TC Energy Co. (NYSE:TRP) is Ausbil Investment Management Ltd’s 3rd Largest Position

Ausbil Investment Management Ltd decreased its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 41.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 169,681 shares of the pipeline company’s stock after selling 118,540 shares during the period. TC Energy comprises about 4.9% of Ausbil Investment Management Ltd’s investment portfolio, making the stock its 3rd biggest position. Ausbil Investment Management Ltd’s holdings in TC Energy were worth $8,058,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. lifted its stake in TC Energy by 156.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company’s stock worth $321,778,000 after purchasing an additional 4,126,801 shares during the last quarter. Geode Capital Management LLC boosted its stake in TC Energy by 8.3% in the third quarter. Geode Capital Management LLC now owns 4,712,660 shares of the pipeline company’s stock worth $225,890,000 after buying an additional 360,548 shares in the last quarter. Merewether Investment Management LP grew its position in TC Energy by 37.9% during the third quarter. Merewether Investment Management LP now owns 4,097,600 shares of the pipeline company’s stock valued at $194,776,000 after acquiring an additional 1,127,000 shares during the last quarter. Kayne Anderson Capital Advisors LP raised its stake in shares of TC Energy by 29.2% during the third quarter. Kayne Anderson Capital Advisors LP now owns 3,198,140 shares of the pipeline company’s stock worth $152,072,000 after acquiring an additional 722,619 shares in the last quarter. Finally, Swiss National Bank boosted its stake in shares of TC Energy by 0.8% in the 3rd quarter. Swiss National Bank now owns 3,137,901 shares of the pipeline company’s stock valued at $149,401,000 after purchasing an additional 24,800 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Trading Down 0.4 %

Shares of TRP opened at $45.07 on Friday. TC Energy Co. has a 1-year low of $31.83 and a 1-year high of $50.37. The firm has a market capitalization of $46.83 billion, a price-to-earnings ratio of 12.48, a PEG ratio of 4.34 and a beta of 0.82. The firm’s 50-day moving average price is $47.09 and its 200-day moving average price is $46.09. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.70 by $0.06. The business had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.83 billion. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. Sell-side analysts anticipate that TC Energy Co. will post 2.94 EPS for the current year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were paid a dividend of $0.822 per share. The ex-dividend date was Tuesday, December 31st. This represents a $3.29 annualized dividend and a yield of 7.30%. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s payout ratio is presently 63.43%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. The Goldman Sachs Group lifted their target price on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research report on Monday, October 21st. Veritas upgraded TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. TD Securities started coverage on TC Energy in a report on Wednesday, January 15th. They set a “buy” rating for the company. JPMorgan Chase & Co. upgraded TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. Finally, Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $56.00.

TC Energy 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.