TC Energy Corporation $TRP Stock Holdings Trimmed by Caitong International Asset Management Co. Ltd

Caitong International Asset Management Co. Ltd reduced its position in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 85.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. FSM Wealth Advisors LLC increased its holdings in TC Energy by 7.6% in the second quarter. FSM Wealth Advisors LLC now owns 5,546 shares of the pipeline company’s stock valued at $263,000 after buying an additional 394 shares during the last quarter. Bleakley Financial Group LLC increased its holdings in TC Energy by 23.9% in the second quarter. Bleakley Financial Group LLC now owns 71,233 shares of the pipeline company’s stock valued at $3,475,000 after buying an additional 13,749 shares during the last quarter. apricus wealth LLC increased its holdings in TC Energy by 1.7% in the second quarter. apricus wealth LLC now owns 55,895 shares of the pipeline company’s stock valued at $2,727,000 after buying an additional 935 shares during the last quarter. Lorne Steinberg Wealth Management Inc. increased its holdings in 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 during the last quarter. Finally, Stephens Inc. AR increased its holdings in 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 during the last quarter. 83.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TRP has been the subject of a number of research reports. Wall Street Zen downgraded TC Energy from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. Barclays restated an “overweight” rating on shares of TC Energy in a research note on Tuesday, October 14th. Cibc World Mkts downgraded TC Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. US Capital Advisors downgraded TC Energy from a “moderate buy” rating to a “hold” rating in a research note on Thursday, August 21st. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of TC Energy in a research note on Friday. One research 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, TC Energy presently has an average rating of “Moderate Buy” and an average target price of $72.00.

TC Energy Stock Performance

Shares of NYSE TRP opened at $50.38 on Friday. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.54. The stock has a 50 day simple moving average of $52.32 and a 200-day simple moving average of $50.11. The company has a market cap of $52.41 billion, a PE ratio of 17.19, a P/E/G ratio of 4.78 and a beta of 0.75. TC Energy Corporation has a 12-month low of $43.51 and a 12-month high of $55.37.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Thursday, July 31st. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.03. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $2.56 billion. TC Energy had a return on equity of 11.22% and a net margin of 28.98%.During the same period in the previous year, the firm posted $0.79 earnings per share. On average, equities research analysts forecast that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be given a dividend of $0.6148 per share. This is a boost from TC Energy’s previous quarterly dividend of $0.61. This represents a $2.46 annualized dividend and a dividend yield of 4.9%. The ex-dividend date is Monday, September 29th. TC Energy’s payout ratio is presently 84.30%.

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.