Triasima Portfolio Management inc. Trims Holdings in TC Energy Corporation $TRP

Key Points

• Triasima Portfolio Management inc. reduced its holdings in TC Energy Corporation by 47.4% during Q2, selling 94,145 shares and now holding 104,481 shares valued at approximately $5,090,000.
• TC Energy recently declared a quarterly dividend of $0.6148 per share, a slight increase from the previous dividend, with an annual yield of 4.5%.
• Analysts have mixed views on TC Energy, with some upgrades and downgrades, leading to an average rating of "Moderate Buy" and a consensus price target of $62.00.

Triasima Portfolio Management inc. decreased its holdings in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 47.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 104,481 shares of the pipeline company's stock after selling 94,145 shares during the quarter. Triasima Portfolio Management inc.'s holdings in TC Energy were worth $5,090,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Park Avenue Securities LLC raised its position in TC Energy by 2.3% in the 2nd quarter. Park Avenue Securities LLC now owns 9,947 shares of the pipeline company's stock valued at $485,000 after purchasing an additional 225 shares during the last quarter. Gold Investment Management Ltd. increased its stake in TC Energy by 2.5% in the 2nd quarter. Gold Investment Management Ltd. now owns 9,656 shares of the pipeline company's stock valued at $471,000 after buying an additional 232 shares during the period. Baader Bank Aktiengesellschaft increased its stake in TC Energy by 4.4% in the 1st quarter. Baader Bank Aktiengesellschaft now owns 6,325 shares of the pipeline company's stock valued at $289,000 after buying an additional 264 shares during the period. Compound Planning Inc. increased its stake in TC Energy by 2.1% in the 1st quarter. Compound Planning Inc. now owns 13,806 shares of the pipeline company's stock valued at $652,000 after buying an additional 288 shares during the period. Finally, Prudential PLC increased its stake in TC Energy by 5.2% in the 1st quarter. Prudential PLC now owns 6,536 shares of the pipeline company's stock valued at $309,000 after buying an additional 326 shares during the period. Hedge funds and other institutional investors own 83.13% of the company's stock.

TC Energy Stock Performance

NYSE:TRP opened at $54.67 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.54. TC Energy Corporation has a fifty-two week low of $43.51 and a fifty-two week high of $55.37. The stock has a market cap of $56.87 billion, a PE ratio of 18.66, a price-to-earnings-growth ratio of 5.22 and a beta of 0.75. The firm's fifty day simple moving average is $51.68 and its 200-day simple moving average is $49.70.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its quarterly earnings results on Thursday, July 31st. The pipeline company reported $0.59 earnings per share for the quarter, topping analysts' consensus estimates of $0.56 by $0.03. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. The business had revenue of $1.82 billion for the quarter, compared to analysts' expectations of $2.56 billion. During the same period in the prior year, the company posted $0.79 EPS. Analysts expect that TC Energy Corporation will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be paid a dividend of $0.6148 per share. This is a boost from TC Energy's previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Monday, September 29th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 4.5%. TC Energy's dividend payout ratio is currently 84.30%.

Analyst Upgrades and Downgrades

TRP has been the topic of several recent research reports. Wall Street Zen cut shares of TC Energy from a "hold" rating to a "sell" rating in a research note on Friday, October 3rd. Weiss Ratings reissued a "buy (b-)" rating on shares of TC Energy in a research note on Saturday, September 27th. Barclays reissued an "overweight" rating on shares of TC Energy in a research note on Thursday, August 14th. Finally, US Capital Advisors cut shares of TC Energy from a "moderate buy" rating to a "hold" rating in a research note on Thursday, August 21st. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, 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.

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