TC Energy Corporation (NYSE:TRP) Shares Sold by Ausbil Investment Management Ltd

Ausbil Investment Management Ltd reduced its position in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 56.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 74,582 shares of the pipeline company's stock after selling 95,099 shares during the quarter. TC Energy comprises about 2.3% of Ausbil Investment Management Ltd's portfolio, making the stock its 20th biggest position. Ausbil Investment Management Ltd's holdings in TC Energy were worth $3,522,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. BROOKFIELD Corp ON increased its stake in shares of TC Energy by 31.6% during the fourth quarter. BROOKFIELD Corp ON now owns 1,890,168 shares of the pipeline company's stock valued at $87,950,000 after buying an additional 454,011 shares during the period. O Shaughnessy Asset Management LLC increased its position in TC Energy by 7.8% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 224,829 shares of the pipeline company's stock valued at $10,463,000 after purchasing an additional 16,334 shares during the period. Farther Finance Advisors LLC increased its position in TC Energy by 77.7% during the 1st quarter. Farther Finance Advisors LLC now owns 2,299 shares of the pipeline company's stock valued at $110,000 after purchasing an additional 1,005 shares during the period. AXA S.A. raised its holdings in shares of TC Energy by 28.4% in the 4th quarter. AXA S.A. now owns 142,095 shares of the pipeline company's stock valued at $6,612,000 after purchasing an additional 31,441 shares in the last quarter. Finally, Cinctive Capital Management LP lifted its position in shares of TC Energy by 12.3% in the 4th quarter. Cinctive Capital Management LP now owns 194,133 shares of the pipeline company's stock worth $9,042,000 after purchasing an additional 21,243 shares during the period. 83.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

TC Energy Stock Up 2.1%

Shares of TRP stock traded up $0.99 during trading hours on Thursday, reaching $47.97. 3,504,535 shares of the company's stock were exchanged, compared to its average volume of 2,486,295. TC Energy Corporation has a fifty-two week low of $37.07 and a fifty-two week high of $51.99. The stock's 50 day moving average is $49.54 and its 200-day moving average is $47.65. The company has a current ratio of 0.70, a quick ratio of 0.63 and a debt-to-equity ratio of 1.61. The company has a market cap of $49.88 billion, a price-to-earnings ratio of 15.83, a P/E/G ratio of 4.49 and a beta of 0.78.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its 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 net margin of 29.17% and a return on equity of 11.41%. The business had revenue of $1.78 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same period in the prior year, the company earned $1.02 earnings per share. Analysts predict that TC Energy Corporation will post 2.63 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a dividend of $0.6142 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.46 annualized dividend and a dividend yield of 5.12%. TC Energy's dividend payout ratio (DPR) is currently 77.89%.

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.