Ausbil Investment Management Ltd Sells 95,099 Shares of TC Energy Corporation (NYSE:TRP)

Ausbil Investment Management Ltd reduced its stake in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 56.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 74,582 shares of the pipeline company's stock after selling 95,099 shares during the quarter. TC Energy accounts for approximately 2.3% of Ausbil Investment Management Ltd's portfolio, making the stock its 20th largest holding. Ausbil Investment Management Ltd's holdings in TC Energy were worth $3,522,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allworth Financial LP grew its stake in shares of TC Energy by 72.2% in the fourth quarter. Allworth Financial LP now owns 1,941 shares of the pipeline company's stock worth $92,000 after purchasing an additional 814 shares during the last quarter. D.A. Davidson & CO. bought a new stake in shares of TC Energy in the fourth quarter worth about $297,000. Global Retirement Partners LLC grew its stake in shares of TC Energy by 7.2% in the fourth quarter. Global Retirement Partners LLC now owns 4,099 shares of the pipeline company's stock worth $191,000 after purchasing an additional 274 shares during the last quarter. Allianz Asset Management GmbH grew its stake in shares of TC Energy by 5.5% in the fourth quarter. Allianz Asset Management GmbH now owns 1,086,132 shares of the pipeline company's stock worth $50,591,000 after purchasing an additional 56,566 shares during the last quarter. Finally, Atlantic Family Wealth LLC bought a new stake in shares of TC Energy in the fourth quarter worth about $251,000. 83.13% of the stock is owned by institutional investors.

TC Energy Price Performance

Shares of NYSE TRP opened at $47.40 on Monday. TC Energy Corporation has a twelve month low of $37.07 and a twelve month high of $51.99. The firm has a market cap of $49.29 billion, a P/E ratio of 15.64, a PEG ratio of 4.56 and a beta of 0.78. The company has a 50 day moving average of $49.65 and a 200 day moving average of $47.66. 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 announced its quarterly earnings data on Thursday, May 1st. The pipeline company reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $2.57 billion. During the same quarter in the previous year, the firm earned $1.02 earnings per share. As a group, research analysts expect that TC Energy Corporation 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 given a $0.6142 dividend. This represents a $2.46 dividend on an annualized basis and a yield of 5.18%. The ex-dividend date is Monday, June 30th. TC Energy's dividend payout ratio (DPR) is presently 77.89%.

Analyst Ratings Changes

TRP has been the topic of several recent analyst reports. Cibc World Mkts raised TC Energy from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 2nd. Citigroup initiated coverage on TC Energy in a research note on Friday, April 4th. They issued a "neutral" rating on the stock. CIBC raised TC Energy from a "neutral" rating to a "sector outperform" rating in a research note on Friday, May 2nd. Finally, Wall Street Zen lowered shares of TC Energy from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus 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.

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