Financial Counselors Inc. Has $11.67 Million Holdings in TC Energy Corporation (NYSE:TRP)

Financial Counselors Inc. increased its stake in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 22.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 247,119 shares of the pipeline company's stock after acquiring an additional 45,154 shares during the period. Financial Counselors Inc.'s holdings in TC Energy were worth $11,666,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Lowe Wealth Advisors LLC acquired a new stake in shares of TC Energy in the first quarter worth approximately $30,000. SBI Securities Co. Ltd. acquired a new stake in shares of TC Energy in the fourth quarter worth approximately $31,000. Millstone Evans Group LLC acquired a new stake in shares of TC Energy in the fourth quarter worth approximately $41,000. Golden State Wealth Management LLC boosted its position in shares of TC Energy by 222.2% in 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 during the last quarter. Finally, HM Payson & Co. acquired a new position in TC Energy during the first quarter valued at approximately $60,000. 83.13% of the stock is owned by institutional investors and hedge funds.

TC Energy Price Performance

NYSE TRP traded up $0.06 on Friday, reaching $47.32. The company's stock had a trading volume of 2,810,431 shares, compared to its average volume of 2,464,210. TC Energy Corporation has a twelve month low of $38.90 and a twelve 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 $49.21 billion, a PE ratio of 15.62, a PEG ratio of 4.51 and a beta of 0.76. The firm's 50 day moving average is $49.13 and its two-hundred day moving average is $47.77.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its quarterly earnings results on Thursday, May 1st. The pipeline company reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates of $0.70 by ($0.04). TC Energy had a net margin of 29.17% and a return on equity of 11.41%. The business had revenue of $1.78 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same period in the previous year, the company posted $1.02 earnings per share. As a group, sell-side 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. Shareholders of record on Monday, June 30th will be issued 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 yield of 5.19%. TC Energy's payout ratio is presently 82.51%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. CIBC raised shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a research report on Friday, May 2nd. 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, Citigroup assumed coverage on shares of TC Energy in a research report on Friday, April 4th. They set a "neutral" rating on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target 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.