Bell Bank Boosts Stake in TC Energy Corporation (NYSE:TRP)

Bell Bank lifted its position in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 5.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 184,909 shares of the pipeline company's stock after purchasing an additional 9,167 shares during the period. Bell Bank's holdings in TC Energy were worth $8,730,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. NTV Asset Management LLC raised its stake in shares of TC Energy by 4.0% during the 4th quarter. NTV Asset Management LLC now owns 6,189 shares of the pipeline company's stock worth $288,000 after purchasing an additional 239 shares during the period. IFP Advisors Inc increased its holdings in TC Energy by 7.0% during the fourth quarter. IFP Advisors Inc now owns 3,809 shares of the pipeline company's stock worth $177,000 after buying an additional 249 shares during the last quarter. Benjamin Edwards Inc. raised its position in TC Energy by 1.7% in the fourth quarter. Benjamin Edwards Inc. now owns 16,003 shares of the pipeline company's stock worth $745,000 after acquiring an additional 273 shares during the period. Global Retirement Partners LLC boosted its stake in TC Energy by 7.2% in the fourth quarter. Global Retirement Partners LLC now owns 4,099 shares of the pipeline company's stock valued at $191,000 after acquiring an additional 274 shares during the last quarter. Finally, First Bank & Trust grew its position in shares of TC Energy by 0.6% during the 4th quarter. First Bank & Trust now owns 58,396 shares of the pipeline company's stock valued at $2,717,000 after acquiring an additional 347 shares during the period. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TRP has been the topic of a number of research reports. Citigroup initiated coverage on shares of TC Energy in a report on Friday, April 4th. They issued a "neutral" rating on the stock. Wall Street Zen downgraded TC Energy from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. CIBC raised TC Energy from a "neutral" rating to a "sector outperform" rating in a research report on Friday, May 2nd. Finally, Cibc World Mkts upgraded 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 issued a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $62.00.

TC Energy Price Performance

TRP traded down $0.35 during trading on Friday, reaching $47.40. 1,729,621 shares of the company were exchanged, compared to its average volume of 2,473,914. TC Energy Corporation has a 12-month low of $37.07 and a 12-month high of $51.99. The company's 50-day moving average is $49.65 and its two-hundred day moving average is $47.69. The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of 1.61. The company has a market cap of $49.28 billion, a price-to-earnings ratio of 15.64, a P/E/G ratio of 4.59 and a beta of 0.78.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its quarterly earnings results 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 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 period in the previous year, the company posted $1.02 earnings per share. Research 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. Shareholders of record on Monday, June 30th will be paid a $0.6142 dividend. This represents a $2.46 annualized dividend and a yield of 5.18%. The ex-dividend date is Monday, June 30th. TC Energy's dividend payout ratio is presently 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.