Catalyst Capital Advisors LLC Reduces Holdings in TC Energy Corporation $TRP

Catalyst Capital Advisors LLC reduced its stake in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 2.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 370,703 shares of the pipeline company's stock after selling 8,110 shares during the quarter. Catalyst Capital Advisors LLC's holdings in TC Energy were worth $18,087,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of TC Energy by 1.6% during the first quarter. Vanguard Group Inc. now owns 44,397,978 shares of the pipeline company's stock worth $2,096,739,000 after buying an additional 710,837 shares during the period. Canada Pension Plan Investment Board lifted its position in TC Energy by 34.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 19,808,558 shares of the pipeline company's stock worth $935,627,000 after acquiring an additional 5,053,228 shares during the period. TD Asset Management Inc grew its stake in TC Energy by 9.3% during the 2nd quarter. TD Asset Management Inc now owns 19,074,181 shares of the pipeline company's stock valued at $929,316,000 after purchasing an additional 1,618,441 shares during the last quarter. Bank of Nova Scotia increased its holdings in shares of TC Energy by 80.3% in the first quarter. Bank of Nova Scotia now owns 16,983,443 shares of the pipeline company's stock valued at $802,164,000 after purchasing an additional 7,562,887 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of TC Energy by 2,565.1% in the first quarter. Goldman Sachs Group Inc. now owns 16,306,187 shares of the pipeline company's stock worth $769,815,000 after purchasing an additional 15,694,336 shares during the last quarter. Hedge funds and other institutional investors own 83.13% of the company's stock.

TC Energy Trading Down 1.5%

TRP stock opened at $51.00 on Friday. TC Energy Corporation has a 52-week low of $43.51 and a 52-week high of $55.37. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.54. The firm has a market cap of $53.05 billion, a P/E ratio of 17.41, a PEG ratio of 4.91 and a beta of 0.75. The company's 50-day simple moving average is $52.34 and its 200-day simple moving average is $50.03.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its quarterly earnings results on Thursday, July 31st. The pipeline company reported $0.59 earnings per share for the quarter, topping analysts' consensus estimates of $0.56 by $0.03. TC Energy had a return on equity of 11.22% and a net margin of 28.98%.The company had revenue of $1.82 billion during the quarter, compared to analysts' expectations of $2.56 billion. During the same quarter in the prior year, the firm posted $0.79 EPS. As a group, equities analysts forecast that TC Energy Corporation will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 29th will be paid a $0.6148 dividend. The ex-dividend date of this dividend is Monday, September 29th. This represents a $2.46 dividend on an annualized basis and a yield of 4.8%. This is an increase from TC Energy's previous quarterly dividend of $0.61. TC Energy's dividend payout ratio is 84.30%.

Analyst Ratings Changes

A number of equities research analysts recently commented on TRP shares. Barclays reiterated an "overweight" rating on shares of TC Energy in a research report on Tuesday, October 14th. Wall Street Zen lowered shares of TC Energy from a "hold" rating to a "sell" rating in a research note on Friday, October 3rd. Scotiabank restated an "outperform" rating on shares of TC Energy in a research report on Monday. TD Securities reaffirmed a "buy" rating on shares of TC Energy in a report on Friday, October 17th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of TC Energy in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $72.00.

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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