TD Private Client Wealth LLC decreased its holdings in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 13.9% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 55,516 shares of the pipeline company's stock after selling 8,963 shares during the period. TD Private Client Wealth LLC's holdings in TC Energy were worth $2,622,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of TRP. SBI Securities Co. Ltd. purchased a new stake in TC Energy in the fourth quarter valued at approximately $31,000. Steward Partners Investment Advisory LLC raised its stake in shares of TC Energy by 108.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,718 shares of the pipeline company's stock worth $220,000 after buying an additional 2,454 shares during the period. Aigen Investment Management LP acquired a new position in shares of TC Energy during the 4th quarter worth approximately $240,000. Raymond James Financial Inc. acquired a new position in TC Energy in the 4th quarter valued at $75,464,000. Finally, Candriam S.C.A. raised its stake in TC Energy by 16.6% in the 4th quarter. Candriam S.C.A. now owns 9,088 shares of the pipeline company's stock valued at $423,000 after purchasing an additional 1,295 shares during the last quarter. Hedge funds and other institutional investors own 83.13% of the company's stock.
TC Energy Price Performance
TRP opened at $47.39 on Tuesday. The stock's 50-day moving average price is $49.39 and its 200 day moving average price is $47.77. TC Energy Corporation has a 12-month low of $37.07 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 firm has a market cap of $49.28 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 4.60 and a beta of 0.76.
TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its earnings results 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). TC Energy had a return on equity of 11.41% and a net margin of 29.17%. The firm had revenue of $1.78 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same period in the previous year, the company posted $1.02 EPS. As a group, sell-side analysts expect that TC Energy Corporation will post 2.63 earnings per share for the current year.
TC Energy Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a $0.6142 dividend. This represents a $2.46 dividend on an annualized basis and a yield of 5.18%. The ex-dividend date is Monday, June 30th. TC Energy's dividend payout ratio is currently 82.51%.
Analysts Set New Price Targets
Several analysts have issued reports on TRP shares. Citigroup assumed coverage on TC Energy in a report on Friday, April 4th. They issued a "neutral" rating for the company. CIBC upgraded TC Energy from a "neutral" rating to a "sector outperform" rating in a report on Friday, May 2nd. Finally, Cibc World Mkts upgraded TC Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $62.00.
Check Out Our Latest Stock Analysis on TC Energy
TC Energy Company Profile
(
Free Report)
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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