Ausbil Investment Management Ltd Has $13.72 Million Stake in TC Energy Co. (NYSE:TRP)

Ausbil Investment Management Ltd boosted its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 54.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 288,221 shares of the pipeline company’s stock after acquiring an additional 101,305 shares during the quarter. TC Energy accounts for approximately 4.0% of Ausbil Investment Management Ltd’s portfolio, making the stock its 5th largest position. Ausbil Investment Management Ltd’s holdings in TC Energy were worth $13,716,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. boosted its holdings in shares of TC Energy by 72.0% during the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after buying an additional 267 shares during the period. EdgeRock Capital LLC acquired a new stake in TC Energy during the second quarter worth approximately $25,000. Whittier Trust Co. of Nevada Inc. lifted its position in TC Energy by 138.8% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 429 shares during the last quarter. Mather Group LLC. bought a new stake in shares of TC Energy during the second quarter worth approximately $33,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of TC Energy in the second quarter valued at approximately $51,000. Institutional investors own 83.13% of the company’s stock.

Analyst Ratings Changes

TRP has been the subject of several research reports. UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. The Goldman Sachs Group boosted their target price on shares of TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research report on Monday. Veritas raised shares of TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. upgraded shares of TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. Finally, Barclays raised shares of TC Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $48.50.

TC Energy Price Performance

TRP traded up $0.08 on Thursday, hitting $47.04. 197,316 shares of the stock were exchanged, compared to its average volume of 3,186,931. The business has a 50-day moving average of $46.08 and a two-hundred day moving average of $41.40. The firm has a market capitalization of $48.82 billion, a price-to-earnings ratio of 19.24, a PEG ratio of 3.92 and a beta of 0.81. TC Energy Co. has a 12 month low of $30.61 and a 12 month high of $48.25. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.76 and a quick ratio of 0.68.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.29. The business had revenue of $2.99 billion during 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 last year, the business earned $0.71 EPS. Sell-side analysts forecast that TC Energy Co. will post 3.02 EPS for the current fiscal year.

TC Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be given a dividend of $0.702 per share. The ex-dividend date is Friday, September 27th. This represents a $2.81 dividend on an annualized basis and a yield of 5.97%. TC Energy’s dividend payout ratio (DPR) is currently 116.80%.

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.