CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Has $80.17 Million Stock Holdings in TC Energy Corporation $TRP

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lessened its stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 1.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,280,600 shares of the pipeline company’s stock after selling 14,900 shares during the period. TC Energy accounts for about 4.0% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s portfolio, making the stock its 10th largest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in TC Energy were worth $80,166,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also bought and sold shares of TRP. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of TC Energy during the fourth quarter valued at about $25,000. Sterling Capital Management LLC bought a new stake in TC Energy in the 1st quarter valued at about $26,000. Trust Co. of Vermont acquired a new position in TC Energy during the 4th quarter worth approximately $28,000. McIlrath & Eck LLC bought a new stake in shares of TC Energy during the fourth quarter valued at approximately $32,000. Finally, SWAN Capital LLC acquired a new position in shares of TC Energy during the third quarter worth approximately $40,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TRP. TD Securities reissued a “hold” rating on shares of TC Energy in a research report on Monday, May 4th. Barclays reissued an “overweight” rating on shares of TC Energy in a research report on Monday, May 4th. Royal Bank Of Canada lifted their price target on TC Energy from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. National Bank Financial raised TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 4th. Finally, The Goldman Sachs Group upgraded TC Energy from a “sell” rating to a “neutral” rating and raised their target price for the company from $53.00 to $62.00 in a report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $78.50.

TC Energy Price Performance

TRP opened at $66.37 on Monday. The firm has a 50-day moving average price of $67.48 and a 200-day moving average price of $62.55. TC Energy Corporation has a twelve month low of $46.29 and a twelve month high of $71.47. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 1.67. The company has a market capitalization of $69.15 billion, a price-to-earnings ratio of 28.81 and a beta of 0.66.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Friday, May 1st. The pipeline company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.70 by $0.02. TC Energy had a net margin of 22.22% and a return on equity of 10.74%. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same period last year, the firm earned $0.95 EPS. Equities analysts expect that TC Energy Corporation will post 2.75 EPS for the current year.

TC Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be paid a dividend of $0.8775 per share. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date is Tuesday, June 30th. TC Energy’s payout ratio is presently 110.43%.

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.