USS Investment Management Ltd Raises Holdings in TC Energy Co. (NYSE:TRP)

USS Investment Management Ltd boosted its stake in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 16.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 187,438 shares of the pipeline company's stock after purchasing an additional 26,768 shares during the quarter. USS Investment Management Ltd's holdings in TC Energy were worth $8,716,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in TRP. SBI Securities Co. Ltd. purchased a new position in TC Energy during the fourth quarter valued at approximately $31,000. Synergy Investment Management LLC bought a new position in TC Energy in the 4th quarter valued at $36,000. Millstone Evans Group LLC purchased a new position in shares of TC Energy during the 4th quarter valued at $41,000. First Command Advisory Services Inc. purchased a new position in shares of TC Energy during the 4th quarter valued at $46,000. Finally, Rogco LP increased its holdings in shares of TC Energy by 100.0% in the fourth quarter. Rogco LP now owns 1,000 shares of the pipeline company's stock worth $47,000 after purchasing an additional 500 shares during the period. Hedge funds and other institutional investors own 83.13% of the company's stock.

TC Energy Price Performance

Shares of TRP traded up $0.05 during midday trading on Tuesday, reaching $50.50. The stock had a trading volume of 333,193 shares, compared to its average volume of 2,501,616. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56. The company has a market capitalization of $52.50 billion, a price-to-earnings ratio of 15.59, a price-to-earnings-growth ratio of 4.34 and a beta of 0.78. The company's 50-day moving average is $48.74 and its 200 day moving average is $47.57. TC Energy Co. has a 12-month low of $37.07 and a 12-month high of $51.34.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its earnings results on Thursday, May 1st. The pipeline company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.04). TC Energy had a return on equity of 12.12% and a net margin of 29.40%. The firm had revenue of $1.78 billion during the quarter, compared to analysts' expectations of $2.57 billion. During the same period in the prior year, the company earned $1.02 EPS. On average, equities analysts predict that TC Energy Co. will post 2.63 EPS for the current fiscal year.

TC Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a dividend of $0.6142 per share. This represents a $2.46 annualized dividend and a dividend yield of 4.87%. The ex-dividend date is Monday, June 30th. TC Energy's dividend payout ratio is currently 77.89%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on TRP shares. CIBC raised TC Energy from a "neutral" rating to a "sector outperform" rating in a research note on Friday, May 2nd. Veritas raised TC Energy from a "strong sell" rating to a "strong-buy" rating in a report on Tuesday, February 18th. Cibc World Mkts upgraded TC Energy from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 2nd. Wall Street Zen cut shares of TC Energy from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Finally, US Capital Advisors raised shares of TC Energy from a "hold" rating to a "moderate buy" rating in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $62.00.

TC Energy Company 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.