5,300 Shares in TC Energy Co. (NYSE:TRP) Acquired by Sanders Morris Harris LLC

Sanders Morris Harris LLC bought a new position in TC Energy Co. (NYSE:TRP) (TSE:TRP) in the first quarter, according to its most recent filing with the SEC. The firm bought 5,300 shares of the pipeline company’s stock, valued at approximately $213,000.

A number of other institutional investors also recently bought and sold shares of the stock. Nexus Investment Management ULC boosted its stake in TC Energy by 0.4% in the 1st quarter. Nexus Investment Management ULC now owns 616,485 shares of the pipeline company’s stock worth $24,795,000 after purchasing an additional 2,750 shares in the last quarter. Grassi Investment Management purchased a new position in TC Energy during the 1st quarter worth approximately $201,000. Cardinal Capital Management Inc. raised its position in TC Energy by 1.3% during the 1st quarter. Cardinal Capital Management Inc. now owns 2,516,832 shares of the pipeline company’s stock worth $101,227,000 after buying an additional 32,795 shares during the last quarter. New Hampshire Trust raised its position in TC Energy by 3.8% during the 1st quarter. New Hampshire Trust now owns 7,263 shares of the pipeline company’s stock worth $292,000 after buying an additional 269 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its position in TC Energy by 13.6% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 48,124 shares of the pipeline company’s stock worth $1,935,000 after buying an additional 5,763 shares during the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TRP. TheStreet raised shares of TC Energy from a “c+” rating to a “b-” rating in a report on Wednesday, March 20th. Jefferies Financial Group started coverage on shares of TC Energy in a research note on Tuesday, February 27th. They set a “hold” rating on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, TC Energy has a consensus rating of “Hold” and a consensus target price of $48.83.

TC Energy Trading Up 0.9 %

Shares of TRP stock traded up $0.33 on Friday, hitting $38.49. 2,279,996 shares of the stock traded hands, compared to its average volume of 2,717,524. The firm’s 50-day moving average price is $37.78 and its two-hundred day moving average price is $38.75. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.85 and a current ratio of 0.94. The stock has a market capitalization of $38.49 billion, a PE ratio of 19.84, a PEG ratio of 3.18 and a beta of 0.79. TC Energy Co. has a twelve month low of $32.51 and a twelve month high of $41.03.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Friday, May 3rd. The pipeline company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.09. The firm had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.12 billion. TC Energy had a net margin of 17.23% and a return on equity of 17.94%. As a group, analysts anticipate that TC Energy Co. will post 3 EPS for the current year.

TC Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be issued a $0.71 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.84 annualized dividend and a yield of 7.38%. TC Energy’s dividend payout ratio (DPR) is currently 145.88%.

About TC Energy

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.