Miller Howard Investments Inc. NY Boosts Stock Holdings in TC Energy Corporation $TRP

Miller Howard Investments Inc. NY lifted its position in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 14.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,294,518 shares of the pipeline company’s stock after buying an additional 158,686 shares during the quarter. TC Energy comprises about 2.2% of Miller Howard Investments Inc. NY’s holdings, making the stock its 8th largest position. Miller Howard Investments Inc. NY owned 0.12% of TC Energy worth $81,037,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of TRP. Annis Gardner Whiting Capital Advisors LLC bought a new stake in TC Energy during the fourth quarter valued at $25,000. Trust Co. of Vermont bought a new position in shares of TC Energy in the 4th quarter worth about $28,000. McIlrath & Eck LLC acquired a new position in shares of TC Energy in the 4th quarter valued at about $32,000. SWAN Capital LLC bought a new stake in shares of TC Energy during the 3rd quarter valued at about $40,000. Finally, Glen Eagle Advisors LLC bought a new stake in shares of TC Energy during the 4th quarter valued at about $44,000. Institutional investors own 83.13% of the company’s stock.

TC Energy Price Performance

TRP stock opened at $69.50 on Wednesday. The company has a market capitalization of $69.50 billion, a P/E ratio of 30.17 and a beta of 0.66. 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 Corporation has a 52-week low of $46.29 and a 52-week high of $71.47. The business has a 50-day simple moving average of $66.37 and a two-hundred day simple moving average of $61.80.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Friday, May 1st. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. The firm had revenue of $2.04 billion for the quarter, compared to the consensus estimate 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 in the previous year, the firm earned $0.95 EPS. Research analysts expect that TC Energy Corporation will post 2.75 EPS for the current fiscal year.

TC Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be given a $0.8775 dividend. This represents a $3.51 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend is Tuesday, June 30th. TC Energy’s dividend payout ratio is presently 109.57%.

Analyst Ratings Changes

TRP has been the subject of a number of research analyst reports. Morgan Stanley downgraded TC Energy from an “overweight” rating to an “equal weight” rating in a report on Wednesday, June 10th. Barclays restated an “overweight” rating on shares of TC Energy in a report on Monday, May 4th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of TC Energy in a research report on Tuesday, May 26th. Scotiabank reiterated an “outperform” rating on shares of TC Energy in a research note on Monday, May 4th. Finally, Weiss Ratings downgraded shares of TC Energy from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 4th. One research 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.50.

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.