Janus Henderson Group PLC Raises Position in TC Energy Co. (NYSE:TRP)

Janus Henderson Group PLC increased its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 4.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,037,808 shares of the pipeline company’s stock after purchasing an additional 43,731 shares during the quarter. Janus Henderson Group PLC owned approximately 0.10% of TC Energy worth $48,335,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. SBI Securities Co. Ltd. bought a new stake in shares of TC Energy in the fourth quarter valued at $31,000. Synergy Investment Management LLC bought a new stake in TC Energy in the 4th quarter valued at about $36,000. Millstone Evans Group LLC purchased a new stake in TC Energy during the fourth quarter valued at about $41,000. First Command Advisory Services Inc. bought a new position in TC Energy during the fourth quarter worth about $46,000. Finally, Rogco LP boosted its position in TC Energy by 100.0% during the fourth quarter. Rogco LP now owns 1,000 shares of the pipeline company’s stock worth $47,000 after purchasing an additional 500 shares during the period. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Wall Street Analysts Forecast Growth

TRP has been the topic of a number of recent research reports. CIBC upgraded shares of TC Energy from a “neutral” rating to a “sector outperform” rating in a research note on Friday, May 2nd. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. TD Securities initiated coverage on TC Energy in a report on Wednesday, January 15th. They issued a “buy” rating for the company. StockNews.com lowered TC Energy from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Finally, Royal Bank of Canada raised their target price on TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

TC Energy Price Performance

Shares of NYSE TRP opened at $48.59 on Wednesday. The stock’s 50-day simple moving average is $48.22 and its two-hundred day simple moving average is $47.41. TC Energy Co. has a twelve month low of $37.07 and a twelve month high of $51.34. The firm has a market capitalization of $50.52 billion, a P/E ratio of 15.00, a P/E/G ratio of 4.34 and a beta of 0.78. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Thursday, May 1st. The pipeline company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.04). The business had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $2.57 billion. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. During the same period in the previous year, the firm posted $1.02 EPS. As a group, equities analysts anticipate that TC Energy Co. will post 2.63 EPS for the current fiscal year.

TC Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a $0.6142 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.46 dividend on an annualized basis and a yield of 5.06%. TC Energy’s dividend payout ratio is presently 77.89%.

TC Energy Profile

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.