Westwood Holdings Group Inc. Has $90.24 Million Position in TC Energy Co. (NYSE:TRP)

Westwood Holdings Group Inc. reduced its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 10.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,939,445 shares of the pipeline company’s stock after selling 221,949 shares during the quarter. Westwood Holdings Group Inc.’s holdings in TC Energy were worth $90,242,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of TC Energy during the fourth quarter worth approximately $428,759,000. Mufg Securities Canada LTD. increased its holdings in shares of TC Energy by 571.7% during the fourth quarter. Mufg Securities Canada LTD. now owns 6,184,832 shares of the pipeline company’s stock worth $288,043,000 after purchasing an additional 5,264,079 shares during the period. Blackstone Inc. increased its holdings in shares of TC Energy by 83.8% during the fourth quarter. Blackstone Inc. now owns 7,637,469 shares of the pipeline company’s stock worth $355,371,000 after purchasing an additional 3,482,874 shares during the period. FIL Ltd increased its holdings in shares of TC Energy by 10.3% during the fourth quarter. FIL Ltd now owns 28,443,403 shares of the pipeline company’s stock worth $1,325,558,000 after purchasing an additional 2,644,627 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of TC Energy during the fourth quarter worth approximately $102,405,000. 83.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on TRP shares. CIBC raised shares of TC Energy from a “neutral” rating to a “sector outperform” rating in a report on Friday, May 2nd. Citigroup started coverage on shares of TC Energy in a report on Friday, April 4th. They set a “neutral” rating on the stock. StockNews.com cut shares of TC Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. Finally, Veritas raised shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $62.00.

TC Energy Stock Performance

Shares of NYSE:TRP opened at $49.84 on Monday. The company’s 50 day simple moving average is $48.43 and its 200 day simple moving average is $47.48. The stock has a market capitalization of $51.81 billion, a price-to-earnings ratio of 15.38, a price-to-earnings-growth ratio of 4.34 and a beta of 0.78. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23. TC Energy Co. has a 1 year low of $37.07 and a 1 year high of $51.34.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Thursday, May 1st. The pipeline company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.04). The firm had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $2.57 billion. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. During the same period last year, the business earned $1.02 earnings per share. As a group, research analysts predict that TC Energy Co. will post 2.63 EPS for the current fiscal year.

TC Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a dividend of $0.6142 per share. The ex-dividend date is Monday, June 30th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 4.93%. TC Energy’s payout ratio is presently 77.89%.

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.