M&T Bank Corp trimmed its holdings in TC Energy Corporation (NYSE:TRP – Free Report) (TSE:TRP) by 23.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,270 shares of the pipeline company’s stock after selling 3,075 shares during the period. M&T Bank Corp’s holdings in TC Energy were worth $485,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also made changes to their positions in the company. BROOKFIELD Corp ON grew its position in shares of TC Energy by 31.6% during the fourth quarter. BROOKFIELD Corp ON now owns 1,890,168 shares of the pipeline company’s stock valued at $87,950,000 after purchasing an additional 454,011 shares in the last quarter. O Shaughnessy Asset Management LLC grew its position in shares of TC Energy by 7.8% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 224,829 shares of the pipeline company’s stock valued at $10,463,000 after purchasing an additional 16,334 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of TC Energy by 1.1% during the first quarter. Bank of New York Mellon Corp now owns 915,241 shares of the pipeline company’s stock valued at $43,209,000 after purchasing an additional 10,227 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of TC Energy by 77.7% during the 1st quarter. Farther Finance Advisors LLC now owns 2,299 shares of the pipeline company’s stock valued at $110,000 after buying an additional 1,005 shares in the last quarter. Finally, Wealthstar Advisors LLC purchased a new stake in shares of TC Energy during the 1st quarter valued at about $432,000. 83.13% of the stock is currently owned by hedge funds and other institutional investors.
TC Energy Price Performance
TRP stock opened at $48.44 on Thursday. TC Energy Corporation has a 12 month low of $39.85 and a 12 month high of $51.99. The company has a current ratio of 0.70, a quick ratio of 0.63 and a debt-to-equity ratio of 1.61. The company has a 50-day moving average price of $48.99 and a 200 day moving average price of $47.82. The stock has a market cap of $50.37 billion, a PE ratio of 15.99, a P/E/G ratio of 4.64 and a beta of 0.76.
TC Energy Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be paid a $0.6142 dividend. This represents a $2.46 dividend on an annualized basis and a yield of 5.07%. The ex-dividend date of this dividend is Monday, June 30th. TC Energy’s dividend payout ratio (DPR) is presently 82.51%.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on TRP shares. Citigroup started coverage on shares of TC Energy in a research report on Friday, April 4th. They set a “neutral” rating on the stock. Cibc World Mkts upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 2nd. Finally, CIBC upgraded shares of TC Energy from a “neutral” rating to a “sector outperform” rating in a research report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $62.00.
Check Out Our Latest Analysis on TRP
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.
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