Heathbridge Capital Management Ltd. Decreases Stake in TC Energy Corporation (NYSE:TRP)

Heathbridge Capital Management Ltd. lowered its position in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 1.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 409,100 shares of the pipeline company's stock after selling 6,962 shares during the period. TC Energy comprises 7.9% of Heathbridge Capital Management Ltd.'s holdings, making the stock its 3rd largest position. Heathbridge Capital Management Ltd.'s holdings in TC Energy were worth $19,339,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Lowe Wealth Advisors LLC bought a new position in TC Energy during the 1st quarter worth about $30,000. Millstone Evans Group LLC acquired a new stake in TC Energy in the 4th quarter valued at about $41,000. TruNorth Capital Management LLC acquired a new stake in TC Energy during the first quarter worth approximately $45,000. Golden State Wealth Management LLC increased its holdings 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 purchasing an additional 742 shares during the period. Finally, SBI Securities Co. Ltd. increased its holdings in shares of TC Energy by 75.3% during 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. Institutional investors own 83.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on TRP shares. Cibc World Mkts raised shares of TC Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, May 2nd. CIBC raised shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a report on Friday, May 2nd. Finally, Citigroup assumed coverage on shares of TC Energy in a research note on Friday, April 4th. They issued a "neutral" rating on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $62.00.

TC Energy Price Performance

NYSE:TRP traded down $0.16 during mid-day trading on Wednesday, reaching $48.44. The stock had a trading volume of 4,503,718 shares, compared to its average volume of 2,465,922. The stock has a 50-day simple moving average of $49.04 and a two-hundred day simple moving average of $47.82. The stock has a market capitalization of $50.37 billion, a PE ratio of 15.99, a P/E/G ratio of 4.62 and a beta of 0.76. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.70 and a quick ratio of 0.63. TC Energy Corporation has a 12 month low of $39.85 and a 12 month high of $51.99.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its 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). The company had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $2.57 billion. TC Energy had a return on equity of 11.41% and a net margin of 29.17%. During the same period in the previous year, the firm posted $1.02 EPS. On average, equities 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 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. The ex-dividend date is Monday, June 30th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 5.07%. TC Energy's payout ratio is presently 82.18%.

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.