CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Sells 70,000 Shares of TC Energy Corporation $TRP

Key Points

• Cushing Asset Management LP dba NXG trimmed its TC Energy stake by 5.1% in Q4, selling 70,000 shares and now owns 1,295,500 shares (~$71.27M), making TRP its 9th largest holding.
• Dividend increase: TC Energy raised its quarterly dividend to $0.8775 (from $0.85), an annualized $3.51 and ~5.8% yield, though the dividend payout ratio is high at about 108.6%.
• Mixed signals from results and analysts: Q earnings beat EPS estimates ($0.70 vs. $0.65) but revenues missed, and analysts are split—consensus rating is "Hold" with an average price target of $72.50 while institutional ownership stands near 83%.

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT reduced its position in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 5.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,295,500 shares of the pipeline company's stock after selling 70,000 shares during the period. TC Energy makes up approximately 4.1% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's holdings, making the stock its 9th largest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned approximately 0.12% of TC Energy worth $71,265,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of TRP. AQR Capital Management LLC lifted its stake in shares of TC Energy by 54.0% in the 1st quarter. AQR Capital Management LLC now owns 11,099 shares of the pipeline company's stock valued at $538,000 after purchasing an additional 3,892 shares in the last quarter. Focus Partners Wealth lifted its stake in shares of TC Energy by 46.1% in the 1st quarter. Focus Partners Wealth now owns 12,446 shares of the pipeline company's stock valued at $588,000 after purchasing an additional 3,929 shares in the last quarter. Intech Investment Management LLC lifted its stake in shares of TC Energy by 200.7% in the 1st quarter. Intech Investment Management LLC now owns 26,878 shares of the pipeline company's stock valued at $1,269,000 after purchasing an additional 17,939 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of TC Energy by 50.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,706 shares of the pipeline company's stock valued at $181,000 after purchasing an additional 1,243 shares in the last quarter. Finally, Guggenheim Capital LLC lifted its stake in shares of TC Energy by 9.9% in the 2nd quarter. Guggenheim Capital LLC now owns 16,758 shares of the pipeline company's stock valued at $818,000 after purchasing an additional 1,511 shares in the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on TRP shares. National Bank Financial lowered TC Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 17th. The Goldman Sachs Group lifted their price objective on TC Energy from $48.00 to $53.00 and gave the company a "sell" rating in a research note on Wednesday, February 18th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of TC Energy in a research note on Monday, February 16th. TD Securities lowered TC Energy from a "buy" rating to a "hold" rating in a research note on Tuesday, February 17th. Finally, Royal Bank Of Canada boosted their price target on TC Energy from $84.00 to $92.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 17th. Seven equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, TC Energy currently has a consensus rating of "Hold" and an average price target of $72.50.

TC Energy Stock Performance

TC Energy stock opened at $60.61 on Friday. The stock's 50 day moving average price is $63.03 and its 200 day moving average price is $57.27. The firm has a market capitalization of $63.14 billion, a PE ratio of 26.08 and a beta of 0.69. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.56 and a current ratio of 0.63. TC Energy Corporation has a one year low of $46.29 and a one year high of $65.57.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.65 by $0.05. The firm had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.94 billion. TC Energy had a return on equity of 10.52% and a net margin of 23.04%.During the same period in the previous year, the company posted $1.05 EPS. As a group, sell-side analysts expect that TC Energy Corporation will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be given a dividend of $0.8775 per share. This is a boost from TC Energy's previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $3.51 annualized dividend and a yield of 5.8%. TC Energy's dividend payout ratio is presently 108.62%.

TC Energy Profile

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.

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