Intact Investment Management Inc. Has $30.28 Million Stake in TC Energy Co. (NYSE:TRP)

Intact Investment Management Inc. decreased its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 61.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 775,184 shares of the pipeline company’s stock after selling 1,218,396 shares during the period. TC Energy comprises 1.2% of Intact Investment Management Inc.’s portfolio, making the stock its 26th largest holding. Intact Investment Management Inc. owned about 0.08% of TC Energy worth $30,282,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in TRP. IFP Advisors Inc increased its holdings in shares of TC Energy by 74.8% in the 3rd quarter. IFP Advisors Inc now owns 3,455 shares of the pipeline company’s stock valued at $119,000 after purchasing an additional 1,478 shares during the period. SG Americas Securities LLC grew its stake in shares of TC Energy by 747.1% in the 3rd quarter. SG Americas Securities LLC now owns 22,627 shares of the pipeline company’s stock valued at $779,000 after buying an additional 19,956 shares in the last quarter. Private Trust Co. NA grew its stake in shares of TC Energy by 10.2% in the 3rd quarter. Private Trust Co. NA now owns 5,817 shares of the pipeline company’s stock valued at $200,000 after buying an additional 540 shares in the last quarter. Simplicity Solutions LLC grew its stake in shares of TC Energy by 1.7% in the 3rd quarter. Simplicity Solutions LLC now owns 112,622 shares of the pipeline company’s stock valued at $3,876,000 after buying an additional 1,880 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its stake in shares of TC Energy by 10.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 92,505 shares of the pipeline company’s stock valued at $3,183,000 after buying an additional 8,378 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Barclays boosted their price target on TC Energy from $53.00 to $55.00 and gave the company an “equal weight” rating in a research note on Monday, January 29th. The Goldman Sachs Group upped their target price on TC Energy from $29.00 to $32.00 and gave the stock a “sell” rating in a research report on Friday, January 26th. Stifel Nicolaus began coverage on TC Energy in a research report on Thursday, January 18th. They set a “buy” rating for the company. Jefferies Financial Group began coverage on TC Energy in a research report on Tuesday, February 27th. They set a “hold” rating for the company. Finally, TheStreet raised TC Energy from a “c+” rating to a “b-” rating in a research report on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $48.83.

TC Energy Stock Performance

NYSE:TRP traded up $0.01 during trading hours on Friday, hitting $36.10. 2,934,696 shares of the company traded hands, compared to its average volume of 4,243,999. The stock has a market capitalization of $36.10 billion, a price-to-earnings ratio of 17.77, a P/E/G ratio of 3.12 and a beta of 0.75. TC Energy Co. has a twelve month low of $32.51 and a twelve month high of $42.49. The firm has a 50-day moving average of $38.83 and a 200 day moving average of $38.04. The company has a current ratio of 0.96, a quick ratio of 0.88 and a debt-to-equity ratio of 1.65.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Friday, February 16th. The pipeline company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.79 by $0.20. The firm had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $2.93 billion. TC Energy had a net margin of 18.25% and a return on equity of 18.60%. On average, analysts forecast that TC Energy Co. will post 2.89 EPS for the current year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be paid a dividend of $0.714 per share. This is a boost from TC Energy’s previous quarterly dividend of $0.67. This represents a $2.86 annualized dividend and a yield of 7.91%. The ex-dividend date is Wednesday, March 27th. TC Energy’s dividend payout ratio is presently 139.41%.

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.