Miller Howard Investments Inc. NY Has $27.75 Million Stock Holdings in TC Energy Co. (NYSE:TRP)

Miller Howard Investments Inc. NY lowered its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 19.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 596,480 shares of the pipeline company’s stock after selling 142,534 shares during the quarter. Miller Howard Investments Inc. NY owned approximately 0.06% of TC Energy worth $27,754,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of TC Energy by 156.1% in the third 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 last quarter. Geode Capital Management LLC increased its holdings in TC Energy by 8.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,712,660 shares of the pipeline company’s stock valued at $225,890,000 after purchasing an additional 360,548 shares in the last quarter. Merewether Investment Management LP raised its position in TC Energy by 37.9% in the 3rd quarter. Merewether Investment Management LP now owns 4,097,600 shares of the pipeline company’s stock valued at $194,776,000 after purchasing an additional 1,127,000 shares during the last quarter. Kayne Anderson Capital Advisors LP boosted its stake in TC Energy by 29.2% in the third quarter. Kayne Anderson Capital Advisors LP now owns 3,198,140 shares of the pipeline company’s stock worth $152,072,000 after purchasing an additional 722,619 shares in the last quarter. Finally, Swiss National Bank grew its holdings in shares of TC Energy by 0.8% during the third quarter. Swiss National Bank now owns 3,137,901 shares of the pipeline company’s stock worth $149,401,000 after purchasing an additional 24,800 shares during the last quarter. 83.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on TRP. US Capital Advisors raised TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. TD Securities initiated coverage on shares of TC Energy in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. JPMorgan Chase & Co. raised shares of TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. The Goldman Sachs Group boosted their price objective on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research report on Monday, October 21st. Finally, Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, TC Energy has a consensus rating of “Hold” and a consensus target price of $56.00.

TC Energy Price Performance

Shares of TRP stock opened at $46.89 on Friday. The firm’s 50 day moving average price is $46.78 and its two-hundred day moving average price is $46.33. The stock has a market cap of $48.72 billion, a PE ratio of 12.99, a PEG ratio of 4.45 and a beta of 0.81. TC Energy Co. has a 52-week low of $31.83 and a 52-week high of $50.37. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. The business had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.83 billion. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. As a group, analysts forecast that TC Energy Co. will post 2.92 EPS for the current year.

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.