Capital Management Associates Inc acquired a new stake in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,000 shares of the pipeline company's stock, valued at approximately $378,000.
A number of other large investors have also added to or reduced their stakes in the company. Financial Counselors Inc. raised its holdings in TC Energy by 22.4% in the first quarter. Financial Counselors Inc. now owns 247,119 shares of the pipeline company's stock worth $11,666,000 after purchasing an additional 45,154 shares in the last quarter. YANKCOM Partnership raised its holdings in TC Energy by 22.1% in the first quarter. YANKCOM Partnership now owns 15,524 shares of the pipeline company's stock worth $733,000 after purchasing an additional 2,810 shares in the last quarter. Penserra Capital Management LLC raised its holdings in TC Energy by 10,620.7% in the first quarter. Penserra Capital Management LLC now owns 9,327 shares of the pipeline company's stock worth $440,000 after purchasing an additional 9,240 shares in the last quarter. HM Payson & Co. bought a new position in TC Energy in the first quarter worth about $60,000. Finally, Bank of New York Mellon Corp raised its holdings in TC Energy by 1.1% in the first quarter. Bank of New York Mellon Corp now owns 915,241 shares of the pipeline company's stock worth $43,209,000 after purchasing an additional 10,227 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors.
TC Energy Stock Performance
NYSE TRP traded down $0.76 during trading hours on Monday, reaching $47.39. The stock had a trading volume of 1,445,816 shares, compared to its average volume of 2,473,249. The stock has a fifty day moving average of $49.45 and a 200 day moving average of $47.76. The stock has a market cap of $49.28 billion, a P/E ratio of 15.64, a price-to-earnings-growth ratio of 4.60 and a beta of 0.76. TC Energy Corporation has a 52-week low of $37.07 and a 52-week high of $51.99. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.63 and a current ratio of 0.70.
TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its earnings results on Thursday, May 1st. The pipeline company reported $0.66 EPS for the quarter, missing analysts' consensus estimates of $0.70 by ($0.04). The firm had revenue of $1.78 billion during the quarter, compared to analysts' expectations of $2.57 billion. TC Energy had a net margin of 29.17% and a return on equity of 11.41%. During the same quarter in the prior year, the company earned $1.02 EPS. Sell-side analysts predict that TC Energy Corporation will post 2.63 earnings per share for the current year.
TC Energy Cuts Dividend
The business also recently disclosed 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. The ex-dividend date is Monday, June 30th. This represents a $2.46 annualized dividend and a yield of 5.18%. TC Energy's dividend payout ratio is presently 82.51%.
Analyst Ratings Changes
A number of brokerages have commented on TRP. CIBC upgraded shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a report on Friday, May 2nd. Citigroup began coverage on shares of TC Energy in a report on Friday, April 4th. They set a "neutral" rating on the stock. Finally, Cibc World Mkts upgraded shares of TC Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $62.00.
View Our Latest Analysis on TC Energy
TC Energy Company Profile
(
Free Report)
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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