Dixon Mitchell Investment Counsel Inc. Has $91,000 Position in TC Energy Co. (NYSE:TRP)

Dixon Mitchell Investment Counsel Inc. grew its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 21.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,921 shares of the pipeline company’s stock after purchasing an additional 338 shares during the quarter. Dixon Mitchell Investment Counsel Inc.’s holdings in TC Energy were worth $91,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Canada Pension Plan Investment Board lifted its position in shares of TC Energy by 107.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 19,462,155 shares of the pipeline company’s stock valued at $737,609,000 after acquiring an additional 10,065,000 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in TC Energy by 156.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company’s stock worth $321,778,000 after buying an additional 4,126,801 shares during the period. Merewether Investment Management LP bought a new position in TC Energy in the second quarter worth approximately $112,618,000. Marshall Wace LLP grew its stake in TC Energy by 841.1% in the second quarter. Marshall Wace LLP now owns 2,040,863 shares of the pipeline company’s stock valued at $77,349,000 after acquiring an additional 1,824,008 shares during the period. Finally, Zurich Insurance Group Ltd FI bought a new stake in shares of TC Energy during the third quarter valued at approximately $73,162,000. Institutional investors own 83.13% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on TRP shares. BMO Capital Markets lifted their price objective on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. TD Securities began coverage on TC Energy in a research report on Wednesday. They issued a “buy” rating for the company. Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. Finally, The Goldman Sachs Group raised their price target on shares of TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research report on Monday, October 21st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $55.67.

TC Energy Stock Down 0.5 %

TRP opened at $46.65 on Thursday. The company’s 50-day moving average price is $47.71 and its two-hundred day moving average price is $45.48. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78. TC Energy Co. has a twelve month low of $31.83 and a twelve month high of $50.37. The stock has a market cap of $48.46 billion, a price-to-earnings ratio of 12.92, a PEG ratio of 4.31 and a beta of 0.82.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.06. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. The business had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.83 billion. As a group, equities analysts expect that TC Energy Co. will post 2.95 earnings per share for the current year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.822 dividend. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. This represents a $3.29 dividend on an annualized basis and a dividend yield of 7.05%. The ex-dividend date of this dividend is Tuesday, December 31st. TC Energy’s dividend payout ratio (DPR) is presently 63.43%.

TC Energy 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.