New Hampshire Trust Boosts Position in TC Energy Co. (NYSE:TRP)

New Hampshire Trust increased its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 3.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,263 shares of the pipeline company’s stock after purchasing an additional 269 shares during the quarter. New Hampshire Trust’s holdings in TC Energy were worth $292,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in TRP. Citigroup Inc. lifted its stake in TC Energy by 10.0% during the third quarter. Citigroup Inc. now owns 101,925 shares of the pipeline company’s stock worth $3,521,000 after purchasing an additional 9,280 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its stake in TC Energy by 1.1% in the third quarter. DekaBank Deutsche Girozentrale now owns 131,438 shares of the pipeline company’s stock valued at $4,593,000 after buying an additional 1,450 shares during the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in TC Energy in the third quarter valued at approximately $2,828,000. Envestnet Asset Management Inc. lifted its stake in TC Energy by 30.2% in the third quarter. Envestnet Asset Management Inc. now owns 1,737,051 shares of the pipeline company’s stock valued at $59,813,000 after buying an additional 403,071 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in TC Energy by 11.4% in the third quarter. Invesco Ltd. now owns 2,723,651 shares of the pipeline company’s stock valued at $93,721,000 after buying an additional 279,712 shares during the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on TRP. Jefferies Financial Group started coverage on TC Energy in a research note on Tuesday, February 27th. They issued a “hold” rating for the company. TheStreet upgraded TC Energy from a “c+” rating to a “b-” rating in a research note on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, TC Energy presently has a consensus rating of “Hold” and an average price target of $48.83.

TC Energy Stock Up 0.2 %

TC Energy stock opened at $38.18 on Friday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.85 and a current ratio of 0.94. The firm has a market capitalization of $38.18 billion, a price-to-earnings ratio of 19.68, a price-to-earnings-growth ratio of 3.18 and a beta of 0.79. TC Energy Co. has a fifty-two week low of $32.51 and a fifty-two week high of $41.03. The stock’s fifty day moving average is $37.73 and its two-hundred day moving average is $38.74.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Friday, May 3rd. The pipeline company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.09. TC Energy had a net margin of 17.23% and a return on equity of 17.94%. The business had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.12 billion. Analysts predict that TC Energy Co. will post 3 EPS for the current fiscal year.

TC Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.84 annualized dividend and a dividend yield of 7.44%. TC Energy’s payout ratio is currently 145.88%.

About TC Energy

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.