TC Energy Corporation $TRP Stake Boosted by Miller Howard Investments Inc. NY

Miller Howard Investments Inc. NY increased its stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 14.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,294,518 shares of the pipeline company’s stock after buying an additional 158,686 shares during the period. TC Energy comprises about 2.2% of Miller Howard Investments Inc. NY’s holdings, making the stock its 8th biggest position. Miller Howard Investments Inc. NY’s holdings in TC Energy were worth $81,037,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in TRP. Annis Gardner Whiting Capital Advisors LLC purchased a new position in TC Energy in the fourth quarter valued at about $25,000. Trust Co. of Vermont bought a new position in shares of TC Energy during the 4th quarter valued at approximately $28,000. McIlrath & Eck LLC purchased a new stake in shares of TC Energy during the 4th quarter worth approximately $32,000. SWAN Capital LLC bought a new stake in shares of TC Energy in the 3rd quarter worth approximately $40,000. Finally, Glen Eagle Advisors LLC bought a new stake in shares of TC Energy in the 4th quarter worth approximately $44,000. Institutional investors own 83.13% of the company’s stock.

Analyst Upgrades and Downgrades

TRP has been the topic of several research analyst reports. National Bank Financial upgraded TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 4th. Royal Bank Of Canada raised their target price on TC Energy from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. BMO Capital Markets restated an “outperform” rating on shares of TC Energy in a research note on Monday, May 4th. Morgan Stanley cut TC Energy from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, June 10th. Finally, The Goldman Sachs Group upgraded TC Energy from a “sell” rating to a “neutral” rating and increased their price target for the stock from $53.00 to $62.00 in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.50.

TC Energy Stock Performance

NYSE TRP opened at $69.50 on Wednesday. The company’s 50 day moving average is $66.37 and its 200-day moving average is $61.80. TC Energy Corporation has a 12-month low of $46.29 and a 12-month high of $71.47. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 1.67. The firm has a market cap of $69.50 billion, a P/E ratio of 30.17 and a beta of 0.66.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Friday, May 1st. The pipeline company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.70 by $0.02. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.20 billion. TC Energy had a net margin of 22.22% and a return on equity of 10.74%. During the same period last year, the firm earned $0.95 EPS. Sell-side analysts predict that TC Energy Corporation will post 2.75 earnings per share for the current year.

TC Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.8775 per share. The ex-dividend date is Tuesday, June 30th. This represents a $3.51 annualized dividend and a dividend yield of 5.1%. TC Energy’s dividend payout ratio is currently 109.57%.

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.