Janus Henderson Group PLC Trims Stock Position in TC Energy Co. (NYSE:TRP)

Janus Henderson Group PLC lowered its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 0.0% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 994,077 shares of the pipeline company’s stock after selling 226 shares during the period. Janus Henderson Group PLC owned about 0.10% of TC Energy worth $47,297,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Canada Pension Plan Investment Board raised its stake in shares of TC Energy by 107.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 19,462,155 shares of the pipeline company’s stock valued at $737,609,000 after buying an additional 10,065,000 shares during the last quarter. Legal & General Group Plc grew its position in shares of TC Energy by 4.1% during the 2nd quarter. Legal & General Group Plc now owns 11,892,999 shares of the pipeline company’s stock valued at $450,749,000 after acquiring an additional 467,497 shares during the period. CIBC Asset Management Inc grew its position in shares of TC Energy by 2.6% during the 2nd quarter. CIBC Asset Management Inc now owns 8,515,086 shares of the pipeline company’s stock valued at $322,584,000 after acquiring an additional 214,689 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of TC Energy by 156.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company’s stock valued at $321,778,000 after acquiring an additional 4,126,801 shares during the period. Finally, Thornburg Investment Management Inc. grew its position in shares of TC Energy by 42.0% during the 2nd quarter. Thornburg Investment Management Inc. now owns 3,590,617 shares of the pipeline company’s stock valued at $136,148,000 after acquiring an additional 1,062,805 shares during the period. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. The Goldman Sachs Group raised their target price on TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. upgraded TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. BMO Capital Markets raised their target price on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research report on Wednesday, November 20th. StockNews.com began coverage on TC Energy in a report on Wednesday. They issued a “hold” rating on the stock. Finally, Veritas upgraded TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $55.67.

TC Energy Trading Down 0.1 %

NYSE TRP opened at $48.96 on Friday. The stock has a market capitalization of $50.82 billion, a P/E ratio of 13.56, a P/E/G ratio of 4.05 and a beta of 0.82. TC Energy Co. has a 52-week low of $31.83 and a 52-week high of $50.37. The firm has a 50-day moving average price of $47.59 and a 200 day moving average price of $43.83. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.06. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.83 billion. Equities research analysts expect that TC Energy Co. will post 3 EPS for the current year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a $0.822 dividend. The ex-dividend date is Tuesday, December 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. This represents a $3.29 annualized dividend and a dividend yield of 6.72%. TC Energy’s dividend payout ratio is currently 67.31%.

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.