TC Energy Corporation $TRP Stock Bought by Miller Howard Investments Inc. NY

Miller Howard Investments Inc. NY raised its stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 16.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,479,257 shares of the pipeline company’s stock after purchasing an additional 208,983 shares during the period. TC Energy accounts for about 2.3% of Miller Howard Investments Inc. NY’s portfolio, making the stock its 4th biggest position. Miller Howard Investments Inc. NY’s holdings in TC Energy were worth $85,471,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Canada Pension Plan Investment Board purchased a new stake in TC Energy during the 2nd quarter valued at $1,148,244,000. GQG Partners LLC bought a new stake in TC Energy in the second quarter worth $1,107,936,000. Deutsche Bank AG lifted its position in TC Energy by 1.3% in the second quarter. Deutsche Bank AG now owns 15,821,521 shares of the pipeline company’s stock worth $1,048,809,000 after buying an additional 196,543 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in TC Energy during the second quarter worth $977,976,000. Finally, TD Waterhouse Canada Inc. boosted its stake in TC Energy by 3.0% during the second quarter. TD Waterhouse Canada Inc. now owns 10,619,936 shares of the pipeline company’s stock worth $695,799,000 after buying an additional 312,027 shares during the period. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Barclays reiterated an “overweight” rating on shares of TC Energy in a research report on Thursday, July 16th. The Goldman Sachs Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating and set a $71.00 target price for the company in a report on Wednesday, September 30th. Jefferies Financial Group upgraded shares of TC Energy from a “hold” rating to a “buy” rating in a report on Tuesday, September 1st. Scotiabank reaffirmed an “outperform” rating on shares of TC Energy in a research note on Tuesday, July 21st. Finally, Royal Bank Of Canada reiterated a “moderate buy” rating and set a $106.00 price target on shares of TC Energy in a report on Friday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, TC Energy presently has an average rating of “Moderate Buy” and an average price target of $93.75.

TC Energy Trading Up 0.2%

Shares of NYSE TRP opened at $62.50 on Tuesday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.54 and a current ratio of 0.61. The business’s 50 day moving average price is $61.26 and its 200-day moving average price is $63.39. TC Energy Corporation has a fifty-two week low of $49.27 and a fifty-two week high of $71.47. The company has a market cap of $62.50 billion, a price-to-earnings ratio of 25.93 and a beta of 0.70.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Thursday, July 30th. The pipeline company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.07. TC Energy had a return on equity of 11.10% and a net margin of 22.91%. The firm had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.76 billion. During the same period last year, the company earned $0.82 EPS. On average, sell-side analysts expect that TC Energy Corporation will post 2.78 earnings per share for the current year.

TC Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Tuesday, September 29th will be given a C$0.88 dividend. This represents a $3.51 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend is Tuesday, September 29th. TC Energy’s dividend payout ratio is 104.98%.

About TC Energy

TC Energy Corporation (NYSE: TRP) is a North American energy infrastructure company that develops and operates natural gas pipelines, storage facilities, power-generation assets and related energy infrastructure. Its natural gas pipeline network connects major supply basins with utilities, power producers, industrial customers and local distribution companies.

The company’s operations are primarily located in Canada and the United States, with additional natural gas pipeline interests in Mexico.