Catalyst Capital Advisors LLC Grows Holdings in TC Energy Corporation $TRP

Catalyst Capital Advisors LLC raised its stake in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 5.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 283,508 shares of the pipeline company’s stock after buying an additional 14,810 shares during the period. Catalyst Capital Advisors LLC’s holdings in TC Energy were worth $17,748,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in TC Energy by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 47,801,695 shares of the pipeline company’s stock worth $2,632,200,000 after purchasing an additional 980,221 shares during the last quarter. FIL Ltd raised its holdings in TC Energy by 3.9% during the 4th quarter. FIL Ltd now owns 28,305,789 shares of the pipeline company’s stock valued at $1,558,669,000 after buying an additional 1,052,166 shares during the last quarter. TD Asset Management Inc increased its position in shares of TC Energy by 6.3% in the fourth quarter. TD Asset Management Inc now owns 20,868,772 shares of the pipeline company’s stock valued at $1,150,656,000 after acquiring an additional 1,244,525 shares during the period. GQG Partners LLC increased its holdings in TC Energy by 586.5% during the 4th quarter. GQG Partners LLC now owns 16,154,469 shares of the pipeline company’s stock valued at $890,711,000 after purchasing an additional 13,801,371 shares during the period. Finally, Deutsche Bank AG increased its stake in shares of TC Energy by 63.2% during the fourth quarter. Deutsche Bank AG now owns 15,384,255 shares of the pipeline company’s stock valued at $846,288,000 after buying an additional 5,956,263 shares during the period. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on TRP. National Bank Financial upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, May 4th. TD Securities restated a “hold” rating on shares of TC Energy in a research note on Thursday. Royal Bank Of Canada boosted their price target on TC Energy from $92.00 to $95.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of TC Energy in a research report on Tuesday, May 26th. Finally, Barclays reissued an “overweight” rating on shares of TC Energy in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $78.50.

TC Energy Trading Down 0.2%

TC Energy stock opened at $69.75 on Friday. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.65 and a quick ratio of 0.57. The stock has a market cap of $72.68 billion, a P/E ratio of 30.28 and a beta of 0.66. The firm’s 50 day moving average price is $68.37 and its 200-day moving average price is $63.44. TC Energy Corporation has a 1 year low of $46.61 and a 1 year high of $71.47.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Friday, May 1st. The pipeline company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.70 by $0.02. TC Energy had a net margin of 22.22% and a return on equity of 10.74%. The business had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter in the prior year, the firm earned $0.95 EPS. On average, equities analysts predict that TC Energy Corporation will post 2.72 earnings per share for the current fiscal year.

TC Energy Announces Dividend

The company 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. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Tuesday, June 30th. TC Energy’s dividend payout ratio is currently 107.39%.

About TC Energy

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.