Westerkirk Capital Inc. Reduces Holdings in TC Energy Corporation $TRP

by · The Markets Daily

Westerkirk Capital Inc. trimmed its holdings in shares of TC Energy Corporation (NYSE:TRP – Free Report) (TSE:TRP) by 16.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 43,662 shares of the pipeline company’s stock after selling 8,851 shares during the quarter. Westerkirk Capital Inc.’s holdings in TC Energy were worth $2,376,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Campbell & CO Investment Adviser LLC purchased a new position in shares of TC Energy in the third quarter valued at about $1,391,000. Norges Bank purchased a new stake in shares of TC Energy during the second quarter worth about $493,434,000. Advisors Asset Management Inc. raised its stake in TC Energy by 38.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 88,140 shares of the pipeline company’s stock valued at $4,796,000 after purchasing an additional 24,617 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its stake in TC Energy by 9.2% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,365,500 shares of the pipeline company’s stock valued at $74,297,000 after purchasing an additional 115,000 shares during the period. Finally, Ausbil Investment Management Ltd lifted its holdings in TC Energy by 33.2% in the 3rd quarter. Ausbil Investment Management Ltd now owns 100,519 shares of the pipeline company’s stock worth $5,415,000 after purchasing an additional 25,026 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors.

TC Energy Trading Down 0.2%

TRP stock opened at $62.39 on Friday. The firm has a fifty day moving average price of $56.97 and a 200 day moving average price of $54.03. TC Energy Corporation has a fifty-two week low of $43.59 and a fifty-two week high of $63.94. The firm has a market cap of $64.96 billion, a PE ratio of 26.85 and a beta of 0.73. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.56 and a current ratio of 0.63.

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

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be issued a $0.8775 dividend. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.6%. 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. TC Energy’s payout ratio is 106.90%.

Wall Street Analyst Weigh In

TRP has been the subject of a number of research analyst reports. National Bank Financial lowered shares of TC Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Weiss Ratings restated a “buy (b-)” rating on shares of TC Energy in a research report on Monday, December 29th. Scotiabank reaffirmed an “outperform” rating on shares of TC Energy in a research note on Tuesday. Royal Bank Of Canada lifted their price target on shares of TC Energy from $84.00 to $92.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Canadian Imperial Bank of Commerce cut shares of TC Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Seven equities research 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 currently has a consensus rating of “Hold” and an average price target of $72.50.

Get Our Latest Report on TRP

TC Energy Company Profile

(Free Report)

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.

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