Penserra Capital Management LLC Buys 9,240 Shares of TC Energy Corporation (NYSE:TRP)

Penserra Capital Management LLC raised its position in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 10,620.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 9,327 shares of the pipeline company's stock after purchasing an additional 9,240 shares during the period. Penserra Capital Management LLC's holdings in TC Energy were worth $440,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of TRP. Lowe Wealth Advisors LLC acquired a new position in TC Energy in the first quarter valued at $30,000. SBI Securities Co. Ltd. bought a new position in shares of TC Energy in the 4th quarter worth about $31,000. Millstone Evans Group LLC acquired a new position in shares of TC Energy in the 4th quarter valued at about $41,000. Golden State Wealth Management LLC lifted its stake in shares of TC Energy by 222.2% in the 1st quarter. Golden State Wealth Management LLC now owns 1,076 shares of the pipeline company's stock valued at $51,000 after purchasing an additional 742 shares during the period. Finally, HM Payson & Co. acquired a new stake in TC Energy during the first quarter worth approximately $60,000. 83.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Cibc World Mkts raised TC Energy from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 2nd. CIBC upgraded shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a research report on Friday, May 2nd. Finally, Citigroup assumed coverage on shares of TC Energy in a report on Friday, April 4th. They issued a "neutral" rating for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $62.00.

TC Energy Stock Up 0.1%

Shares of NYSE:TRP traded up $0.06 during mid-day trading on Friday, hitting $47.32. 2,810,431 shares of the company traded hands, compared to its average volume of 3,248,721. TC Energy Corporation has a 12-month low of $38.90 and a 12-month high of $51.99. 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 50-day moving average price of $49.20 and a two-hundred day moving average price of $47.77. The stock has a market cap of $49.21 billion, a P/E ratio of 16.52, a P/E/G ratio of 4.51 and a beta of 0.76.

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). 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 the consensus estimate of $2.57 billion. During the same quarter in the previous year, the company posted $1.02 EPS. On average, equities research analysts forecast that TC Energy Corporation will post 2.63 earnings per share for the current year.

TC Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a $0.6142 dividend. The ex-dividend date is Monday, June 30th. This represents a $2.46 annualized dividend and a dividend yield of 5.19%. TC Energy's payout ratio is 82.51%.

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.