Infrastructure Capital Advisors LLC Reduces Holdings in TC Energy Corporation $TRP

Infrastructure Capital Advisors LLC decreased its holdings in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 50.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,000 shares of the pipeline company’s stock after selling 25,000 shares during the quarter. Infrastructure Capital Advisors LLC’s holdings in TC Energy were worth $1,375,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of TC Energy by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 47,801,695 shares of the pipeline company’s stock worth $2,632,200,000 after buying an additional 980,221 shares during the last quarter. Capital Research Global Investors boosted its holdings in shares of TC Energy by 2.5% in the third quarter. Capital Research Global Investors now owns 41,977,582 shares of the pipeline company’s stock worth $2,282,469,000 after buying an additional 1,041,864 shares during the last quarter. FIL Ltd boosted its holdings in shares of TC Energy by 3.9% in the fourth quarter. FIL Ltd now owns 28,305,789 shares of the pipeline company’s stock worth $1,558,669,000 after buying an additional 1,052,166 shares during the last quarter. TD Asset Management Inc lifted its holdings in TC Energy by 6.3% during the fourth 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 in the last quarter. Finally, GQG Partners LLC lifted its holdings in TC Energy by 586.5% during the fourth quarter. GQG Partners LLC now owns 16,154,469 shares of the pipeline company’s stock valued at $890,711,000 after purchasing an additional 13,801,371 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Analyst Ratings Changes

TRP has been the topic of several analyst reports. Scotiabank reaffirmed an “outperform” rating on shares of TC Energy in a report on Monday, May 4th. TD Securities reaffirmed a “hold” rating on shares of TC Energy in a report on Monday, May 4th. Weiss Ratings downgraded shares of TC Energy from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 4th. Morgan Stanley downgraded shares of TC Energy from an “overweight” rating to an “equal weight” rating in a report on Wednesday, June 10th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of TC Energy in a report on Monday, May 4th. One 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 company. According to data from MarketBeat, TC Energy has a consensus rating of “Moderate Buy” and a consensus target price of $78.50.

TC Energy Stock Performance

TRP opened at $67.93 on Thursday. The stock has a market capitalization of $67.93 billion, a price-to-earnings ratio of 29.48 and a beta of 0.66. The company has a fifty day moving average of $66.02 and a 200 day moving average of $61.39. TC Energy Corporation has a fifty-two week low of $46.29 and a fifty-two week high of $71.47. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.57 and a current ratio of 0.65.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its 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 company had revenue of $2.04 billion during 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 period last year, the company posted $0.95 earnings per share. As a group, sell-side analysts forecast that TC Energy Corporation will post 2.75 earnings per share for the current fiscal year.

TC Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be paid a dividend of $0.8775 per share. This represents a $3.51 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend is Tuesday, June 30th. TC Energy’s dividend payout ratio (DPR) is presently 109.57%.

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.