Federated Hermes Inc. Sells 220,121 Shares of TC Energy Co. (NYSE:TRP)

Federated Hermes Inc. cut its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 6.3% in the 4th quarter, Holdings Channel reports. The firm owned 3,291,164 shares of the pipeline company’s stock after selling 220,121 shares during the period. Federated Hermes Inc.’s holdings in TC Energy were worth $128,652,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC bought a new stake in TC Energy during the fourth quarter worth $26,000. Hexagon Capital Partners LLC lifted its stake in shares of TC Energy by 158.3% in the 3rd quarter. Hexagon Capital Partners LLC now owns 1,085 shares of the pipeline company’s stock valued at $37,000 after acquiring an additional 665 shares during the last quarter. Money Concepts Capital Corp lifted its stake in shares of TC Energy by 149.1% in the 4th quarter. Money Concepts Capital Corp now owns 949 shares of the pipeline company’s stock valued at $38,000 after acquiring an additional 568 shares during the last quarter. Chilton Capital Management LLC bought a new position in shares of TC Energy in the 1st quarter valued at $41,000. Finally, Peoples Bank KS bought a new position in shares of TC Energy in the 3rd quarter valued at $45,000. 83.13% of the stock is currently owned by institutional investors.

TC Energy Trading Up 0.8 %

NYSE TRP traded up $0.29 on Thursday, reaching $35.39. The company had a trading volume of 782,947 shares, compared to its average volume of 2,915,602. The firm has a market cap of $35.39 billion, a price-to-earnings ratio of 17.29, a P/E/G ratio of 2.94 and a beta of 0.75. TC Energy Co. has a fifty-two week low of $32.51 and a fifty-two week high of $42.49. The business has a 50 day moving average of $39.14 and a two-hundred day moving average of $37.96. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.96 and a quick ratio of 0.88.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Friday, February 16th. The pipeline company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.20. TC Energy had a return on equity of 18.60% and a net margin of 18.25%. The firm had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.93 billion. Analysts forecast that TC Energy Co. will post 2.99 EPS for the current year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be issued a dividend of $0.714 per share. This is an increase from TC Energy’s previous quarterly dividend of $0.67. This represents a $2.86 dividend on an annualized basis and a yield of 8.07%. The ex-dividend date is Wednesday, March 27th. TC Energy’s dividend payout ratio (DPR) is presently 139.41%.

Analysts Set New Price Targets

A number of brokerages have recently commented on TRP. Jefferies Financial Group began coverage on TC Energy in a research note on Tuesday, February 27th. They issued a “hold” rating for the company. Barclays increased 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 increased their price target on TC Energy from $29.00 to $32.00 and gave the company a “sell” rating in a research note on Friday, January 26th. TheStreet upgraded TC Energy from a “c+” rating to a “b-” rating in a research note on Wednesday, March 20th. Finally, Stifel Nicolaus initiated coverage on TC Energy in a research note on Thursday, January 18th. They issued a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $48.83.

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.