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Canada's pension fund大幅 reduced its TC Energy stake despite strong earnings and dividend hike.
The Public Sector Pension Investment Board slashed its stake in TC Energy by 96.2% in Q3, retaining about 100,872 shares.
The company reported Q4 earnings of $0.70 per share, beating estimates, though revenue fell short.
It raised its quarterly dividend to $0.8775, yielding 5.6%, but the payout ratio exceeds 106%.
TC Energy operates major energy infrastructure across North America, with a market cap of $65.09 billion and a stock price near $62.51.
Analysts expect full-year earnings of $2.63, with mixed ratings and a consensus target of $72.50.
Jefferies raised its price target to C$88.00, citing strong fundamentals, while ATB Cormark increased its target to C$80.00.
El fondo de pensiones de Canadá redujo considerablemente su participación en TC Energy a pesar de las fuertes ganancias y el aumento de los dividendos.