Federated Hermes Inc. Sells 28,720 Shares of TC Energy Corporation $TRP

Federated Hermes Inc. lowered its stake in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 1.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,832,009 shares of the pipeline company’s stock after selling 28,720 shares during the period. Federated Hermes Inc. owned 0.27% of TC Energy worth $154,090,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Hilltop National Bank acquired a new stake in shares of TC Energy in the 2nd quarter valued at $32,000. Harbor Asset Planning Inc. bought a new position in TC Energy in the second quarter valued at about $43,000. Sagard Holdings Management Inc. bought a new position in TC Energy in the second quarter valued at about $46,000. SouthState Corp increased its position in TC Energy by 2,757.1% in the second quarter. SouthState Corp now owns 1,000 shares of the pipeline company’s stock worth $49,000 after purchasing an additional 965 shares during the period. Finally, City Holding Co. acquired a new stake in TC Energy in the third quarter worth about $72,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Trading Up 2.4%

TRP opened at $57.66 on Wednesday. The firm’s fifty day moving average is $54.65 and its two-hundred day moving average is $52.46. The firm has a market cap of $60.01 billion, a PE ratio of 24.85 and a beta of 0.72. TC Energy Corporation has a twelve month low of $43.51 and a twelve month high of $57.72. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.56 and a current ratio of 0.63.

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. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $2.63 billion. TC Energy had a net margin of 23.86% and a return on equity of 10.61%. During the same quarter in the previous year, the business earned $1.03 EPS. Equities research analysts anticipate that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be given a $0.85 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $3.40 annualized dividend and a dividend yield of 5.9%. This is a boost from TC Energy’s previous quarterly dividend of $0.61. TC Energy’s payout ratio is presently 106.47%.

Wall Street Analyst Weigh In

TRP has been the topic of several recent research reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of TC Energy in a research note on Monday, December 29th. Cibc World Mkts cut shares of TC Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. BMO Capital Markets raised shares of TC Energy from a “market perform” rating to an “outperform” rating in a report on Friday, November 7th. Wall Street Zen cut shares of TC Energy from a “hold” rating to a “sell” rating in a research report on Sunday, January 4th. Finally, Citigroup restated a “neutral” rating on shares of TC Energy in a research report on Thursday, November 20th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, TC Energy currently has an average 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.