Park Avenue Securities LLC Has $459,000 Stock Holdings in TC Energy Corporation (NYSE:TRP)

Park Avenue Securities LLC reduced its position in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 46.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,722 shares of the pipeline company's stock after selling 8,553 shares during the period. Park Avenue Securities LLC's holdings in TC Energy were worth $459,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Lowe Wealth Advisors LLC acquired a new position in shares of TC Energy during the first quarter worth $30,000. SBI Securities Co. Ltd. acquired a new position in shares of TC Energy during the fourth quarter worth $31,000. Synergy Investment Management LLC acquired a new position in shares of TC Energy during the fourth quarter worth $36,000. Millstone Evans Group LLC acquired a new position in shares of TC Energy during the fourth quarter worth $41,000. Finally, First Command Advisory Services Inc. acquired a new position in shares of TC Energy during the fourth quarter worth $46,000. 83.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on TRP. Wall Street Zen cut shares of TC Energy from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Royal Bank Of Canada upped their price target on shares of TC Energy from $71.00 to $74.00 and gave the company an "outperform" rating in a report on Tuesday, February 18th. CIBC raised shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a report on Friday, May 2nd. Citigroup began coverage on shares of TC Energy in a report on Friday, April 4th. They issued a "neutral" rating on the stock. Finally, Veritas raised shares of TC Energy from a "strong sell" rating to a "strong-buy" rating in a report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $62.00.

TC Energy Trading Down 1.2%

Shares of TC Energy stock traded down $0.56 during trading on Wednesday, hitting $47.75. The stock had a trading volume of 4,276,070 shares, compared to its average volume of 2,474,792. The stock has a 50 day simple moving average of $49.61 and a 200 day simple moving average of $47.69. The company has a market capitalization of $49.64 billion, a PE ratio of 15.76, a P/E/G ratio of 4.65 and a beta of 0.78. The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of 1.61. TC Energy Corporation has a 1 year low of $37.07 and a 1 year 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 analysts' consensus estimates of $0.70 by ($0.04). TC Energy had a net margin of 29.17% and a return on equity of 11.41%. The company had revenue of $1.78 billion for the quarter, compared to analysts' expectations of $2.57 billion. During the same period in the previous year, the firm posted $1.02 earnings per share. On average, research analysts expect that TC Energy Corporation will post 2.63 EPS for the current fiscal year.

TC Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be given a dividend of $0.6142 per share. This represents a $2.46 dividend on an annualized basis and a yield of 5.15%. The ex-dividend date of this dividend is Monday, June 30th. TC Energy's payout ratio is presently 77.89%.

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.