Code Waechter LLC Sells 12,920 Shares of TC Energy Corporation (NYSE:TRP)

Code Waechter LLC reduced its stake in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 37.7% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 21,348 shares of the pipeline company's stock after selling 12,920 shares during the period. TC Energy comprises approximately 0.8% of Code Waechter LLC's portfolio, making the stock its 24th biggest position. Code Waechter LLC's holdings in TC Energy were worth $1,008,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale boosted its stake in shares of TC Energy by 21.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 261,426 shares of the pipeline company's stock worth $12,453,000 after buying an additional 45,447 shares during the last quarter. Capital Management Associates Inc purchased a new position in shares of TC Energy in the 1st quarter worth approximately $378,000. Financial Counselors Inc. boosted its stake in shares of TC Energy by 22.4% in the 1st quarter. Financial Counselors Inc. now owns 247,119 shares of the pipeline company's stock worth $11,666,000 after buying an additional 45,154 shares during the last quarter. YANKCOM Partnership boosted its stake in shares of TC Energy by 22.1% in the 1st quarter. YANKCOM Partnership now owns 15,524 shares of the pipeline company's stock worth $733,000 after buying an additional 2,810 shares during the last quarter. Finally, Penserra Capital Management LLC boosted its stake in shares of TC Energy by 10,620.7% in the 1st quarter. Penserra Capital Management LLC now owns 9,327 shares of the pipeline company's stock worth $440,000 after buying an additional 9,240 shares during the last quarter. 83.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

TC Energy Price Performance

TC Energy stock opened at $46.63 on Thursday. TC Energy Corporation has a 12 month low of $37.41 and a 12 month high of $51.99. The company has a current ratio of 0.70, a quick ratio of 0.63 and a debt-to-equity ratio of 1.61. The business's 50 day simple moving average is $49.26 and its 200 day simple moving average is $47.76. The company has a market cap of $48.49 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 4.50 and a beta of 0.76.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its quarterly earnings data 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 net margin of 29.17% and a return on equity of 11.41%. The firm had revenue of $1.78 billion during the quarter, compared to analysts' expectations of $2.57 billion. During the same quarter in the previous year, the company posted $1.02 EPS. Sell-side analysts forecast that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a dividend of $0.6142 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.46 annualized dividend and a dividend yield of 5.27%. TC Energy's dividend payout ratio is currently 82.18%.

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.

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