TC Energy Co. (NYSE:TRP) Holdings Trimmed by Federated Hermes Inc.

Federated Hermes Inc. trimmed its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 6.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,291,164 shares of the pipeline company’s stock after selling 220,121 shares during the period. Federated Hermes Inc. owned 0.32% of TC Energy 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. Allspring Global Investments Holdings LLC grew its position in TC Energy by 29,994.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 309,376 shares of the pipeline company’s stock worth $12,094,000 after purchasing an additional 308,348 shares in the last quarter. Addenda Capital Inc. boosted its stake in shares of TC Energy by 2.5% during the 4th quarter. Addenda Capital Inc. now owns 1,089,146 shares of the pipeline company’s stock valued at $42,575,000 after buying an additional 26,711 shares during the period. Morgan Stanley boosted its stake in shares of TC Energy by 42.5% during the 3rd quarter. Morgan Stanley now owns 6,821,231 shares of the pipeline company’s stock valued at $234,719,000 after buying an additional 2,034,846 shares during the period. Mondrian Investment Partners LTD boosted its stake in shares of TC Energy by 9.3% during the 3rd quarter. Mondrian Investment Partners LTD now owns 7,231,694 shares of the pipeline company’s stock valued at $248,843,000 after buying an additional 618,040 shares during the period. Finally, Van ECK Associates Corp boosted its stake in shares of TC Energy by 6.5% during the 3rd quarter. Van ECK Associates Corp now owns 296,979 shares of the pipeline company’s stock valued at $10,218,000 after buying an additional 18,213 shares during the period. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on TRP shares. The Goldman Sachs Group lifted their target price on shares of TC Energy from $29.00 to $32.00 and gave the company a “sell” rating in a research note on Friday, January 26th. Barclays lifted their target price on shares of TC Energy from $53.00 to $55.00 and gave the company an “equal weight” rating in a research note on Monday, January 29th. Jefferies Financial Group initiated coverage on shares of TC Energy in a research note on Tuesday, February 27th. They set a “hold” rating for the company. Stifel Nicolaus initiated coverage on shares of TC Energy in a research note on Thursday, January 18th. They issued a “buy” rating for the company. Finally, TheStreet raised shares of TC Energy from a “c+” rating to a “b-” rating in a research note on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $48.83.

TC Energy Stock Performance

TC Energy stock traded up $0.29 on Thursday, reaching $35.39. 782,947 shares of the stock were exchanged, compared to its average volume of 2,915,602. The stock has a market cap of $35.39 billion, a PE ratio of 17.29, a PEG ratio of 2.94 and a beta of 0.75. 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 Co. has a twelve month low of $32.51 and a twelve month high of $42.49. The firm has a fifty day moving average price of $39.14 and a two-hundred day moving average price of $37.96.

TC Energy (NYSE:TRP) (TSE:TRP) last released its 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. The firm had revenue of $3.11 billion during the quarter, compared to analyst estimates of $2.93 billion. TC Energy had a net margin of 18.25% and a return on equity of 18.60%. Sell-side analysts anticipate that TC Energy Co. will post 2.99 EPS for the current year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be given a dividend of $0.714 per share. This is a positive change from TC Energy’s previous quarterly dividend of $0.67. The ex-dividend date is Wednesday, March 27th. This represents a $2.86 dividend on an annualized basis and a yield of 8.07%. TC Energy’s payout ratio is currently 139.41%.

TC Energy Company 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.