HighTower Advisors LLC Has $18.05 Million Holdings in TC Energy Corporation (NYSE:TRP)

HighTower Advisors LLC lowered its position in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 4.7% during the first quarter, Holdings Channel reports. The fund owned 382,263 shares of the pipeline company’s stock after selling 18,957 shares during the quarter. HighTower Advisors LLC’s holdings in TC Energy were worth $18,047,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. AGF Management Ltd. raised its holdings in shares of TC Energy by 24.1% during the first quarter. AGF Management Ltd. now owns 1,063,256 shares of the pipeline company’s stock valued at $50,196,000 after acquiring an additional 206,221 shares during the period. Public Sector Pension Investment Board raised its holdings in shares of TC Energy by 0.7% during the first quarter. Public Sector Pension Investment Board now owns 100,272 shares of the pipeline company’s stock valued at $4,735,000 after acquiring an additional 700 shares during the period. Eagle Global Advisors LLC raised its holdings in shares of TC Energy by 47.0% during the first quarter. Eagle Global Advisors LLC now owns 249,350 shares of the pipeline company’s stock valued at $11,772,000 after acquiring an additional 79,750 shares during the period. Nuveen LLC acquired a new stake in shares of TC Energy during the first quarter valued at approximately $73,370,000. Finally, Aigen Investment Management LP increased its stake in TC Energy by 209.4% in the 1st quarter. Aigen Investment Management LP now owns 15,917 shares of the pipeline company’s stock valued at $751,000 after buying an additional 10,772 shares during the period. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Stock Performance

TRP stock opened at $51.04 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.54. The company has a market capitalization of $53.08 billion, a price-to-earnings ratio of 17.42, a P/E/G ratio of 4.90 and a beta of 0.75. TC Energy Corporation has a 12 month low of $39.79 and a 12 month high of $51.99. The firm has a 50 day moving average of $48.40 and a two-hundred day moving average of $48.08.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Thursday, July 31st. The pipeline company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.56 by $0.03. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $2.56 billion. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. During the same period in the previous year, the firm posted $0.79 earnings per share. As a group, equities analysts anticipate that TC Energy Corporation will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 29th will be given a $0.6148 dividend. This is a positive change from TC Energy’s previous quarterly dividend of $0.61. This represents a $2.46 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Monday, September 29th. TC Energy’s payout ratio is presently 85.32%.

Analyst Ratings Changes

Several research firms have weighed in on TRP. Barclays reiterated an “overweight” rating on shares of TC Energy in a research note on Thursday. Cibc World Mkts upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 2nd. Finally, CIBC upgraded shares of TC Energy from a “neutral” rating to a “sector outperform” rating in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $62.00.

TC Energy 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.