Miller Howard Investments Inc. NY Has $61.66 Million Stock Position in TC Energy Corporation $TRP

Miller Howard Investments Inc. NY cut its holdings in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 1.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,133,268 shares of the pipeline company’s stock after selling 20,581 shares during the quarter. TC Energy comprises 1.9% of Miller Howard Investments Inc. NY’s investment portfolio, making the stock its 17th largest holding. Miller Howard Investments Inc. NY owned approximately 0.11% of TC Energy worth $61,661,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in TC Energy during the 2nd quarter valued at $493,434,000. Public Sector Pension Investment Board lifted its stake in shares of TC Energy by 2,573.3% in the second quarter. Public Sector Pension Investment Board now owns 2,680,572 shares of the pipeline company’s stock valued at $130,600,000 after buying an additional 2,580,300 shares during the period. Acadian Asset Management LLC bought a new stake in shares of TC Energy in the second quarter valued at about $104,628,000. Picton Mahoney Asset Management bought a new position in TC Energy during the second quarter valued at about $100,398,000. Finally, OMERS ADMINISTRATION Corp acquired a new position in TC Energy in the 2nd quarter valued at approximately $97,442,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Stock Up 0.7%

Shares of NYSE TRP opened at $53.85 on Friday. TC Energy Corporation has a 52-week low of $43.51 and a 52-week high of $56.34. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.56 and a current ratio of 0.63. The business has a fifty day moving average of $54.10 and a two-hundred day moving average of $51.82. The stock has a market cap of $56.04 billion, a PE ratio of 23.21 and a beta of 0.72.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Thursday, November 6th. The pipeline company reported $0.56 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.56. The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $2.63 billion. TC Energy had a net margin of 23.86% and a return on equity of 10.61%. During the same period last year, the firm posted $1.03 EPS. As a group, equities research analysts expect that TC Energy Corporation will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $3.40 dividend on an annualized basis and a yield of 6.3%. This is a positive change from TC Energy’s previous quarterly dividend of $0.61. TC Energy’s payout ratio is 106.90%.

Analyst Ratings Changes

A number of analysts have recently issued reports on TRP shares. Cibc World Mkts cut TC Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. Weiss Ratings reiterated a “buy (b-)” rating on shares of TC Energy in a research note on Monday, December 29th. Royal Bank Of Canada boosted their price target on shares of TC Energy from $74.00 to $84.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Wall Street Zen downgraded shares of TC Energy from a “hold” rating to a “sell” rating in a report on Sunday, January 4th. Finally, Scotiabank reissued an “outperform” rating on shares of TC Energy in a research note on Monday, October 20th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, TC Energy currently has an average rating of “Moderate Buy” and a consensus target price of $84.00.

About TC Energy

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.