HighTower Advisors LLC Has $19.53 Million Position in TC Energy Corporation $TRP

HighTower Advisors LLC lowered its holdings in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 4.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 359,010 shares of the pipeline company’s stock after selling 16,710 shares during the period. HighTower Advisors LLC’s holdings in TC Energy were worth $19,534,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Campbell & CO Investment Adviser LLC purchased a new stake in TC Energy in the 3rd quarter worth about $1,391,000. Norges Bank purchased a new position in TC Energy during the 2nd quarter valued at about $493,434,000. Advisors Asset Management Inc. increased its holdings in shares of TC Energy by 38.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 88,140 shares of the pipeline company’s stock valued at $4,796,000 after purchasing an additional 24,617 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its position in shares of TC Energy by 9.2% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,365,500 shares of the pipeline company’s stock worth $74,297,000 after purchasing an additional 115,000 shares in the last quarter. Finally, Ausbil Investment Management Ltd boosted its holdings in shares of TC Energy by 33.2% during the third quarter. Ausbil Investment Management Ltd now owns 100,519 shares of the pipeline company’s stock worth $5,415,000 after purchasing an additional 25,026 shares during the period. Institutional investors and hedge funds own 83.13% of the company’s stock.

Analyst Ratings Changes

TRP has been the topic of several research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of TC Energy in a research note on Monday, December 29th. Scotiabank restated an “outperform” rating on shares of TC Energy in a report on Tuesday. Canadian Imperial Bank of Commerce lowered TC Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Raymond James Financial raised TC Energy to a “hold” rating in a research report on Tuesday. Finally, Morgan Stanley restated an “overweight” rating on shares of TC Energy in a research note on Wednesday, January 28th. Seven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $72.50.

TC Energy Trading Up 1.3%

Shares of NYSE:TRP opened at $62.51 on Friday. The company has a current ratio of 0.63, a quick ratio of 0.56 and a debt-to-equity ratio of 1.66. The stock has a market capitalization of $65.09 billion, a PE ratio of 26.90 and a beta of 0.73. TC Energy Corporation has a 1 year low of $43.59 and a 1 year high of $63.94. The firm has a fifty day moving average price of $56.81 and a 200 day moving average price of $53.90.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. The company had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.94 billion. TC Energy had a return on equity of 10.52% and a net margin of 23.04%.During the same quarter in the previous year, the firm earned $1.05 earnings per share. Analysts expect that TC Energy Corporation will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be issued a $0.8775 dividend. This is an increase from TC Energy’s previous quarterly dividend of $0.85. The ex-dividend date is Tuesday, March 31st. This represents a $3.51 annualized dividend and a yield of 5.6%. TC Energy’s dividend payout ratio is presently 106.90%.

TC Energy 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.