Federated Hermes Inc. Buys 28,572 Shares of TC Energy Corporation $TRP

Federated Hermes Inc. raised its stake in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 1.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,860,729 shares of the pipeline company’s stock after purchasing an additional 28,572 shares during the period. Federated Hermes Inc.’s holdings in TC Energy were worth $139,575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. FORA Capital LLC purchased a new stake in TC Energy during the first quarter valued at approximately $776,000. Fractal Investments LLC grew its holdings in TC Energy by 34.4% in the second quarter. Fractal Investments LLC now owns 649,000 shares of the pipeline company’s stock worth $31,665,000 after purchasing an additional 166,000 shares during the last quarter. Miller Howard Investments Inc. NY increased its position in shares of TC Energy by 93.8% during the second quarter. Miller Howard Investments Inc. NY now owns 1,153,849 shares of the pipeline company’s stock worth $56,296,000 after purchasing an additional 558,498 shares in the last quarter. Norges Bank purchased a new stake in shares of TC Energy during the 2nd quarter valued at $493,434,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of TC Energy during the 1st quarter valued at $273,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on TRP shares. TD Securities restated a “buy” rating on shares of TC Energy in a research note on Friday, October 17th. Scotiabank restated an “outperform” rating on shares of TC Energy in a research note on Monday, October 20th. Citigroup restated a “neutral” rating on shares of TC Energy in a report on Thursday, November 20th. BMO Capital Markets upgraded shares of TC Energy from a “market perform” rating to an “outperform” rating in a research note on Friday, November 7th. Finally, Wall Street Zen downgraded shares of TC Energy from a “hold” rating to a “sell” rating in a research report on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $84.00.

TC Energy Trading Down 0.3%

Shares of NYSE:TRP opened at $54.63 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.63 and a debt-to-equity ratio of 1.60. TC Energy Corporation has a 52-week low of $43.51 and a 52-week high of $55.37. The stock has a market cap of $56.86 billion, a price-to-earnings ratio of 23.55 and a beta of 0.70. The business has a 50-day moving average price of $52.88 and a 200-day moving average price of $50.92.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Thursday, November 6th. The pipeline company reported $0.56 earnings per share for the quarter, hitting the consensus estimate of $0.56. TC Energy had a net margin of 23.86% and a return on equity of 10.61%. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $2.63 billion. During the same quarter in the prior year, the company earned $1.03 EPS. Equities analysts predict that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be paid a $0.85 dividend. The ex-dividend date is Wednesday, December 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.61. This represents a $3.40 dividend on an annualized basis and a dividend yield of 6.2%. TC Energy’s dividend payout ratio (DPR) is currently 104.74%.

About TC Energy

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.