Federated Hermes Inc. Increases Stock Holdings in TC Energy Corporation $TRP

Federated Hermes Inc. boosted its stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 1.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,860,729 shares of the pipeline company’s stock after buying an additional 28,572 shares during the period. Federated Hermes Inc. owned approximately 0.28% of TC Energy worth $139,575,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Amundi increased its position in TC Energy by 2.8% during the second quarter. Amundi now owns 4,205,084 shares of the pipeline company’s stock valued at $201,760,000 after acquiring an additional 113,190 shares during the last quarter. Royal Fund Management LLC boosted its stake in shares of TC Energy by 10.8% during the 2nd quarter. Royal Fund Management LLC now owns 21,487 shares of the pipeline company’s stock worth $1,048,000 after purchasing an additional 2,097 shares during the period. Baird Financial Group Inc. bought a new position in TC Energy during the 2nd quarter valued at about $205,000. Guggenheim Capital LLC raised its position in TC Energy by 9.9% in the 2nd quarter. Guggenheim Capital LLC now owns 16,758 shares of the pipeline company’s stock worth $818,000 after purchasing an additional 1,511 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in TC Energy by 50.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,706 shares of the pipeline company’s stock worth $181,000 after purchasing an additional 1,243 shares during the period. 83.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TRP has been the subject of several recent analyst reports. Barclays restated an “overweight” rating on shares of TC Energy in a research report on Tuesday, October 14th. Citigroup restated a “neutral” rating on shares of TC Energy in a report on Thursday, November 20th. Cibc Captl Mkts upgraded TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Royal Bank Of Canada boosted their target price on shares of TC Energy from $74.00 to $84.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of TC Energy in a report on Monday, December 1st. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, TC Energy currently has a consensus rating of “Moderate Buy” and an average target price of $84.00.

TC Energy Price Performance

Shares of TRP stock opened at $54.63 on Friday. TC Energy Corporation has a twelve month low of $43.51 and a twelve month high of $55.37. The company has a current ratio of 0.63, a quick ratio of 0.56 and a debt-to-equity ratio of 1.60. The stock has a fifty day simple moving average of $52.88 and a two-hundred day simple moving average of $50.92. The stock has a market capitalization of $56.86 billion, a price-to-earnings ratio of 23.55 and a beta of 0.70.

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, meeting the consensus estimate of $0.56. TC Energy had a return on equity of 10.61% and a net margin of 23.86%.The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $2.63 billion. During the same period in the previous year, the company posted $1.03 earnings per share. On average, analysts predict that TC Energy Corporation will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 6.2%. The ex-dividend date of this dividend is Wednesday, December 31st. This is a boost from TC Energy’s previous quarterly dividend of $0.61. TC Energy’s dividend payout ratio is currently 104.74%.

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.