TC Energy Corporation $TRP Shares Sold by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT reduced its position in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 8.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,145,800 shares of the pipeline company’s stock after selling 100,000 shares during the period. TC Energy accounts for about 3.0% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings, making the stock its 12th biggest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in TC Energy were worth $66,204,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Canada Pension Plan Investment Board bought a new position in shares of TC Energy during the 2nd quarter worth approximately $1,148,244,000. GQG Partners LLC bought a new position in shares of TC Energy in the second quarter valued at approximately $1,107,936,000. Deutsche Bank AG grew its holdings in shares of TC Energy by 1.3% in the second quarter. Deutsche Bank AG now owns 15,821,521 shares of the pipeline company’s stock valued at $1,048,809,000 after acquiring an additional 196,543 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of TC Energy during the second quarter valued at approximately $977,976,000. Finally, TD Waterhouse Canada Inc. increased its position in shares of TC Energy by 3.0% during the second quarter. TD Waterhouse Canada Inc. now owns 10,619,936 shares of the pipeline company’s stock valued at $695,799,000 after acquiring an additional 312,027 shares during the last quarter. 83.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on TRP shares. Royal Bank Of Canada reissued a “moderate buy” rating and issued a $106.00 price objective on shares of TC Energy in a research report on Friday, September 11th. Raymond James Financial restated a “market perform” rating on shares of TC Energy in a research note on Wednesday, September 16th. TD raised TC Energy to a “buy” rating in a research report on Tuesday, September 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of TC Energy in a research note on Friday, July 31st. Finally, Barclays reiterated an “overweight” rating on shares of TC Energy in a research note on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, TC Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.75.

TC Energy Trading Up 0.2%

NYSE:TRP opened at $62.50 on Tuesday. TC Energy Corporation has a 1 year low of $49.27 and a 1 year high of $71.47. The stock’s fifty day moving average price is $61.26 and its two-hundred day moving average price is $63.39. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.61 and a quick ratio of 0.54. The company has a market cap of $62.50 billion, a P/E ratio of 23.46 and a beta of 0.70.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Thursday, July 30th. The pipeline company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.07. The firm had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.76 billion. TC Energy had a return on equity of 11.10% and a net margin of 22.91%. During the same period in the prior year, the business posted $0.82 earnings per share. As a group, analysts expect that TC Energy Corporation will post 2.78 EPS for the current year.

TC Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Tuesday, September 29th will be issued a dividend of C$0.88 per share. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date of this dividend is Tuesday, September 29th. TC Energy’s payout ratio is currently 104.98%.

TC Energy Profile

TC Energy Corporation (NYSE: TRP) is a North American energy infrastructure company that develops and operates natural gas pipelines, storage facilities, power-generation assets and related energy infrastructure. Its natural gas pipeline network connects major supply basins with utilities, power producers, industrial customers and local distribution companies.

The company’s operations are primarily located in Canada and the United States, with additional natural gas pipeline interests in Mexico.