Federated Hermes Inc. Cuts Stock Position in TC Energy Co. (NYSE:TRP)

Federated Hermes Inc. decreased its holdings in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 6.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,291,164 shares of the pipeline company's stock after selling 220,121 shares during the period. Federated Hermes Inc. owned about 0.32% of TC Energy worth $128,652,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. ICA Group Wealth Management LLC increased its stake in TC Energy by 23.8% in the first quarter. ICA Group Wealth Management LLC now owns 1,450 shares of the pipeline company's stock worth $56,000 after purchasing an additional 279 shares during the period. EverSource Wealth Advisors LLC increased its stake in TC Energy by 14.2% in the third quarter. EverSource Wealth Advisors LLC now owns 2,315 shares of the pipeline company's stock worth $80,000 after purchasing an additional 288 shares during the period. Boothbay Fund Management LLC grew its position in shares of TC Energy by 1.0% during the 2nd quarter. Boothbay Fund Management LLC now owns 31,537 shares of the pipeline company's stock worth $1,274,000 after buying an additional 300 shares in the last quarter. AdvisorNet Financial Inc grew its position in shares of TC Energy by 25.8% during the 4th quarter. AdvisorNet Financial Inc now owns 1,483 shares of the pipeline company's stock worth $58,000 after buying an additional 304 shares in the last quarter. Finally, Wealth Alliance grew its position in shares of TC Energy by 1.4% during the 4th quarter. Wealth Alliance now owns 22,531 shares of the pipeline company's stock worth $881,000 after buying an additional 304 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company's stock.

TC Energy Stock Up 0.5 %

NYSE TRP traded up $0.18 during trading on Thursday, hitting $35.28. The company's stock had a trading volume of 4,443,905 shares, compared to its average volume of 2,965,560. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.96 and a quick ratio of 0.88. The company has a market cap of $35.28 billion, a PE ratio of 17.38, a P/E/G ratio of 2.94 and a beta of 0.75. The business's 50 day simple moving average is $39.10 and its 200-day simple moving average is $37.94. TC Energy Co. has a fifty-two week low of $32.51 and a fifty-two week high of $42.49.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its quarterly earnings results on Friday, February 16th. The pipeline company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.20. The business had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.93 billion. TC Energy had a return on equity of 18.60% and a net margin of 18.25%. On average, equities analysts anticipate that TC Energy Co. will post 2.99 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be issued a $0.714 dividend. This represents a $2.86 annualized dividend and a yield of 8.10%. The ex-dividend date is Wednesday, March 27th. This is an increase from TC Energy's previous quarterly dividend of $0.67. TC Energy's dividend payout ratio (DPR) is currently 139.41%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on TRP shares. Stifel Nicolaus started coverage on TC Energy in a research report on Thursday, January 18th. They set a "buy" rating on the stock. Jefferies Financial Group started coverage on TC Energy in a research report on Tuesday, February 27th. They set a "hold" rating on the stock. TheStreet raised TC Energy from a "c+" rating to a "b-" rating in a research report on Wednesday, March 20th. The Goldman Sachs Group increased their price target on TC Energy from $29.00 to $32.00 and gave the stock a "sell" rating in a research report on Friday, January 26th. Finally, Barclays increased their price target on TC Energy from $53.00 to $55.00 and gave the stock an "equal weight" rating in a research report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, TC Energy presently has an average rating of "Hold" and an average target price of $48.83.

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.