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

A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in TC Energy by 1.6% during the first quarter. Vanguard Group Inc. now owns 44,397,978 shares of the pipeline company's stock worth $2,096,739,000 after purchasing an additional 710,837 shares in the last quarter. TD Asset Management Inc raised its holdings in shares of TC Energy by 6.2% during the first quarter. TD Asset Management Inc now owns 17,455,740 shares of the pipeline company's stock valued at $824,243,000 after acquiring an additional 1,018,590 shares during the last quarter. Bank of Nova Scotia raised its holdings in shares of TC Energy by 80.3% during the first quarter. Bank of Nova Scotia now owns 16,983,443 shares of the pipeline company's stock valued at $802,164,000 after acquiring an additional 7,562,887 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of TC Energy by 2,565.1% during the first quarter. Goldman Sachs Group Inc. now owns 16,306,187 shares of the pipeline company's stock valued at $769,815,000 after acquiring an additional 15,694,336 shares during the last quarter. Finally, Mackenzie Financial Corp raised its holdings in shares of TC Energy by 7.7% during the first quarter. Mackenzie Financial Corp now owns 13,239,669 shares of the pipeline company's stock valued at $625,230,000 after acquiring an additional 945,708 shares during the last quarter. Hedge funds and other institutional investors own 83.13% of the company's stock.

Wall Street Analyst Weigh In

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

TC Energy Trading Down 0.7%

Shares of NYSE:TRP traded down $0.3660 during midday trading on Friday, reaching $51.1540. 1,307,596 shares of the company's stock were exchanged, compared to its average volume of 1,462,525. The firm's 50 day simple moving average is $48.56 and its two-hundred day simple moving average is $48.28. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.61 and a quick ratio of 0.54. The stock has a market cap of $53.20 billion, a price-to-earnings ratio of 17.46, a P/E/G ratio of 4.93 and a beta of 0.75. TC Energy Corporation has a fifty-two week low of $40.76 and a fifty-two week high of $52.10.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its quarterly earnings data on Thursday, July 31st. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.56 by $0.03. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $2.56 billion. TC Energy had a return on equity of 11.22% and a net margin of 28.98%.During the same period last year, the company earned $0.79 EPS. As a group, sell-side analysts forecast that TC Energy Corporation will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

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

About TC Energy

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.