Van Lanschot Kempen Investment Management N.V. Sells 8,454 Shares of TC Energy Corporation $TRP

Key Points

• Van Lanschot Kempen Investment Management N.V. reduced its stake in TC Energy Corporation by 5.0%, selling 8,454 shares and holding 160,321 shares valued at approximately $7.57 million.
• Several major institutional investors, including Goldman Sachs and Bank of Nova Scotia, significantly increased their holdings in TC Energy during the first quarter, indicating strong institutional interest in the company.
• TC Energy recently announced a quarterly dividend hike to $0.6148 per share, representing an annualized dividend of $2.46 and a yield of 4.8%, reflecting the company's commitment to returning value to shareholders.

Van Lanschot Kempen Investment Management N.V. lessened its holdings in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 5.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 160,321 shares of the pipeline company's stock after selling 8,454 shares during the period. Van Lanschot Kempen Investment Management N.V.'s holdings in TC Energy were worth $7,569,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lowe Wealth Advisors LLC bought a new stake in TC Energy during the first quarter worth approximately $30,000. TruNorth Capital Management LLC bought a new stake in TC Energy during the first quarter worth approximately $45,000. Golden State Wealth Management LLC raised its holdings in TC Energy by 222.2% during the first quarter. Golden State Wealth Management LLC now owns 1,076 shares of the pipeline company's stock worth $51,000 after purchasing an additional 742 shares in the last quarter. SBI Securities Co. Ltd. raised its holdings in TC Energy by 75.3% during the first quarter. SBI Securities Co. Ltd. now owns 1,166 shares of the pipeline company's stock worth $55,000 after purchasing an additional 501 shares in the last quarter. Finally, HM Payson & Co. bought a new stake in TC Energy during the first quarter worth approximately $60,000. Institutional investors own 83.13% of the company's stock.

Wall Street Analyst Weigh In

TRP has been the topic of several recent analyst reports. CIBC raised TC Energy from a "neutral" rating to a "sector outperform" rating in a report on Friday, May 2nd. Cibc World Mkts upgraded shares of TC Energy from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 2nd. US Capital Advisors lowered shares of TC Energy from a "moderate buy" rating to a "hold" rating in a research report on Thursday. Finally, Barclays restated an "overweight" rating on shares of TC Energy in a research report on Thursday, August 14th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $62.00.

TC Energy Stock Down 0.5%

Shares of TC Energy stock traded down $0.2450 on Monday, hitting $50.9950. 504,888 shares of the company traded hands, compared to its average volume of 2,316,707. The company has a 50-day moving average price of $48.56 and a 200 day moving average price of $48.30. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.54. TC Energy Corporation has a 12-month low of $40.76 and a 12-month high of $52.10. The company has a market cap of $53.03 billion, a PE ratio of 17.40, a PEG ratio of 4.91 and a beta of 0.75.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its quarterly earnings results on Thursday, July 31st. The pipeline company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.56 by $0.03. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. The business had revenue of $1.82 billion for the quarter, compared to analysts' expectations of $2.56 billion. During the same period in the previous year, the company posted $0.79 EPS. Sell-side analysts predict that TC Energy Corporation will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be issued a dividend of $0.6148 per share. The ex-dividend date is Monday, September 29th. This represents a $2.46 annualized dividend and a dividend yield of 4.8%. This is an increase from TC Energy's previous quarterly dividend of $0.61. TC Energy's dividend payout ratio is presently 85.32%.

TC Energy 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.