TC Energy Corporation (NYSE:TRP) Shares Sold by Lincluden Management Ltd.

Lincluden Management Ltd. lessened its position in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 4.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,012,280 shares of the pipeline company's stock after selling 42,127 shares during the quarter. TC Energy comprises 6.1% of Lincluden Management Ltd.'s investment portfolio, making the stock its 3rd biggest holding. Lincluden Management Ltd. owned about 0.10% of TC Energy worth $47,808,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of TRP. Lowe Wealth Advisors LLC purchased a new stake in shares of TC Energy in the first quarter valued at approximately $30,000. TruNorth Capital Management LLC acquired a new position in TC Energy during the first quarter worth $45,000. Golden State Wealth Management LLC raised its holdings 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 worth $51,000 after acquiring an additional 742 shares during the last quarter. SBI Securities Co. Ltd. raised its holdings in shares of TC Energy by 75.3% in the first quarter. SBI Securities Co. Ltd. now owns 1,166 shares of the pipeline company's stock worth $55,000 after acquiring an additional 501 shares during the last quarter. Finally, HM Payson & Co. acquired a new position in shares of TC Energy in the first quarter worth $60,000. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on TRP. Citigroup began coverage on TC Energy in a report on Friday, April 4th. They issued a "neutral" rating for the company. Cibc World Mkts raised TC Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, May 2nd. Finally, CIBC raised 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 assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $62.00.

TC Energy Trading Down 0.7%

NYSE:TRP traded down $0.33 on Friday, hitting $47.24. 1,062,272 shares of the stock were exchanged, compared to its average volume of 2,750,832. The stock has a market cap of $49.13 billion, a PE ratio of 15.59, a PEG ratio of 4.58 and a beta of 0.76. 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 fifty day moving average of $48.79 and a 200-day moving average of $47.85. TC Energy Corporation has a fifty-two week low of $37.41 and a fifty-two week high of $51.99.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its earnings results 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 company 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 quarter in the previous year, the business posted $1.02 earnings per share. As a group, equities analysts expect that TC Energy Corporation will post 2.63 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a dividend of $0.6142 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.46 annualized dividend and a dividend yield of 5.20%. TC Energy's payout ratio is currently 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.