New Hampshire Trust Grows Holdings in TC Energy Co. (NYSE:TRP)

New Hampshire Trust lifted its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 3.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,263 shares of the pipeline company’s stock after buying an additional 269 shares during the quarter. New Hampshire Trust’s holdings in TC Energy were worth $292,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Canoe Financial LP grew its position in shares of TC Energy by 781.8% in the 4th quarter. Canoe Financial LP now owns 704,176 shares of the pipeline company’s stock worth $27,526,000 after buying an additional 624,316 shares during the period. Allspring Global Investments Holdings LLC grew its position in TC Energy by 29,994.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 309,376 shares of the pipeline company’s stock valued at $12,094,000 after purchasing an additional 308,348 shares during the last quarter. Addenda Capital Inc. grew its position in TC Energy by 2.5% during the 4th quarter. Addenda Capital Inc. now owns 1,089,146 shares of the pipeline company’s stock valued at $42,575,000 after purchasing an additional 26,711 shares during the last quarter. Morgan Stanley grew its position in TC Energy by 42.5% during the 3rd quarter. Morgan Stanley now owns 6,821,231 shares of the pipeline company’s stock valued at $234,719,000 after purchasing an additional 2,034,846 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in TC Energy during the 4th quarter valued at about $2,050,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Price Performance

Shares of NYSE:TRP opened at $38.18 on Friday. The firm’s 50 day moving average price is $37.73 and its 200-day moving average price is $38.74. The stock has a market capitalization of $38.18 billion, a PE ratio of 19.68, a price-to-earnings-growth ratio of 3.18 and a beta of 0.79. TC Energy Co. has a twelve month low of $32.51 and a twelve month high of $41.03. The company has a quick ratio of 0.85, a current ratio of 0.94 and a debt-to-equity ratio of 1.64.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Friday, May 3rd. The pipeline company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.09. The company had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.12 billion. TC Energy had a net margin of 17.23% and a return on equity of 17.94%. Equities research analysts expect that TC Energy Co. will post 3 EPS for the current year.

TC Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 7.44%. The ex-dividend date is Friday, June 28th. TC Energy’s dividend payout ratio (DPR) is currently 145.88%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Jefferies Financial Group initiated coverage on shares of TC Energy in a research report on Tuesday, February 27th. They set a “hold” rating on the stock. TheStreet upgraded shares of TC Energy from a “c+” rating to a “b-” rating in a research note on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $48.83.

About TC Energy

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.