Eagle Global Advisors LLC Decreases Stock Holdings in TC Energy Corporation $TRP

Key Points

• Eagle Global Advisors LLC reduced its stake in TC Energy by 13.0%, selling 27,610 shares and now holding 184,660 shares valued at about $10.16 million.
• TC Energy raised its quarterly dividend to $0.8775 (annualized $3.51), implying a 5.8% yield with an ex-dividend date of March 31, though the payout ratio is high at 108.62%.
• Q4 results showed an EPS beat of $0.70 versus $0.65 estimate but revenue missed at $2.20 billion versus $2.94 billion, and analysts remain split (seven Buy, seven Hold) with an average target of $77 and RBC lifting its target to $92.

Eagle Global Advisors LLC decreased its holdings in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 13.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 184,660 shares of the pipeline company's stock after selling 27,610 shares during the period. Eagle Global Advisors LLC's holdings in TC Energy were worth $10,158,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Trust Co. of Vermont purchased a new position in shares of TC Energy during the 4th quarter valued at approximately $28,000. Westside Investment Management Inc. lifted its position in shares of TC Energy by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 594 shares of the pipeline company's stock valued at $32,000 after buying an additional 297 shares in the last quarter. SWAN Capital LLC purchased a new position in shares of TC Energy during the 3rd quarter valued at approximately $40,000. Smartleaf Asset Management LLC lifted its position in shares of TC Energy by 237.4% during the 3rd quarter. Smartleaf Asset Management LLC now owns 803 shares of the pipeline company's stock valued at $43,000 after buying an additional 565 shares in the last quarter. Finally, Larson Financial Group LLC lifted its holdings in TC Energy by 65.3% in the 3rd quarter. Larson Financial Group LLC now owns 805 shares of the pipeline company's stock valued at $44,000 after purchasing an additional 318 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on TRP shares. Wall Street Zen upgraded TC Energy from a "sell" rating to a "hold" rating in a report on Saturday, February 14th. Wells Fargo & Company restated an "overweight" rating on shares of TC Energy in a report on Monday, February 16th. TD Securities lowered TC Energy from a "buy" rating to a "hold" rating in a report on Tuesday, February 17th. Scotiabank restated an "outperform" rating on shares of TC Energy in a report on Tuesday, February 17th. Finally, Royal Bank Of Canada raised their price objective on TC Energy from $84.00 to $92.00 and gave the company an "outperform" rating in a report on Tuesday, February 17th. Seven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, TC Energy presently has an average rating of "Moderate Buy" and an average target price of $77.00.

TC Energy Stock Down 1.1%

Shares of NYSE:TRP opened at $60.14 on Wednesday. The business has a 50-day moving average price of $63.05 and a 200 day moving average price of $57.37. The company has a current ratio of 0.63, a quick ratio of 0.56 and a debt-to-equity ratio of 1.66. The company has a market capitalization of $62.65 billion, a price-to-earnings ratio of 25.88 and a beta of 0.69. TC Energy Corporation has a 12-month low of $46.29 and a 12-month high of $65.57.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its quarterly earnings data on Friday, February 13th. The pipeline company reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.65 by $0.05. The firm had revenue of $2.20 billion during the quarter, compared to the consensus estimate 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 last year, the company earned $1.05 EPS. Sell-side analysts expect that TC Energy Corporation will post 2.79 EPS for the current year.

TC Energy Increases Dividend

The firm also recently disclosed 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 represents a $3.51 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date of this dividend is Tuesday, March 31st. This is a positive change from TC Energy's previous quarterly dividend of $0.85. TC Energy's dividend payout ratio is 108.62%.

About TC Energy

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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