Ausbil Investment Management Ltd Purchases 3,917 Shares of TC Energy Co. (NYSE:TRP)

Ausbil Investment Management Ltd grew its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 2.1% during the first quarter, HoldingsChannel.com reports. The firm owned 188,275 shares of the pipeline company’s stock after purchasing an additional 3,917 shares during the period. TC Energy makes up approximately 3.8% of Ausbil Investment Management Ltd’s portfolio, making the stock its 8th biggest holding. Ausbil Investment Management Ltd’s holdings in TC Energy were worth $7,581,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in TRP. Stifel Financial Corp lifted its stake in shares of TC Energy by 4.9% in the third quarter. Stifel Financial Corp now owns 354,345 shares of the pipeline company’s stock worth $12,193,000 after acquiring an additional 16,641 shares during the period. Tower Research Capital LLC TRC lifted its stake in TC Energy by 65.5% in the third quarter. Tower Research Capital LLC TRC now owns 22,869 shares of the pipeline company’s stock valued at $787,000 after buying an additional 9,048 shares during the period. Van Lanschot Kempen Investment Management N.V. acquired a new position in TC Energy in the third quarter valued at approximately $3,072,000. Schonfeld Strategic Advisors LLC lifted its stake in TC Energy by 80.6% in the third quarter. Schonfeld Strategic Advisors LLC now owns 73,700 shares of the pipeline company’s stock valued at $2,536,000 after buying an additional 32,900 shares during the period. Finally, Blackstone Inc. lifted its stake in TC Energy by 540.4% in the third quarter. Blackstone Inc. now owns 3,117,031 shares of the pipeline company’s stock valued at $107,257,000 after buying an additional 2,630,324 shares during the period. 83.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, TheStreet raised TC Energy from a “c+” rating to a “b-” rating in a research note on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $48.83.

TC Energy Stock Down 2.6 %

TC Energy stock traded down $1.02 during trading on Friday, hitting $37.53. 163,421 shares of the company were exchanged, compared to its average volume of 2,980,379. The business’s 50 day moving average is $37.99 and its 200 day moving average is $38.77. TC Energy Co. has a 52 week low of $32.51 and a 52 week high of $41.03. The company has a market capitalization of $37.53 billion, a P/E ratio of 19.87, a PEG ratio of 3.20 and a beta of 0.79. The company has a current ratio of 0.94, a quick ratio of 0.85 and a debt-to-equity ratio of 1.64.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Friday, May 3rd. The pipeline company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.09. The firm had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.12 billion. TC Energy had a return on equity of 17.94% and a net margin of 17.23%. Analysts predict that TC Energy Co. will post 3.01 earnings per share for the current year.

TC Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.84 dividend on an annualized basis and a yield of 7.57%. TC Energy’s dividend payout ratio (DPR) is presently 145.88%.

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.