Heronetta Management L.P. Sells 125,500 Shares of TC Energy Corporation $TRP

Heronetta Management L.P. lowered its position in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 91.4% in the first quarter, HoldingsChannel.com reports. The fund owned 11,816 shares of the pipeline company’s stock after selling 125,500 shares during the quarter. TC Energy accounts for approximately 0.7% of Heronetta Management L.P.’s portfolio, making the stock its 13th biggest holding. Heronetta Management L.P.’s holdings in TC Energy were worth $740,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. GQG Partners LLC grew its stake in TC Energy by 586.5% in the 4th quarter. GQG Partners LLC now owns 16,154,469 shares of the pipeline company’s stock valued at $890,711,000 after buying an additional 13,801,371 shares during the last quarter. Norges Bank acquired a new position in shares of TC Energy during the 4th quarter worth $583,732,000. Deutsche Bank AG raised its stake in TC Energy by 63.2% during the fourth quarter. Deutsche Bank AG now owns 15,384,255 shares of the pipeline company’s stock worth $846,288,000 after acquiring an additional 5,956,263 shares in the last quarter. BROOKFIELD Corp ON acquired a new stake in shares of TC Energy in the 2nd quarter valued at approximately $78,443,000. Finally, TD Asset Management Inc grew its holdings in shares of TC Energy by 6.3% during the 4th quarter. TD Asset Management Inc now owns 20,868,772 shares of the pipeline company’s stock valued at $1,150,656,000 after purchasing an additional 1,244,525 shares during the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on the company. National Bank Financial upgraded TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 4th. BMO Capital Markets reissued an “outperform” rating on shares of TC Energy in a report on Monday, May 4th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of TC Energy in a research note on Tuesday, May 26th. Barclays reiterated an “overweight” rating on shares of TC Energy in a research report on Monday, May 4th. Finally, Royal Bank Of Canada upped their price target on shares of TC Energy from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $78.50.

TC Energy Stock Down 1.0%

Shares of TRP traded down $0.69 during trading hours on Friday, hitting $67.27. The stock had a trading volume of 3,079,252 shares, compared to its average volume of 2,495,869. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.65 and a quick ratio of 0.57. The firm has a 50 day simple moving average of $68.04 and a 200-day simple moving average of $62.98. The firm has a market capitalization of $70.09 billion, a P/E ratio of 29.20 and a beta of 0.66. TC Energy Corporation has a 1-year low of $46.61 and a 1-year high of $71.47.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Friday, May 1st. The pipeline company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.02. The business had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.20 billion. TC Energy had a net margin of 22.22% and a return on equity of 10.74%. During the same quarter last year, the firm earned $0.95 EPS. Sell-side analysts predict that TC Energy Corporation will post 2.72 EPS for the current fiscal year.

TC Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.8775 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.51 annualized dividend and a dividend yield of 5.2%. TC Energy’s dividend payout ratio (DPR) is currently 107.39%.

TC Energy Company Profile

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.