Coleford Investment Management Ltd. Sells 5,287 Shares of TC Energy Corporation (NYSE:TRP)

Coleford Investment Management Ltd. decreased its holdings in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 1.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 279,473 shares of the pipeline company's stock after selling 5,287 shares during the period. TC Energy accounts for 3.7% of Coleford Investment Management Ltd.'s portfolio, making the stock its 17th largest position. Coleford Investment Management Ltd.'s holdings in TC Energy were worth $13,364,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Lowe Wealth Advisors LLC bought a new position in shares of TC Energy during the first quarter valued at approximately $30,000. Millstone Evans Group LLC bought a new position in TC Energy in the 4th quarter worth about $41,000. TruNorth Capital Management LLC bought a new position in TC Energy in the 1st quarter worth about $45,000. Golden State Wealth Management LLC boosted its stake in TC Energy by 222.2% in the 1st quarter. Golden State Wealth Management LLC now owns 1,076 shares of the pipeline company's stock worth $51,000 after purchasing an additional 742 shares in the last quarter. Finally, SBI Securities Co. Ltd. boosted its stake in TC Energy by 75.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,166 shares of the pipeline company's stock worth $55,000 after purchasing an additional 501 shares in the last quarter. Institutional investors own 83.13% of the company's stock.

TC Energy Stock Performance

TRP stock traded up $0.37 on Friday, hitting $48.09. The company had a trading volume of 230,855 shares, compared to its average volume of 2,470,269. TC Energy Corporation has a 12-month low of $36.57 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 stock's 50-day simple moving average is $48.96 and its 200 day simple moving average is $47.83. The stock has a market cap of $50.01 billion, a price-to-earnings ratio of 15.84, a P/E/G ratio of 4.62 and a beta of 0.76.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its earnings results on Thursday, May 1st. The pipeline company reported $0.66 earnings per share (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 during the quarter, compared to analysts' expectations of $2.57 billion. During the same quarter in the prior year, the business posted $1.02 EPS. As a group, equities research analysts expect that TC Energy Corporation will post 2.63 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a $0.6142 dividend. This represents a $2.46 annualized dividend and a dividend yield of 5.11%. The ex-dividend date is Monday, June 30th. TC Energy's dividend payout ratio (DPR) is presently 82.51%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on TRP shares. Citigroup started coverage on shares of TC Energy in a research note on Friday, April 4th. They issued a "neutral" rating on the stock. CIBC upgraded shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a research note on Friday, May 2nd. Finally, Cibc World Mkts upgraded shares of 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, six have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $62.00.

TC Energy Company 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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