Westwood Holdings Group Inc. Has $57.85 Million Stock Holdings in TC Energy Co. (NYSE:TRP)

Westwood Holdings Group Inc. lifted its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 650.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,526,365 shares of the pipeline company’s stock after purchasing an additional 1,322,976 shares during the quarter. Westwood Holdings Group Inc. owned approximately 0.15% of TC Energy worth $57,849,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Capital Research Global Investors grew its holdings in TC Energy by 2.7% during the first quarter. Capital Research Global Investors now owns 57,170,304 shares of the pipeline company’s stock valued at $2,297,701,000 after purchasing an additional 1,492,315 shares during the last quarter. Capital International Investors grew its stake in TC Energy by 11.8% in the 4th quarter. Capital International Investors now owns 55,161,245 shares of the pipeline company’s stock valued at $2,155,419,000 after buying an additional 5,822,056 shares during the last quarter. Vanguard Group Inc. raised its holdings in TC Energy by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 41,057,330 shares of the pipeline company’s stock worth $1,650,505,000 after acquiring an additional 653,031 shares during the period. Capital World Investors lifted its position in TC Energy by 0.5% during the 4th quarter. Capital World Investors now owns 37,412,046 shares of the pipeline company’s stock worth $1,461,583,000 after acquiring an additional 181,091 shares during the last quarter. Finally, Bank of Nova Scotia boosted its holdings in TC Energy by 13.7% during the fourth quarter. Bank of Nova Scotia now owns 28,980,334 shares of the pipeline company’s stock valued at $1,132,854,000 after acquiring an additional 3,497,666 shares during the period. Institutional investors and hedge funds own 83.13% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on TRP. Barclays upgraded TC Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, July 17th. StockNews.com initiated coverage on shares of TC Energy in a research report on Thursday. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $43.50.

TC Energy Stock Up 2.6 %

Shares of TRP opened at $46.17 on Friday. TC Energy Co. has a 12 month low of $32.51 and a 12 month high of $47.38. The stock has a market cap of $46.17 billion, a price-to-earnings ratio of 23.80, a P/E/G ratio of 3.81 and a beta of 0.81. The company has a 50-day moving average price of $44.02 and a two-hundred day moving average price of $40.37. The company has a quick ratio of 0.68, a current ratio of 0.76 and a debt-to-equity ratio of 1.57.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.29. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.78 billion. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. During the same quarter in the prior year, the firm earned $0.71 EPS. Equities analysts predict that TC Energy Co. will post 3.06 EPS for the current fiscal year.

TC Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be given a dividend of $0.702 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.81 annualized dividend and a yield of 6.08%. TC Energy’s dividend payout ratio (DPR) is 146.39%.

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.