Park Avenue Securities LLC Has $459,000 Stake in TC Energy Co. (NYSE:TRP)

Park Avenue Securities LLC lowered its stake in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 46.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). 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 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. BROOKFIELD Corp ON boosted its holdings in TC Energy by 31.6% in the fourth quarter. BROOKFIELD Corp ON now owns 1,890,168 shares of the pipeline company's stock valued at $87,950,000 after acquiring an additional 454,011 shares during the last quarter. O Shaughnessy Asset Management LLC raised 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 worth $10,463,000 after buying an additional 16,334 shares during the last quarter. AXA S.A. lifted its holdings in TC Energy by 28.4% in the fourth quarter. AXA S.A. now owns 142,095 shares of the pipeline company's stock valued at $6,612,000 after buying an additional 31,441 shares during the period. Cinctive Capital Management LP boosted its stake in TC Energy by 12.3% in the fourth quarter. Cinctive Capital Management LP now owns 194,133 shares of the pipeline company's stock valued at $9,042,000 after acquiring an additional 21,243 shares during the last quarter. Finally, Guardian Partners Inc. bought a new position in TC Energy in the fourth quarter valued at approximately $8,614,000. Institutional investors and hedge funds own 83.13% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on TRP shares. Veritas raised TC Energy from a "strong sell" rating to a "strong-buy" rating in a research note on Tuesday, February 18th. Citigroup started coverage on shares of TC Energy in a research note on Friday, April 4th. They set a "neutral" rating on the stock. CIBC upgraded shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a report on Friday, May 2nd. Cibc World Mkts raised shares of TC Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, May 2nd. Finally, Royal Bank of Canada upped their price objective on shares of TC Energy from $71.00 to $74.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, TC Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $62.00.

TC Energy Trading Down 1.0%

Shares of NYSE:TRP opened at $49.54 on Friday. The stock has a market capitalization of $51.50 billion, a PE ratio of 15.29, a price-to-earnings-growth ratio of 4.34 and a beta of 0.78. The company's 50-day moving average price is $49.44 and its two-hundred day moving average price is $47.69. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23. TC Energy Co. has a one year low of $37.07 and a one year high of $51.99.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its quarterly 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). The company had revenue of $1.78 billion for the quarter, compared to analyst estimates of $2.57 billion. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. During the same period last year, the firm earned $1.02 EPS. On average, equities analysts forecast that TC Energy Co. will post 2.63 EPS for the current fiscal year.

TC Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a dividend of $0.6142 per share. This represents a $2.46 annualized dividend and a yield of 4.96%. The ex-dividend date is Monday, June 30th. TC Energy's dividend payout ratio (DPR) is currently 81.52%.

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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