Exchange Traded Concepts LLC Has $52.71 Million Stock Position in TC Energy Corporation (NYSE:TRP)

Exchange Traded Concepts LLC raised its stake in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 7.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,116,535 shares of the pipeline company's stock after acquiring an additional 81,837 shares during the quarter. TC Energy makes up 0.9% of Exchange Traded Concepts LLC's portfolio, making the stock its 24th biggest position. Exchange Traded Concepts LLC owned 0.11% of TC Energy worth $52,712,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the stock. NTV Asset Management LLC raised its stake in shares of TC Energy by 4.0% in the 4th quarter. NTV Asset Management LLC now owns 6,189 shares of the pipeline company's stock valued at $288,000 after purchasing an additional 239 shares in the last quarter. Lee Financial Co increased its stake in shares of TC Energy by 3.1% during the fourth quarter. Lee Financial Co now owns 8,185 shares of the pipeline company's stock valued at $381,000 after acquiring an additional 246 shares during the period. IFP Advisors Inc increased its stake in shares of TC Energy by 7.0% during the fourth quarter. IFP Advisors Inc now owns 3,809 shares of the pipeline company's stock valued at $177,000 after acquiring an additional 249 shares during the period. Benjamin Edwards Inc. raised its holdings in TC Energy by 1.7% during the fourth quarter. Benjamin Edwards Inc. now owns 16,003 shares of the pipeline company's stock worth $745,000 after purchasing an additional 273 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its position in TC Energy by 7.2% in the fourth quarter. Global Retirement Partners LLC now owns 4,099 shares of the pipeline company's stock worth $191,000 after purchasing an additional 274 shares during the period. 83.13% of the stock is currently owned by institutional investors.

TC Energy Trading Down 1.2%

TRP traded down $0.56 during trading on Wednesday, reaching $47.75. The company had a trading volume of 3,350,788 shares, compared to its average volume of 2,328,406. The firm's 50-day simple moving average is $49.57 and its 200 day simple moving average is $47.69. 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 company has a market cap of $49.64 billion, a price-to-earnings ratio of 15.76, a PEG ratio of 4.73 and a beta of 0.78. TC Energy Corporation has a 12-month low of $33.76 and a 12-month high of $51.99.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its earnings results on Thursday, May 1st. The pipeline company reported $0.66 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 business earned $1.02 earnings per share. Equities research analysts anticipate that TC Energy Corporation will post 2.63 earnings per share for the current year.

TC Energy Cuts Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TRP. Veritas upgraded TC Energy from a "strong sell" rating to a "strong-buy" rating in a research report on Tuesday, February 18th. 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. Wall Street Zen downgraded shares of TC Energy from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Finally, Citigroup initiated coverage on shares of TC Energy in a research note on Friday, April 4th. They issued a "neutral" rating on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, TC Energy has an average rating of "Moderate Buy" and a consensus target price of $62.00.

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.