9,143 Shares in TC Energy Corporation (NYSE:TRP) Bought by Wealthstar Advisors LLC

Wealthstar Advisors LLC bought a new position in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 9,143 shares of the pipeline company's stock, valued at approximately $432,000.

A number of other institutional investors have also added to or reduced their stakes in TRP. Allspring Global Investments Holdings LLC increased its holdings in shares of TC Energy by 5.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 231,297 shares of the pipeline company's stock valued at $11,056,000 after purchasing an additional 11,322 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its holdings in shares of TC Energy by 10.1% in the first quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,559,786 shares of the pipeline company's stock valued at $73,637,000 after purchasing an additional 143,462 shares during the last quarter. Achmea Investment Management B.V. increased its holdings in shares of TC Energy by 4.8% in the first quarter. Achmea Investment Management B.V. now owns 449,070 shares of the pipeline company's stock valued at $21,204,000 after purchasing an additional 20,378 shares during the last quarter. Quaero Capital S.A. increased its holdings in shares of TC Energy by 10.3% in the first quarter. Quaero Capital S.A. now owns 28,965 shares of the pipeline company's stock valued at $1,368,000 after purchasing an additional 2,705 shares during the last quarter. Finally, Sequoia Financial Advisors LLC grew its stake in shares of TC Energy by 13.4% in the first quarter. Sequoia Financial Advisors LLC now owns 11,539 shares of the pipeline company's stock valued at $545,000 after acquiring an additional 1,362 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TRP has been the topic of several research reports. Wall Street Zen downgraded shares of TC Energy from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Citigroup initiated coverage on shares of TC Energy in a research note on Friday, April 4th. They issued a "neutral" rating on the stock. CIBC upgraded shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a research note on Friday, May 2nd. Finally, Cibc World Mkts upgraded shares of TC Energy from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $62.00.

TC Energy Stock Up 2.2%

Shares of NYSE TRP opened at $49.01 on Friday. The company has a 50 day simple moving average of $49.54 and a 200 day simple moving average of $47.67. The firm has a market cap of $50.97 billion, a PE ratio of 16.18, a price-to-earnings-growth ratio of 4.67 and a beta of 0.78. TC Energy Corporation has a 1 year low of $37.07 and a 1 year high of $51.99. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.70 and a quick ratio of 0.63.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued 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). TC Energy had a net margin of 29.17% and a return on equity of 11.41%. The business had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter last year, the business earned $1.02 EPS. On average, research analysts forecast that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a dividend of $0.6142 per share. The ex-dividend date is Monday, June 30th. This represents a $2.46 annualized dividend and a yield of 5.01%. TC Energy's payout ratio is 77.89%.

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.

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