Federated Hermes Inc. Sells 28,720 Shares of TC Energy Corporation $TRP

Federated Hermes Inc. reduced its stake in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 1.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 2,832,009 shares of the pipeline company’s stock after selling 28,720 shares during the quarter. Federated Hermes Inc.’s holdings in TC Energy were worth $154,090,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in TC Energy during the 2nd quarter worth about $493,434,000. Public Sector Pension Investment Board boosted its position in shares of TC Energy by 2,573.3% during the second quarter. Public Sector Pension Investment Board now owns 2,680,572 shares of the pipeline company’s stock worth $130,600,000 after buying an additional 2,580,300 shares during the period. Acadian Asset Management LLC acquired a new position in shares of TC Energy during the second quarter worth about $104,628,000. Picton Mahoney Asset Management bought a new position in shares of TC Energy during the second quarter worth about $100,398,000. Finally, Nicola Wealth Management LTD. raised its position in TC Energy by 793.7% in the 3rd quarter. Nicola Wealth Management LTD. now owns 2,302,996 shares of the pipeline company’s stock valued at $125,229,000 after buying an additional 2,045,300 shares during the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

TC Energy Stock Performance

Shares of TRP stock opened at $57.66 on Wednesday. The company has a fifty day moving average price of $54.65 and a two-hundred day moving average price of $52.46. TC Energy Corporation has a one year low of $43.51 and a one year high of $57.72. The stock has a market cap of $60.01 billion, a P/E ratio of 24.85 and a beta of 0.72. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.63 and a quick ratio of 0.56.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Thursday, November 6th. The pipeline company reported $0.56 earnings per share for the quarter, hitting the consensus estimate of $0.56. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $2.63 billion. TC Energy had a net margin of 23.86% and a return on equity of 10.61%. During the same period in the previous year, the business earned $1.03 EPS. As a group, equities analysts predict that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be paid a $0.85 dividend. This is a positive change from TC Energy’s previous quarterly dividend of $0.61. This represents a $3.40 annualized dividend and a yield of 5.9%. The ex-dividend date is Wednesday, December 31st. TC Energy’s dividend payout ratio is currently 106.47%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on TRP shares. Wall Street Zen cut shares of TC Energy from a “hold” rating to a “sell” rating in a research note on Sunday, January 4th. BMO Capital Markets upgraded shares of TC Energy from a “market perform” rating to an “outperform” rating in a report on Friday, November 7th. Cibc World Mkts lowered shares of TC Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. Royal Bank Of Canada boosted their price target on shares of TC Energy from $74.00 to $84.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Finally, Citigroup restated a “neutral” rating on shares of TC Energy in a research note on Thursday, November 20th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, TC Energy has a consensus rating of “Moderate Buy” and a consensus price target of $84.00.

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.