K.J. Harrison & Partners Inc Sells 89,600 Shares of TC Energy Corporation (NYSE:TRP)

K.J. Harrison & Partners Inc reduced its stake in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 35.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 166,061 shares of the pipeline company's stock after selling 89,600 shares during the period. TC Energy makes up about 1.5% of K.J. Harrison & Partners Inc's holdings, making the stock its 15th largest holding. K.J. Harrison & Partners Inc's holdings in TC Energy were worth $7,850,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC grew its holdings in TC Energy by 5.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 231,297 shares of the pipeline company's stock valued at $11,056,000 after buying an additional 11,322 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its position in shares of TC Energy by 10.1% in the first quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,559,786 shares of the pipeline company's stock valued at $73,637,000 after acquiring an additional 143,462 shares during the period. Achmea Investment Management B.V. grew its stake in TC Energy by 4.8% during the first quarter. Achmea Investment Management B.V. now owns 449,070 shares of the pipeline company's stock valued at $21,204,000 after acquiring an additional 20,378 shares in the last quarter. Quaero Capital S.A. increased its holdings in TC Energy by 10.3% during the 1st quarter. Quaero Capital S.A. now owns 28,965 shares of the pipeline company's stock worth $1,368,000 after acquiring an additional 2,705 shares during the period. Finally, Sequoia Financial Advisors LLC increased its holdings in TC Energy by 13.4% during the 1st quarter. Sequoia Financial Advisors LLC now owns 11,539 shares of the pipeline company's stock worth $545,000 after acquiring an additional 1,362 shares during the period. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

TC Energy Stock Performance

NYSE TRP traded up $0.07 during trading hours on Wednesday, hitting $47.95. The company's stock had a trading volume of 4,711,730 shares, compared to its average volume of 2,466,607. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.70 and a quick ratio of 0.63. The company has a market cap of $49.87 billion, a P/E ratio of 15.83, a price-to-earnings-growth ratio of 4.66 and a beta of 0.76. The company's 50 day simple moving average is $49.52 and its two-hundred day simple moving average is $47.69. 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 released its quarterly earnings data 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 analysts' expectations of $2.57 billion. During the same period in the previous year, the firm earned $1.02 earnings per share. As a group, sell-side analysts expect that TC Energy Corporation 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 paid a dividend of $0.6142 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 5.12%. TC Energy's dividend payout ratio is currently 81.52%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on TRP shares. Wall Street Zen downgraded shares of TC Energy from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. CIBC upgraded TC Energy from a "neutral" rating to a "sector outperform" rating in a research report on Friday, May 2nd. Citigroup started coverage on TC Energy in a research report on Friday, April 4th. They set a "neutral" rating on the stock. Finally, Cibc World Mkts raised TC Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, three have given 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, the company presently has an average rating of "Moderate Buy" and a consensus price target 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.