Janney Montgomery Scott LLC Cuts Stock Holdings in TC Energy Corporation (NYSE:TRP)

Janney Montgomery Scott LLC reduced its stake in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 9.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 70,144 shares of the pipeline company's stock after selling 7,111 shares during the quarter. Janney Montgomery Scott LLC's holdings in TC Energy were worth $3,312,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of TRP. BROOKFIELD Corp ON grew its position in TC Energy by 31.6% during the 4th quarter. BROOKFIELD Corp ON now owns 1,890,168 shares of the pipeline company's stock worth $87,950,000 after acquiring an additional 454,011 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its stake in shares of TC Energy by 7.8% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 224,829 shares of the pipeline company's stock valued at $10,463,000 after purchasing an additional 16,334 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of TC Energy by 77.7% during the first quarter. Farther Finance Advisors LLC now owns 2,299 shares of the pipeline company's stock valued at $110,000 after purchasing an additional 1,005 shares during the period. AXA S.A. grew its holdings in shares of TC Energy by 28.4% in the fourth quarter. AXA S.A. now owns 142,095 shares of the pipeline company's stock worth $6,612,000 after purchasing an additional 31,441 shares during the last quarter. Finally, Cinctive Capital Management LP increased its stake in shares of TC Energy by 12.3% in the fourth quarter. Cinctive Capital Management LP now owns 194,133 shares of the pipeline company's stock worth $9,042,000 after buying an additional 21,243 shares during the period. Hedge funds and other institutional investors own 83.13% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on TRP. Citigroup initiated coverage on shares of TC Energy in a research report on Friday, April 4th. They set a "neutral" rating for the company. Cibc World Mkts upgraded shares of TC Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, May 2nd. CIBC raised TC Energy from a "neutral" rating to a "sector outperform" rating in a research note on Friday, May 2nd. Finally, Wall Street Zen downgraded TC Energy from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, three have given 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 company has a consensus rating of "Moderate Buy" and an average price target of $62.00.

TC Energy Stock Down 0.1%

TRP stock opened at $47.21 on Wednesday. The company has a market capitalization of $49.09 billion, a price-to-earnings ratio of 15.58, a price-to-earnings-growth ratio of 4.54 and a beta of 0.78. 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 business's 50 day moving average price is $49.61 and its two-hundred day moving average price is $47.65. TC Energy Corporation has a fifty-two week low of $37.07 and a fifty-two week high of $51.99.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its quarterly earnings data on Thursday, May 1st. The pipeline company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.04). The firm had revenue of $1.78 billion for the quarter, compared to analysts' expectations of $2.57 billion. TC Energy had a net margin of 29.17% and a return on equity of 11.41%. During the same period in the prior year, the business posted $1.02 EPS. As a group, analysts forecast that TC Energy Corporation will post 2.63 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The firm 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 $0.6142 dividend. This represents a $2.46 dividend on an annualized basis and a yield of 5.20%. The ex-dividend date is Monday, June 30th. TC Energy's dividend payout ratio (DPR) 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.

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