Catalyst Capital Advisors LLC Boosts Position in TC Energy Corporation (NYSE:TRP)

Catalyst Capital Advisors LLC raised its position in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 16.4% during the first quarter, according to its most recent filing with the 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 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TRP. Lowe Wealth Advisors LLC acquired a new stake in shares of TC Energy in the 1st quarter worth $30,000. SBI Securities Co. Ltd. purchased a new position in shares of TC Energy during the 4th quarter worth $31,000. Synergy Investment Management LLC purchased a new position in shares of TC Energy during the 4th quarter worth $36,000. Millstone Evans Group LLC purchased a new position in shares of TC Energy during the 4th quarter worth $41,000. Finally, Golden State Wealth Management LLC raised its holdings in shares of TC Energy by 222.2% during the 1st quarter. Golden State Wealth Management LLC now owns 1,076 shares of the pipeline company's stock worth $51,000 after acquiring an additional 742 shares during the period. Hedge funds and other institutional investors own 83.13% of the company's stock.

Wall Street Analysts Forecast Growth

TRP has been the topic of several analyst reports. Cibc World Mkts upgraded TC Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, May 2nd. Citigroup initiated coverage on TC Energy in a research report on Friday, April 4th. They set a "neutral" rating for the company. Finally, CIBC raised 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 issued a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $62.00.

TC Energy Stock Down 1.6%

Shares of TC Energy stock traded down $0.76 on Monday, reaching $47.39. 1,445,816 shares of the company were exchanged, compared to its average volume of 2,473,249. TC Energy Corporation has a 1-year low of $37.07 and a 1-year high of $51.99. The company 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. 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 stock's 50 day moving average price is $49.45 and its 200-day moving average price is $47.76.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its earnings results on Thursday, May 1st. The pipeline company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.04). The business had revenue of $1.78 billion for the quarter, compared to analysts' expectations of $2.57 billion. TC Energy had a return on equity of 11.41% and a net margin of 29.17%. During the same quarter in the previous year, the firm earned $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 firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be paid a dividend of $0.6142 per share. This represents a $2.46 annualized dividend and a yield of 5.18%. The ex-dividend date is Monday, June 30th. TC Energy's payout ratio is 82.51%.

TC Energy 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.