GAMMA Investing LLC Raises Stock Holdings in TC Energy Corporation (NYSE:TRP)

GAMMA Investing LLC lifted its position in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 4,621.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,657 shares of the pipeline company's stock after acquiring an additional 6,516 shares during the period. GAMMA Investing LLC's holdings in TC Energy were worth $314,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TRP. SBI Securities Co. Ltd. purchased a new position in shares of TC Energy in the fourth quarter worth $31,000. Synergy Investment Management LLC purchased a new position in TC Energy in the 4th quarter worth about $36,000. Millstone Evans Group LLC purchased a new position in TC Energy in the 4th quarter worth about $41,000. First Command Advisory Services Inc. bought a new position in TC Energy during the 4th quarter valued at about $46,000. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of TC Energy by 67.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,658 shares of the pipeline company's stock valued at $77,000 after acquiring an additional 666 shares during the last quarter. 83.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of TC Energy from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. 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. Citigroup started coverage on TC Energy in a research note on Friday, April 4th. They issued a "neutral" rating on the stock. Finally, CIBC upgraded TC Energy from a "neutral" rating to a "sector outperform" rating in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, TC Energy currently has an average rating of "Moderate Buy" and an average target price of $62.00.

TC Energy Price Performance

Shares of TRP traded down $0.03 during trading hours on Tuesday, reaching $47.21. 2,153,626 shares of the stock traded hands, compared to its average volume of 2,486,748. The company has a market cap of $49.08 billion, a P/E ratio of 15.58, a price-to-earnings-growth ratio of 4.56 and a beta of 0.78. 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 company's 50-day moving average price is $49.64 and its two-hundred day moving average price is $47.65. TC Energy Corporation has a 52-week low of $37.07 and a 52-week high of $51.99.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its quarterly earnings data 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 company had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter in the previous year, the business earned $1.02 EPS. On average, analysts anticipate that TC Energy Corporation will post 2.63 earnings per share 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. This represents a $2.46 annualized dividend and a dividend yield of 5.20%. The ex-dividend date is Monday, June 30th. TC Energy's dividend payout ratio (DPR) is presently 81.52%.

About TC Energy

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.