Wealth Alliance LLC Trims Stock Position in TC Energy Corporation (NYSE:TRP)

Wealth Alliance LLC trimmed its holdings in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 24.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,447 shares of the pipeline company's stock after selling 6,234 shares during the period. Wealth Alliance LLC's holdings in TC Energy were worth $918,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in TRP. Lowe Wealth Advisors LLC acquired a new stake in shares of TC Energy during the first quarter worth $30,000. Millstone Evans Group LLC acquired a new stake in TC Energy during the fourth quarter worth approximately $41,000. TruNorth Capital Management LLC bought a new stake in TC Energy during the first quarter worth $45,000. Golden State Wealth Management LLC lifted its stake in TC Energy by 222.2% during the first quarter. Golden State Wealth Management LLC now owns 1,076 shares of the pipeline company's stock worth $51,000 after purchasing an additional 742 shares during the last quarter. Finally, SBI Securities Co. Ltd. lifted its stake in shares of TC Energy by 75.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,166 shares of the pipeline company's stock valued at $55,000 after acquiring an additional 501 shares during the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

TC Energy Stock Performance

Shares of NYSE:TRP traded up $0.50 on Tuesday, hitting $47.93. 1,105,303 shares of the company were exchanged, compared to its average volume of 2,449,579. The company's 50 day moving average price is $48.93 and its two-hundred day moving average price is $47.85. TC Energy Corporation has a one year low of $40.95 and a one year high of $51.99. 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 firm has a market capitalization of $49.84 billion, a price-to-earnings ratio of 15.82, a PEG ratio of 4.60 and a beta of 0.76.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its earnings results on Thursday, May 1st. The pipeline company reported $0.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.70 by ($0.04). TC Energy had a return on equity of 11.41% and a net margin of 29.17%. The company had revenue of $1.78 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same quarter in the previous year, the company posted $1.02 earnings per share. Research analysts expect 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. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.46 dividend on an annualized basis and a yield of 5.13%. TC Energy's dividend payout ratio (DPR) is 82.51%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Cibc World Mkts upgraded shares of TC Energy from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 2nd. CIBC raised shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a research note on Friday, May 2nd. Finally, Citigroup assumed coverage on shares of TC Energy in a research note on Friday, April 4th. They set a "neutral" rating for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target 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.