Federated Hermes Inc. Sells 863 Shares of TC Energy Co. (NYSE:TRP)

Federated Hermes Inc. cut its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 0.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,189,270 shares of the pipeline company’s stock after selling 863 shares during the quarter. Federated Hermes Inc.’s holdings in TC Energy were worth $148,397,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in TRP. Vanguard Group Inc. raised its position in TC Energy by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 43,687,141 shares of the pipeline company’s stock worth $2,035,952,000 after acquiring an additional 734,678 shares during the period. TD Asset Management Inc. increased its stake in shares of TC Energy by 2.1% during the 4th quarter. TD Asset Management Inc. now owns 16,437,150 shares of the pipeline company’s stock worth $765,627,000 after purchasing an additional 344,485 shares during the last quarter. Norges Bank purchased a new stake in shares of TC Energy during the 4th quarter worth approximately $428,759,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of TC Energy by 6.0% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,175,940 shares of the pipeline company’s stock worth $333,993,000 after purchasing an additional 405,965 shares during the period. Finally, CIBC Asset Management Inc lifted its stake in TC Energy by 8.4% in the fourth quarter. CIBC Asset Management Inc now owns 7,123,344 shares of the pipeline company’s stock valued at $331,863,000 after purchasing an additional 551,980 shares during the last quarter. 83.13% of the stock is currently owned by institutional investors.

TC Energy Stock Performance

NYSE TRP opened at $46.07 on Friday. The company’s 50 day simple moving average is $46.57 and its two-hundred day simple moving average is $46.99. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23. TC Energy Co. has a 1 year low of $34.95 and a 1 year high of $50.37. The stock has a market capitalization of $47.88 billion, a PE ratio of 14.22, a P/E/G ratio of 4.34 and a beta of 0.74.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.54. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.42 billion. During the same quarter last year, the business posted $1.35 earnings per share. Analysts predict that TC Energy Co. 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 Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.38%. The ex-dividend date is Monday, March 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s dividend payout ratio (DPR) is 72.53%.

Wall Street Analysts Forecast Growth

TRP has been the subject of a number of recent research reports. Citigroup started coverage on TC Energy in a research report on Friday. They issued a “neutral” rating for the company. Royal Bank of Canada upped their price target on shares of TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Veritas raised shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 18th. StockNews.com cut shares of TC Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Finally, TD Securities began coverage on TC Energy in a report on Wednesday, January 15th. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

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.