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

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

A number of other institutional investors and hedge funds also recently made changes to their positions in TRP. Lowe Wealth Advisors LLC bought a new position in shares of TC Energy in the first quarter valued at about $30,000. SBI Securities Co. Ltd. bought a new position in TC Energy in the 4th quarter valued at about $31,000. Millstone Evans Group LLC acquired a new stake in TC Energy during the fourth quarter worth approximately $41,000. Golden State Wealth Management LLC grew 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 valued at $51,000 after purchasing an additional 742 shares during the last quarter. Finally, HM Payson & Co. acquired a new position in shares of TC Energy in the first quarter valued at approximately $60,000. Institutional investors own 83.13% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on TRP. Cibc World Mkts raised TC Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, May 2nd. Citigroup started coverage on shares of TC Energy in a research note on Friday, April 4th. They issued a "neutral" rating for the company. 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 issued a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $62.00.

TC Energy Price Performance

Shares of NYSE TRP traded down $0.58 during trading hours on Wednesday, hitting $46.63. 3,389,808 shares of the stock were exchanged, compared to its average volume of 2,459,455. TC Energy Corporation has a 1-year low of $37.41 and a 1-year high of $51.99. The company has a market cap of $48.49 billion, a PE ratio of 15.39, a price-to-earnings-growth ratio of 4.50 and a beta of 0.76. 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 company's fifty day simple moving average is $49.34 and its two-hundred day simple 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 (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 business had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter in the previous year, the business posted $1.02 EPS. On average, sell-side analysts predict that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a dividend of $0.6142 per share. This represents a $2.46 annualized dividend and a yield of 5.27%. The ex-dividend date of this dividend is Monday, June 30th. TC Energy's payout ratio is 82.51%.

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.