Park Place Capital Corp Sells 1,734 Shares of TC Energy Co. (NYSE:TRP)

Park Place Capital Corp cut its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 11.5% in the first quarter, HoldingsChannel.com reports. The fund owned 13,319 shares of the pipeline company’s stock after selling 1,734 shares during the period. Park Place Capital Corp’s holdings in TC Energy were worth $535,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in TRP. Tower Research Capital LLC TRC grew its position in TC Energy by 65.5% during the third quarter. Tower Research Capital LLC TRC now owns 22,869 shares of the pipeline company’s stock valued at $787,000 after buying an additional 9,048 shares during the period. Schonfeld Strategic Advisors LLC grew its position in TC Energy by 80.6% during the third quarter. Schonfeld Strategic Advisors LLC now owns 73,700 shares of the pipeline company’s stock valued at $2,536,000 after buying an additional 32,900 shares during the period. United Services Automobile Association grew its position in TC Energy by 9.3% during the third quarter. United Services Automobile Association now owns 29,566 shares of the pipeline company’s stock valued at $1,017,000 after buying an additional 2,513 shares during the period. Insigneo Advisory Services LLC bought a new stake in TC Energy during the third quarter valued at approximately $337,000. Finally, AXQ Capital LP bought a new stake in TC Energy during the third quarter valued at approximately $898,000. 83.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, TheStreet raised shares of TC Energy from a “c+” rating to a “b-” rating in a report on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $48.83.

TC Energy Price Performance

TRP stock opened at $37.57 on Tuesday. TC Energy Co. has a one year low of $32.51 and a one year high of $41.03. The company’s fifty day moving average price is $38.10 and its 200-day moving average price is $38.76. 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 company has a market capitalization of $37.57 billion, a PE ratio of 19.36, a price-to-earnings-growth ratio of 3.14 and a beta of 0.79.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Friday, May 3rd. The pipeline company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.83 by $0.09. TC Energy had a net margin of 17.23% and a return on equity of 17.94%. The firm had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.12 billion. On average, equities analysts anticipate that TC Energy Co. will post 3.01 EPS for the current fiscal year.

TC Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 7.56%. The ex-dividend date is Friday, June 28th. TC Energy’s dividend payout ratio (DPR) is presently 143.30%.

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.