TC Energy Corporation $TRP Position Reduced by Caitong International Asset Management Co. Ltd

Caitong International Asset Management Co. Ltd decreased its position in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 85.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 844 shares of the pipeline company’s stock after selling 4,946 shares during the quarter. Caitong International Asset Management Co. Ltd’s holdings in TC Energy were worth $41,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FSM Wealth Advisors LLC raised its holdings in TC Energy by 7.6% during the second quarter. FSM Wealth Advisors LLC now owns 5,546 shares of the pipeline company’s stock worth $263,000 after purchasing an additional 394 shares in the last quarter. Bleakley Financial Group LLC raised its holdings in TC Energy by 23.9% during the second quarter. Bleakley Financial Group LLC now owns 71,233 shares of the pipeline company’s stock worth $3,475,000 after purchasing an additional 13,749 shares in the last quarter. apricus wealth LLC raised its holdings in TC Energy by 1.7% during the second quarter. apricus wealth LLC now owns 55,895 shares of the pipeline company’s stock worth $2,727,000 after purchasing an additional 935 shares in the last quarter. Lorne Steinberg Wealth Management Inc. increased its holdings in shares of TC Energy by 1.5% in the second quarter. Lorne Steinberg Wealth Management Inc. now owns 183,456 shares of the pipeline company’s stock valued at $8,962,000 after buying an additional 2,738 shares in the last quarter. Finally, Stephens Inc. AR increased its holdings in shares of TC Energy by 4.6% in the second quarter. Stephens Inc. AR now owns 10,096 shares of the pipeline company’s stock valued at $493,000 after buying an additional 446 shares in the last quarter. Institutional investors own 83.13% of the company’s stock.

TC Energy Price Performance

Shares of NYSE:TRP opened at $50.38 on Friday. The company’s fifty day moving average is $52.32 and its two-hundred day moving average is $50.11. 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 12-month low of $43.51 and a 12-month high of $55.37. The company has a market cap of $52.41 billion, a P/E ratio of 17.19, a price-to-earnings-growth ratio of 4.78 and a beta of 0.75.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Thursday, July 31st. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.03. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the previous year, the business earned $0.79 EPS. Equities analysts expect that TC Energy Corporation will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 29th will be paid a dividend of $0.6148 per share. This is an increase 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 annualized dividend and a yield of 4.9%. TC Energy’s dividend payout ratio (DPR) is presently 84.30%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Wall Street Zen cut TC Energy from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. US Capital Advisors cut TC Energy from a “moderate buy” rating to a “hold” rating in a report on Thursday, August 21st. Scotiabank reaffirmed an “outperform” rating on shares of TC Energy in a report on Monday, October 20th. Cibc World Mkts cut TC Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of TC Energy in a report on Friday. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $72.00.

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.