Catalyst Capital Advisors LLC Trims Stake in TC Energy Corporation $TRP

Catalyst Capital Advisors LLC reduced its position in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 22.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 268,698 shares of the pipeline company’s stock after selling 77,590 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in TC Energy were worth $14,781,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in TC Energy in the 4th quarter worth about $583,732,000. Hillsdale Investment Management Inc. raised its position in TC Energy by 16.8% in the 4th quarter. Hillsdale Investment Management Inc. now owns 13,425 shares of the pipeline company’s stock worth $741,000 after purchasing an additional 1,932 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in TC Energy by 5.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 16,413 shares of the pipeline company’s stock worth $903,000 after purchasing an additional 878 shares during the period. Foundations Investment Advisors LLC raised its position in TC Energy by 101.8% in the 4th quarter. Foundations Investment Advisors LLC now owns 25,871 shares of the pipeline company’s stock worth $1,423,000 after purchasing an additional 13,054 shares during the period. Finally, Kingsview Wealth Management LLC raised its position in TC Energy by 40.9% in the 4th quarter. Kingsview Wealth Management LLC now owns 10,306 shares of the pipeline company’s stock worth $567,000 after purchasing an additional 2,991 shares during the period. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Stock Performance

Shares of NYSE:TRP opened at $66.67 on Friday. The firm has a market cap of $66.67 billion, a PE ratio of 28.94 and a beta of 0.67. The firm’s 50 day simple moving average is $64.71 and its 200-day simple moving average is $60.05. TC Energy Corporation has a one year low of $46.29 and a one year high of $71.47. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.57 and a current ratio of 0.65.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Friday, May 1st. The pipeline company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.20 billion. TC Energy had a net margin of 22.22% and a return on equity of 10.74%. During the same period last year, the company posted $0.95 earnings per share. As a group, equities analysts predict that TC Energy Corporation will post 2.75 EPS for the current year.

TC Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.8775 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.3%. TC Energy’s dividend payout ratio (DPR) is 109.57%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TRP. TD Securities reissued a “hold” rating on shares of TC Energy in a research report on Monday, May 4th. Wall Street Zen raised shares of TC Energy from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Scotiabank reissued an “outperform” rating on shares of TC Energy in a research report on Monday, May 4th. BMO Capital Markets reaffirmed an “outperform” rating on shares of TC Energy in a research report on Monday, May 4th. Finally, The Goldman Sachs Group raised shares of TC Energy from a “sell” rating to a “neutral” rating and raised their target price for the stock from $53.00 to $62.00 in a research report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $78.50.

TC Energy Profile

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.