TC Energy Corporation $TRP Shares Sold by Catalyst Capital Advisors LLC

Catalyst Capital Advisors LLC reduced its position in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 2.1% in the 2nd quarter, Holdings Channel reports. The firm owned 370,703 shares of the pipeline company’s stock after selling 8,110 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in TC Energy were worth $18,087,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Hilltop National Bank purchased a new position in shares of TC Energy in the second quarter worth about $32,000. Harbor Asset Planning Inc. purchased a new stake in TC Energy in the 2nd quarter valued at $43,000. TruNorth Capital Management LLC acquired a new stake in shares of TC Energy during the 1st quarter worth approximately $45,000. Truvestments Capital LLC acquired a new position in TC Energy in the first quarter valued at approximately $45,000. Finally, Golden State Wealth Management LLC raised its position in TC Energy by 222.2% in the first quarter. Golden State Wealth Management LLC now owns 1,076 shares of the pipeline company’s stock valued at $51,000 after purchasing an additional 742 shares during the period. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Price Performance

TC Energy stock opened at $51.00 on Friday. The stock has a market cap of $53.05 billion, a P/E ratio of 17.41, a price-to-earnings-growth ratio of 4.91 and a beta of 0.75. The company has a fifty day simple moving average of $52.34 and a 200-day simple moving average of $50.03. The company has a current ratio of 0.61, a quick ratio of 0.54 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.

TC Energy (NYSE:TRP) (TSE:TRP) last released 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 analysts’ expectations 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 prior year, the firm posted $0.79 EPS. Equities analysts expect that TC Energy Corporation will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be issued a $0.6148 dividend. This represents a $2.46 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Monday, September 29th. This is a positive change from TC Energy’s previous quarterly dividend of $0.61. TC Energy’s dividend payout ratio (DPR) is currently 84.30%.

Wall Street Analysts Forecast Growth

TRP has been the subject of several research analyst reports. Cibc World Mkts lowered shares of TC Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. TD Securities reaffirmed a “buy” rating on shares of TC Energy in a research report on Friday, October 17th. Scotiabank reissued an “outperform” rating on shares of TC Energy in a research report on Monday. US Capital Advisors downgraded TC Energy from a “moderate buy” rating to a “hold” rating in a report on Thursday, August 21st. Finally, Barclays reissued an “overweight” rating on shares of TC Energy in a research note on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently 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.