TC Energy Corporation (NYSE:TRP) Shares Sold by K.J. Harrison & Partners Inc

K.J. Harrison & Partners Inc lowered its holdings in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 35.0% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 166,061 shares of the pipeline company's stock after selling 89,600 shares during the period. TC Energy makes up 1.5% of K.J. Harrison & Partners Inc's holdings, making the stock its 15th biggest holding. K.J. Harrison & Partners Inc's holdings in TC Energy were worth $7,850,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. IFP Advisors Inc raised its position in TC Energy by 7.0% during the 4th quarter. IFP Advisors Inc now owns 3,809 shares of the pipeline company's stock worth $177,000 after buying an additional 249 shares during the last quarter. Benjamin Edwards Inc. grew its stake in TC Energy by 1.7% in the 4th quarter. Benjamin Edwards Inc. now owns 16,003 shares of the pipeline company's stock valued at $745,000 after acquiring an additional 273 shares during the last quarter. Mesirow Financial Investment Management Inc. grew its stake in TC Energy by 4.1% in the 4th quarter. Mesirow Financial Investment Management Inc. now owns 9,554 shares of the pipeline company's stock valued at $445,000 after acquiring an additional 379 shares during the last quarter. Orion Portfolio Solutions LLC grew its stake in TC Energy by 6.9% in the 4th quarter. Orion Portfolio Solutions LLC now owns 7,764 shares of the pipeline company's stock valued at $361,000 after acquiring an additional 502 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in TC Energy by 10.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 5,468 shares of the pipeline company's stock valued at $269,000 after acquiring an additional 504 shares during the last quarter. Institutional investors and hedge funds own 83.13% of the company's stock.

TC Energy Stock Performance

Shares of TRP opened at $49.01 on Friday. The company's fifty day moving average is $49.54 and its 200-day moving average is $47.67. TC Energy Corporation has a 12 month low of $37.07 and a 12 month high of $51.99. The firm has a market cap of $50.97 billion, a price-to-earnings ratio of 16.18, a price-to-earnings-growth ratio of 4.67 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 (NYSE:TRP - Get Free Report) TSE: TRP last issued its quarterly earnings results on Thursday, May 1st. The pipeline company reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates of $0.70 by ($0.04). The company had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $2.57 billion. TC Energy had a net margin of 29.17% and a return on equity of 11.41%. During the same period last year, the company earned $1.02 earnings per share. Equities analysts expect that TC Energy Corporation will post 2.63 EPS for the current fiscal 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 issued a dividend of $0.6142 per share. This represents a $2.46 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date is Monday, June 30th. TC Energy's dividend payout ratio is currently 77.89%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. 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 raised shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a research report on Friday, May 2nd. Cibc World Mkts raised shares of TC Energy from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 2nd. Finally, Wall Street Zen downgraded shares of TC Energy from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, TC Energy has a consensus rating of "Moderate Buy" and an average target price of $62.00.

About TC Energy

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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