Lindbrook Capital LLC decreased its holdings in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 37.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 23,885 shares of the pipeline company's stock after selling 14,278 shares during the period. Lindbrook Capital LLC's holdings in TC Energy were worth $1,128,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. IFP Advisors Inc lifted its holdings in TC Energy by 1,083.1% during the 1st quarter. IFP Advisors Inc now owns 45,065 shares of the pipeline company's stock worth $2,128,000 after buying an additional 41,256 shares during the last quarter. Kestra Private Wealth Services LLC purchased a new stake in TC Energy during the first quarter valued at about $689,000. Jennison Associates LLC boosted its position in shares of TC Energy by 59.1% in the first quarter. Jennison Associates LLC now owns 772,037 shares of the pipeline company's stock worth $36,474,000 after buying an additional 286,850 shares during the period. Tectonic Advisors LLC boosted its stake in shares of TC Energy by 16.5% during the 1st quarter. Tectonic Advisors LLC now owns 12,421 shares of the pipeline company's stock valued at $586,000 after buying an additional 1,761 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings in TC Energy by 225.9% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,597 shares of the pipeline company's stock valued at $75,000 after buying an additional 1,107 shares during the last quarter. Institutional investors and hedge funds own 83.13% of the company's stock.
TC Energy Stock Performance
Shares of TRP opened at $47.74 on Friday. 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 has a 50-day moving average of $48.93 and a two-hundred day moving average of $47.84. The stock has a market cap of $49.65 billion, a P/E ratio of 15.76, a PEG ratio of 4.59 and a beta of 0.76. TC Energy Corporation has a 12-month low of $40.95 and a 12-month high of $51.99.
TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its earnings results on Thursday, May 1st. The pipeline company reported $0.66 earnings per share 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 business 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 firm earned $1.02 EPS. As a group, research analysts predict that TC Energy Corporation will post 2.63 EPS 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. Stockholders of record on Monday, June 30th will be given 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 5.15%. TC Energy's dividend payout ratio is 82.18%.
Wall Street Analysts Forecast Growth
TRP has been the topic of several recent research reports. Cibc World Mkts raised TC Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, May 2nd. CIBC upgraded shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a report on Friday, May 2nd. Finally, Citigroup initiated coverage on TC Energy in a research note on Friday, April 4th. They set a "neutral" rating on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $62.00.
Check Out Our Latest Research Report on TC Energy
TC Energy Company Profile
(
Free Report)
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.
Further Reading
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