TC Energy Corporation $TRP Shares Sold by Energy Income Partners LLC

Energy Income Partners LLC trimmed its holdings in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 28.9% during the second quarter, Holdings Channel reports. The institutional investor owned 628,663 shares of the pipeline company’s stock after selling 255,607 shares during the period. Energy Income Partners LLC’s holdings in TC Energy were worth $41,674,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Generali Asset Management SPA SGR grew its holdings in TC Energy by 261.0% in the fourth quarter. Generali Asset Management SPA SGR now owns 74,906 shares of the pipeline company’s stock valued at $4,121,000 after purchasing an additional 54,154 shares during the period. BROOKFIELD Corp ON raised its stake in TC Energy by 8.9% during the first quarter. BROOKFIELD Corp ON now owns 1,735,576 shares of the pipeline company’s stock worth $108,647,000 after purchasing an additional 141,556 shares during the period. Vanguard Group Inc. raised its stake in TC Energy by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 47,801,695 shares of the pipeline company’s stock worth $2,632,200,000 after purchasing an additional 980,221 shares during the period. Miller Howard Investments Inc. NY boosted its holdings in shares of TC Energy by 14.0% in the 1st quarter. Miller Howard Investments Inc. NY now owns 1,294,518 shares of the pipeline company’s stock valued at $81,037,000 after purchasing an additional 158,686 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of TC Energy by 10.3% in the 1st quarter. Bank of America Corp DE now owns 3,909,668 shares of the pipeline company’s stock valued at $244,745,000 after purchasing an additional 364,575 shares during the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

TC Energy Price Performance

TRP opened at $64.06 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.64. TC Energy Corporation has a 52-week low of $49.27 and a 52-week high of $71.47. The company has a 50 day moving average of $67.35 and a two-hundred day moving average of $65.21. The company has a market cap of $66.74 billion, a P/E ratio of 26.58 and a beta of 0.66.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Thursday, July 30th. The pipeline company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.07. The business had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.76 billion. TC Energy had a net margin of 22.91% and a return on equity of 11.10%. During the same quarter last year, the firm posted $0.82 EPS. On average, analysts expect that TC Energy Corporation will post 2.75 earnings per share for the current year.

TC Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Tuesday, September 29th will be given a $0.8775 dividend. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $3.51 annualized dividend and a yield of 5.5%. TC Energy’s dividend payout ratio (DPR) is 102.49%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on TRP shares. Barclays restated an “overweight” rating on shares of TC Energy in a report on Thursday, July 16th. National Bank Financial upgraded TC Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, May 4th. Weiss Ratings reissued a “buy (b)” rating on shares of TC Energy in a research report on Friday, July 31st. TD Securities restated a “hold” rating on shares of TC Energy in a research note on Thursday, July 16th. Finally, BMO Capital Markets restated an “outperform” rating and set a $99.00 price target on shares of TC Energy in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.00.

TC Energy Profile

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.