lipe & Dalton now owns 53,657 shares of the pipeline company’s stock valued at $2,497,000 after purchasing an additional 980 shares during the last quarter. Bell Bank boosted its holdings in TC Energy by 14.3% in the 4th quarter. Bell Bank now owns 175,742 shares of the pipeline company’s stock valued at $8,177,000 after purchasing an additional 21,970 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in TC Energy in the 4th quarter valued at about $93,000. Allianz Asset Management GmbH boosted its holdings in TC Energy by 5.5% in the 4th quarter. Allianz Asset Management GmbH now owns 1,086,132 shares of the pipeline company’s stock valued at $50,591,000 after purchasing an additional 56,566 shares during the last quarter. Finally, First Bank & Trust boosted its holdings in TC Energy by 0.6% in the 4th quarter. First Bank & Trust now owns 58,396 shares of the pipeline company’s stock valued at $2,717,000 after purchasing an additional 347 shares during the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Price Performance

Shares of TRP opened at $44.94 on Friday. TC Energy Co. has a fifty-two week low of $31.83 and a fifty-two week high of $50.37. The firm’s 50 day moving average price is $46.48 and its 200 day moving average price is $46.66. The company has a market cap of $46.70 billion, a P/E ratio of 13.87, a PEG ratio of 4.34 and a beta of 0.81. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.54. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. The firm had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.42 billion. During the same period in the prior year, the firm earned $1.35 EPS. On average, research analysts forecast that TC Energy Co. will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a $0.85 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.82. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.57%. TC Energy’s dividend payout ratio is currently 70.68%.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Veritas upgraded shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 18th. Royal Bank of Canada boosted their price target on shares of TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. TD Securities assumed coverage on shares of TC Energy in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. Finally, BMO Capital Markets boosted their price target on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $62.00.

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.