Federated Hermes Inc. Sells 863 Shares of TC Energy Co. (NYSE:TRP)

Federated Hermes Inc. cut its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 0.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,189,270 shares of the pipeline company’s stock after selling 863 shares during the period. Federated Hermes Inc. owned about 0.31% of TC Energy worth $148,397,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of TRP. SBI Securities Co. Ltd. bought a new stake in shares of TC Energy during the 4th quarter worth $31,000. Versant Capital Management Inc bought a new position in shares of TC Energy in the fourth quarter worth about $33,000. Synergy Investment Management LLC acquired a new stake in shares of TC Energy in the 4th quarter valued at approximately $36,000. Point72 DIFC Ltd bought a new stake in shares of TC Energy during the 3rd quarter valued at approximately $39,000. Finally, Millstone Evans Group LLC acquired a new position in TC Energy during the 4th quarter worth approximately $41,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Citigroup assumed coverage on shares of TC Energy in a report on Friday. They set a “neutral” rating for the company. StockNews.com cut TC Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Veritas raised TC Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. TD Securities assumed coverage on TC Energy in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. Finally, Royal Bank of Canada lifted their target price on shares of TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $62.00.

TC Energy Stock Performance

Shares of TC Energy stock opened at $46.07 on Friday. TC Energy Co. has a 52 week low of $34.95 and a 52 week high of $50.37. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56. The business has a 50 day moving average price of $46.57 and a 200-day moving average price of $46.99. The company has a market cap of $47.88 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 4.34 and a beta of 0.74.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.54. The business had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.42 billion. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. During the same period in the prior year, the firm posted $1.35 EPS. Equities analysts anticipate that TC Energy Co. will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.85 per share. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.38%. The ex-dividend date of this dividend is Monday, March 31st. TC Energy’s dividend payout ratio (DPR) is presently 72.53%.

TC Energy Company 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.