Capital Management Associates Inc Invests $378,000 in TC Energy Corporation (NYSE:TRP)

Capital Management Associates Inc purchased a new position in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,000 shares of the pipeline company's stock, valued at approximately $378,000.

A number of other institutional investors have also bought and sold shares of the business. Lowe Wealth Advisors LLC bought a new stake in TC Energy in the 1st quarter valued at $30,000. SBI Securities Co. Ltd. purchased a new stake in TC Energy during the 4th quarter valued at $31,000. Millstone Evans Group LLC bought a new stake in shares of TC Energy in the 4th quarter worth about $41,000. Golden State Wealth Management LLC boosted its position in shares of TC Energy by 222.2% during the first quarter. Golden State Wealth Management LLC now owns 1,076 shares of the pipeline company's stock valued at $51,000 after buying an additional 742 shares during the period. Finally, HM Payson & Co. purchased a new position in TC Energy during the 1st quarter valued at $60,000. Hedge funds and other institutional investors own 83.13% of the company's stock.

Analyst Ratings Changes

TRP has been the topic of a number of research reports. Citigroup started coverage on shares of TC Energy in a research report on Friday, April 4th. They set a "neutral" rating on the stock. Cibc World Mkts upgraded shares of TC Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, May 2nd. Finally, CIBC upgraded TC Energy from a "neutral" rating to a "sector outperform" rating in a research note on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $62.00.

TC Energy Stock Performance

TRP traded down $0.16 during trading on Tuesday, reaching $47.24. 2,239,650 shares of the company's stock were exchanged, compared to its average volume of 2,457,180. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.70 and a quick ratio of 0.63. The company's fifty day simple moving average is $49.39 and its 200-day simple moving average is $47.77. TC Energy Corporation has a 1 year low of $37.07 and a 1 year high of $51.99. The stock has a market capitalization of $49.13 billion, a P/E ratio of 15.59, a price-to-earnings-growth ratio of 4.52 and a beta of 0.76.

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 net margin of 29.17% and a return on equity of 11.41%. The company had revenue of $1.78 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same period in the previous year, the firm posted $1.02 earnings per share. As a group, research analysts predict that TC Energy Corporation will post 2.63 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a $0.6142 dividend. This represents a $2.46 annualized dividend and a yield of 5.20%. The ex-dividend date is Monday, June 30th. TC Energy's payout ratio is currently 82.51%.

About TC Energy

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.