TC Energy Co. (NYSE:TRP) is Ausbil Investment Management Ltd’s 8th Largest Position

Ausbil Investment Management Ltd increased its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 2.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 188,275 shares of the pipeline company’s stock after purchasing an additional 3,917 shares during the quarter. TC Energy accounts for 3.8% of Ausbil Investment Management Ltd’s portfolio, making the stock its 8th largest position. Ausbil Investment Management Ltd’s holdings in TC Energy were worth $7,581,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in TRP. EdgeRock Capital LLC purchased a new position in shares of TC Energy in the fourth quarter valued at $25,000. Bruce G. Allen Investments LLC purchased a new position in shares of TC Energy in the fourth quarter valued at $26,000. Creekmur Asset Management LLC purchased a new position in shares of TC Energy in the fourth quarter valued at $27,000. Glassman Wealth Services boosted its stake in TC Energy by 61.0% during the 4th quarter. Glassman Wealth Services now owns 726 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 275 shares during the last quarter. Finally, OLD Point Trust & Financial Services N A bought a new position in TC Energy during the 4th quarter valued at $31,000. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

TC Energy Stock Performance

Shares of TRP stock traded down $1.02 during trading hours on Friday, reaching $37.53. The stock had a trading volume of 163,421 shares, compared to its average volume of 2,980,379. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.94 and a quick ratio of 0.85. TC Energy Co. has a twelve month low of $32.51 and a twelve month high of $41.03. The firm has a 50-day simple moving average of $37.99 and a 200-day simple moving average of $38.77. The firm has a market capitalization of $37.53 billion, a PE ratio of 19.87, a price-to-earnings-growth ratio of 3.20 and a beta of 0.79.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Friday, May 3rd. The pipeline company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.09. TC Energy had a net margin of 17.23% and a return on equity of 17.94%. The business had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.12 billion. As a group, equities analysts forecast that TC Energy Co. will post 3.01 earnings per share for the current year.

TC Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be given a $0.71 dividend. The ex-dividend date 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 is presently 145.88%.

Wall Street Analysts Forecast Growth

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

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.