Wealthstar Advisors LLC Takes $432,000 Position in TC Energy Corporation (NYSE:TRP)

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

Other large investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its stake 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 worth $11,056,000 after purchasing an additional 11,322 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its stake in TC Energy by 10.1% in the 1st 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 buying an additional 143,462 shares in the last quarter. Achmea Investment Management B.V. grew its stake in TC Energy by 4.8% in the 1st quarter. Achmea Investment Management B.V. now owns 449,070 shares of the pipeline company's stock valued at $21,204,000 after buying an additional 20,378 shares in the last quarter. Quaero Capital S.A. raised its holdings in TC Energy by 10.3% during the 1st quarter. Quaero Capital S.A. now owns 28,965 shares of the pipeline company's stock valued at $1,368,000 after acquiring an additional 2,705 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its position in shares of TC Energy by 13.4% during the first quarter. Sequoia Financial Advisors LLC now owns 11,539 shares of the pipeline company's stock worth $545,000 after acquiring an additional 1,362 shares in the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Price Performance

Shares of NYSE TRP traded up $0.07 during mid-day trading on Wednesday, reaching $47.95. 4,715,972 shares of the company were exchanged, compared to its average volume of 2,506,029. TC Energy Corporation has a 52 week low of $37.07 and a 52 week high of $51.99. The company's 50 day moving average price is $49.52 and its 200 day moving average price is $47.69. The stock has a market capitalization of $49.87 billion, a PE ratio of 15.83, a PEG ratio of 4.66 and a beta of 0.76. The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of 1.61.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its quarterly earnings results on Thursday, May 1st. The pipeline company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.04). TC Energy had a return on equity of 11.41% and a net margin of 29.17%. The firm had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same period last year, the firm earned $1.02 EPS. Sell-side analysts forecast that TC Energy Corporation will post 2.63 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be given a $0.6142 dividend. The ex-dividend date is Monday, June 30th. This represents a $2.46 dividend on an annualized basis and a yield of 5.12%. TC Energy's payout ratio is 81.52%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. CIBC upgraded TC Energy from a "neutral" rating to a "sector outperform" rating in a research report on Friday, May 2nd. Wall Street Zen downgraded shares of TC Energy from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Citigroup initiated coverage on shares of TC Energy in a report on Friday, April 4th. They issued a "neutral" rating on the stock. Finally, Cibc World Mkts upgraded TC Energy from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, TC Energy currently has an average rating of "Moderate Buy" and an average target price of $62.00.

TC Energy Company 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.