Souders Financial Advisors Trims Stock Position in TC Energy Corporation (NYSE:TRP)

Souders Financial Advisors reduced its position in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 46.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,011 shares of the pipeline company's stock after selling 28,037 shares during the period. Souders Financial Advisors' holdings in TC Energy were worth $1,511,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Lowe Wealth Advisors LLC purchased a new stake in shares of TC Energy in the first quarter worth approximately $30,000. Millstone Evans Group LLC bought a new position in TC Energy in the fourth quarter worth approximately $41,000. TruNorth Capital Management LLC bought a new position in TC Energy in the first quarter worth approximately $45,000. Golden State Wealth Management LLC grew its stake in 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 purchasing an additional 742 shares in the last quarter. Finally, SBI Securities Co. Ltd. grew its stake in 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 purchasing an additional 501 shares in the last quarter. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on TRP shares. Cibc World Mkts raised TC Energy from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 2nd. Citigroup assumed coverage on TC Energy in a research report on Friday, April 4th. They set a "neutral" rating on the stock. Finally, CIBC upgraded 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 given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $62.00.

TC Energy Stock Performance

TRP stock traded up $0.09 during midday trading on Wednesday, reaching $48.05. The stock had a trading volume of 389,925 shares, compared to its average volume of 2,442,228. The stock has a market cap of $49.97 billion, a PE ratio of 15.86, a P/E/G ratio of 4.57 and a beta of 0.76. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.63 and a current ratio of 0.70. The firm has a fifty day simple moving average of $48.93 and a two-hundred day simple moving average of $47.85. TC Energy Corporation has a 52-week low of $41.08 and a 52-week high of $51.99.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its quarterly earnings data on Thursday, May 1st. The pipeline company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.04). The firm had revenue of $1.78 billion during the quarter, compared to analyst estimates of $2.57 billion. TC Energy had a return on equity of 11.41% and a net margin of 29.17%. During the same quarter in the previous year, the firm posted $1.02 earnings per share. As a group, equities research analysts anticipate that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a dividend of $0.6142 per share. This represents a $2.46 annualized dividend and a dividend yield of 5.11%. The ex-dividend date is Monday, June 30th. TC Energy's dividend payout ratio is currently 82.18%.

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.