Value Partners Investments Inc. Trims Position in TC Energy Corporation (NYSE:TRP)

Value Partners Investments Inc. cut its holdings in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 6.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,901 shares of the pipeline company’s stock after selling 352 shares during the quarter. Value Partners Investments Inc.’s holdings in TC Energy were worth $232,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Lowe Wealth Advisors LLC purchased a new position in TC Energy during the 1st quarter worth approximately $30,000. SBI Securities Co. Ltd. purchased a new position in shares of TC Energy during the 4th quarter valued at approximately $31,000. Synergy Investment Management LLC purchased a new position in shares of TC Energy during the 4th quarter valued at approximately $36,000. Millstone Evans Group LLC purchased a new position in shares of TC Energy during the 4th quarter valued at approximately $41,000. Finally, First Command Advisory Services Inc. purchased a new position in shares of TC Energy during the 4th quarter valued at approximately $46,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Trading Down 0.4%

Shares of TRP opened at $47.01 on Thursday. TC Energy Corporation has a 52-week low of $37.07 and a 52-week high of $51.99. The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of 1.61. The firm’s fifty day moving average is $49.57 and its two-hundred day moving average is $47.65. The stock has a market cap of $48.89 billion, a PE ratio of 15.51, a price-to-earnings-growth ratio of 4.54 and a beta of 0.78.

TC Energy (NYSE:TRP) (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 the consensus estimate of $0.70 by ($0.04). The business had revenue of $1.78 billion for the quarter, compared to analyst estimates of $2.57 billion. TC Energy had a return on equity of 11.41% and a net margin of 29.17%. During the same period last year, the firm earned $1.02 EPS. Research analysts forecast that TC Energy Corporation will post 2.63 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be given a dividend of $0.6142 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.46 annualized dividend and a dividend yield of 5.23%. TC Energy’s payout ratio is 77.89%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on TRP shares. CIBC raised shares of TC Energy from a “neutral” rating to a “sector outperform” rating in a report on Friday, May 2nd. Cibc World Mkts raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a report on Friday, May 2nd. Wall Street Zen lowered shares of TC Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Finally, Citigroup assumed coverage on shares of TC Energy in a report on Friday, April 4th. They issued a “neutral” rating for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $62.00.

TC Energy 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.