GAMMA Investing LLC Purchases 6,516 Shares of TC Energy Corporation (NYSE:TRP)

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

Other institutional investors and hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc boosted its holdings in TC Energy by 248.6% in the first quarter. Versant Capital Management Inc now owns 2,475 shares of the pipeline company's stock worth $117,000 after acquiring an additional 1,765 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in TC Energy by 21.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 56,590 shares of the pipeline company's stock worth $2,672,000 after acquiring an additional 9,905 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in TC Energy by 23.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 21,066 shares of the pipeline company's stock worth $980,000 after acquiring an additional 4,033 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ bought a new position in TC Energy in the fourth quarter worth approximately $10,436,000. Finally, Value Partners Investments Inc. bought a new position in TC Energy in the fourth quarter worth approximately $245,000. Institutional investors own 83.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Wall Street Zen lowered TC Energy from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Cibc World Mkts upgraded TC Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, May 2nd. CIBC upgraded TC Energy from a "neutral" rating to a "sector outperform" rating in a report on Friday, May 2nd. Finally, Citigroup assumed coverage on TC Energy in a report on Friday, April 4th. They issued a "neutral" rating on the stock. 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 given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $62.00.

TC Energy Stock Performance

Shares of TRP traded down $0.35 on Friday, reaching $47.40. 2,255,203 shares of the company's stock traded hands, compared to its average volume of 2,475,426. 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 has a market cap of $49.28 billion, a PE ratio of 15.64, a PEG ratio of 4.59 and a beta of 0.78. The stock's 50 day simple moving average is $49.65 and its two-hundred day simple moving average is $47.68. 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 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). The firm had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $2.57 billion. TC Energy had a net margin of 29.17% and a return on equity of 11.41%. During the same quarter in the previous year, the firm earned $1.02 earnings per share. On average, analysts forecast that TC Energy Corporation will post 2.63 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The company 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 $0.6142 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.46 annualized dividend and a dividend yield of 5.18%. TC Energy's payout ratio is presently 77.89%.

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.