Catalyst Capital Advisors LLC Increases Holdings in TC Energy Corporation (NYSE:TRP)

Catalyst Capital Advisors LLC boosted its position in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 16.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 378,813 shares of the pipeline company's stock after purchasing an additional 53,270 shares during the period. Catalyst Capital Advisors LLC's holdings in TC Energy were worth $17,884,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of TC Energy by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 43,687,141 shares of the pipeline company's stock valued at $2,035,952,000 after buying an additional 734,678 shares in the last quarter. FIL Ltd boosted its position in shares of TC Energy by 10.3% in the 4th quarter. FIL Ltd now owns 28,443,403 shares of the pipeline company's stock worth $1,325,558,000 after buying an additional 2,644,627 shares in the last quarter. TD Asset Management Inc. grew its stake in TC Energy by 2.1% in the 4th quarter. TD Asset Management Inc. now owns 16,437,150 shares of the pipeline company's stock valued at $765,627,000 after acquiring an additional 344,485 shares during the last quarter. Canada Pension Plan Investment Board raised its position in shares of TC Energy by 9.5% during the 4th quarter. Canada Pension Plan Investment Board now owns 14,755,330 shares of the pipeline company's stock worth $686,763,000 after purchasing an additional 1,280,000 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of TC Energy in the fourth quarter valued at $428,759,000. 83.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TRP has been the subject of a number of recent research reports. Cibc World Mkts upgraded TC Energy from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 2nd. Citigroup assumed coverage on shares of TC Energy in a report on Friday, April 4th. They set a "neutral" rating for the company. Wall Street Zen lowered shares of TC Energy from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Finally, CIBC upgraded shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a research report on Friday, May 2nd. One investment 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, TC Energy has an average rating of "Moderate Buy" and an average target price of $62.00.

TC Energy Trading Up 0.6%

Shares of TRP stock opened at $48.28 on Friday. The firm's 50-day simple moving average is $49.48 and its 200-day simple moving average is $47.71. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.70 and a quick ratio of 0.63. TC Energy Corporation has a 1-year low of $37.07 and a 1-year high of $51.99. The firm has a market cap of $50.21 billion, a P/E ratio of 15.93, a PEG ratio of 4.58 and a beta of 0.76.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its quarterly earnings results on Thursday, May 1st. The pipeline company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.04). TC Energy had a return on equity of 11.41% and a net margin of 29.17%. The company had revenue of $1.78 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same period last year, the company posted $1.02 EPS. As a group, equities analysts forecast that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a $0.6142 dividend. This represents a $2.46 dividend on an annualized basis and a yield of 5.09%. The ex-dividend date of this dividend 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.

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