TC Energy Corporation (NYSE:TRP) Shares Sold by Fiera Capital Corp

Fiera Capital Corp lowered its holdings in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 6.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 628,017 shares of the pipeline company's stock after selling 45,651 shares during the quarter. Fiera Capital Corp owned about 0.06% of TC Energy worth $29,688,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in TRP. Lowe Wealth Advisors LLC acquired a new position in TC Energy during the 1st quarter worth about $30,000. TruNorth Capital Management LLC purchased a new position in TC Energy in the first quarter valued at approximately $45,000. Golden State Wealth Management LLC lifted its position in shares of TC Energy by 222.2% during the first 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 in the last quarter. SBI Securities Co. Ltd. increased its holdings in shares of TC Energy by 75.3% in the first 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 during the period. Finally, HM Payson & Co. bought a new position in shares of TC Energy in the first quarter worth $60,000. Institutional investors and hedge funds own 83.13% of the company's stock.

TC Energy Stock Performance

TC Energy stock traded down $0.04 during midday trading on Wednesday, hitting $47.02. 1,485,409 shares of the company's stock were exchanged, compared to its average volume of 2,238,825. TC Energy Corporation has a 12-month low of $37.41 and a 12-month high of $51.99. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.63 and a current ratio of 0.70. The stock has a market cap of $48.90 billion, a price-to-earnings ratio of 15.52, a price-to-earnings-growth ratio of 4.56 and a beta of 0.76. The firm's 50 day simple moving average is $48.68 and its 200 day simple moving average is $47.84.

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 for the quarter, missing the consensus estimate of $0.70 by ($0.04). The firm had revenue of $1.78 billion during the quarter, compared to analysts' expectations of $2.57 billion. TC Energy had a net margin of 29.17% and a return on equity of 11.41%. During the same period in the previous year, the firm earned $1.02 EPS. Equities research analysts predict that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a dividend of $0.6142 per share. This represents a $2.46 dividend on an annualized basis and a yield of 5.23%. The ex-dividend date of this dividend is Monday, June 30th. TC Energy's dividend payout ratio is currently 82.51%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on TRP shares. Citigroup started coverage on shares of TC Energy in a research report on Friday, April 4th. They set a "neutral" rating for the company. Cibc World Mkts raised shares of TC Energy from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 2nd. Finally, CIBC raised shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $62.00.

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.