Miller Howard Investments Inc. NY Has $61.66 Million Stock Position in TC Energy Corporation $TRP

Miller Howard Investments Inc. NY lessened its stake in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 1.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,133,268 shares of the pipeline company’s stock after selling 20,581 shares during the quarter. TC Energy accounts for about 1.9% of Miller Howard Investments Inc. NY’s holdings, making the stock its 17th biggest holding. Miller Howard Investments Inc. NY’s holdings in TC Energy were worth $61,661,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Hilltop National Bank bought a new stake in shares of TC Energy during the second quarter valued at approximately $32,000. Harbor Asset Planning Inc. bought a new position in TC Energy in the 2nd quarter valued at $43,000. Sagard Holdings Management Inc. acquired a new stake in shares of TC Energy in the 2nd quarter valued at $46,000. SouthState Corp raised its position in shares of TC Energy by 2,757.1% during the second quarter. SouthState Corp now owns 1,000 shares of the pipeline company’s stock worth $49,000 after acquiring an additional 965 shares during the last quarter. Finally, City Holding Co. acquired a new position in shares of TC Energy during the third quarter valued at $72,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Stock Up 0.7%

Shares of NYSE:TRP opened at $53.85 on Friday. The company has a 50 day moving average price of $54.10 and a two-hundred day moving average price of $51.82. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.56 and a current ratio of 0.63. The company has a market capitalization of $56.04 billion, a PE ratio of 23.21 and a beta of 0.72. TC Energy Corporation has a 52 week low of $43.51 and a 52 week high of $56.34.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Thursday, November 6th. The pipeline company reported $0.56 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.56. TC Energy had a net margin of 23.86% and a return on equity of 10.61%. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $2.63 billion. During the same quarter in the previous year, the business earned $1.03 EPS. Analysts forecast that TC Energy Corporation will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be paid a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.61. This represents a $3.40 dividend on an annualized basis and a yield of 6.3%. TC Energy’s payout ratio is presently 106.90%.

Analyst Upgrades and Downgrades

TRP has been the subject of a number of research reports. Royal Bank Of Canada lifted their price objective on TC Energy from $74.00 to $84.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Wall Street Zen lowered shares of TC Energy from a “hold” rating to a “sell” rating in a report on Sunday, January 4th. Cibc Captl Mkts raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. Cibc World Mkts downgraded TC Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. Finally, Barclays reaffirmed an “overweight” rating on shares of TC Energy in a research note on Tuesday, October 14th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $84.00.

About TC Energy

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.