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

Catalyst Capital Advisors LLC lowered its stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 22.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 268,698 shares of the pipeline company’s stock after selling 77,590 shares during the period. Catalyst Capital Advisors LLC’s holdings in TC Energy were worth $14,781,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of TRP. AQR Capital Management LLC lifted its holdings in TC Energy by 54.0% during the first quarter. AQR Capital Management LLC now owns 11,099 shares of the pipeline company’s stock worth $538,000 after buying an additional 3,892 shares during the period. Focus Partners Wealth lifted its holdings in TC Energy by 46.1% during the first quarter. Focus Partners Wealth now owns 12,446 shares of the pipeline company’s stock worth $588,000 after buying an additional 3,929 shares during the period. Intech Investment Management LLC lifted its holdings in TC Energy by 200.7% during the first quarter. Intech Investment Management LLC now owns 26,878 shares of the pipeline company’s stock worth $1,269,000 after buying an additional 17,939 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in TC Energy by 50.5% during the second quarter. EverSource Wealth Advisors LLC now owns 3,706 shares of the pipeline company’s stock worth $181,000 after buying an additional 1,243 shares during the period. Finally, Guggenheim Capital LLC lifted its holdings in TC Energy by 9.9% during the second quarter. Guggenheim Capital LLC now owns 16,758 shares of the pipeline company’s stock worth $818,000 after buying an additional 1,511 shares during the period. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Price Performance

Shares of TRP opened at $66.67 on Friday. The company has a market cap of $66.67 billion, a price-to-earnings ratio of 28.94 and a beta of 0.67. TC Energy Corporation has a twelve month low of $46.29 and a twelve month high of $71.47. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 1.67. The company has a 50 day moving average of $64.71 and a two-hundred day moving average of $60.05.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Friday, May 1st. The pipeline company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.02. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate 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 firm earned $0.95 earnings per share. As a group, analysts predict that TC Energy Corporation will post 2.75 earnings per share for the current fiscal year.

TC Energy Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on TRP. Citigroup restated a “neutral” rating on shares of TC Energy in a report on Thursday, February 19th. TD Securities restated a “hold” rating on shares of TC Energy in a research note on Monday, May 4th. National Bank Financial upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 4th. Wall Street Zen upgraded shares of TC Energy from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, Weiss Ratings downgraded shares of TC Energy from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, TC Energy has a consensus rating of “Moderate Buy” and an average target price 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.