TC Energy Corporation $TRP Shares Sold by D.A. Davidson & CO.

D.A. Davidson & CO. cut its position in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 8.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,017 shares of the pipeline company’s stock after selling 768 shares during the quarter. D.A. Davidson & CO.’s holdings in TC Energy were worth $391,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of TRP. Vanguard Group Inc. boosted its holdings in TC Energy by 1.6% in the first quarter. Vanguard Group Inc. now owns 44,397,978 shares of the pipeline company’s stock valued at $2,096,739,000 after purchasing an additional 710,837 shares during the period. Canada Pension Plan Investment Board boosted its holdings in TC Energy by 34.2% in the first quarter. Canada Pension Plan Investment Board now owns 19,808,558 shares of the pipeline company’s stock valued at $935,627,000 after purchasing an additional 5,053,228 shares during the period. TD Asset Management Inc boosted its holdings in TC Energy by 9.3% in the second quarter. TD Asset Management Inc now owns 19,074,181 shares of the pipeline company’s stock valued at $929,316,000 after purchasing an additional 1,618,441 shares during the period. Bank of Nova Scotia boosted its holdings in TC Energy by 80.3% in the first quarter. Bank of Nova Scotia now owns 16,983,443 shares of the pipeline company’s stock valued at $802,164,000 after purchasing an additional 7,562,887 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in TC Energy by 2,565.1% in the first quarter. Goldman Sachs Group Inc. now owns 16,306,187 shares of the pipeline company’s stock valued at $769,815,000 after purchasing an additional 15,694,336 shares during the period. 83.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Barclays reaffirmed an “overweight” rating on shares of TC Energy in a report on Tuesday, October 14th. Scotiabank reaffirmed an “outperform” rating on shares of TC Energy in a research note on Monday, October 20th. TD Securities reaffirmed a “buy” rating on shares of TC Energy in a research note on Friday, October 17th. 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 reaffirmed a “buy (b-)” rating on shares of TC Energy in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, TC Energy has an average rating of “Moderate Buy” and an average price target of $72.00.

TC Energy Stock Performance

NYSE TRP opened at $50.48 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 business’s 50 day moving average is $52.27 and its two-hundred day moving average is $50.23. TC Energy Corporation has a 12-month low of $43.51 and a 12-month high of $55.37. The stock has a market capitalization of $52.53 billion, a price-to-earnings ratio of 17.23, a PEG ratio of 4.82 and a beta of 0.75.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results 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 company had revenue of $1.82 billion for 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 quarter in the previous year, the firm posted $0.79 EPS. Research analysts expect that TC Energy Corporation will post 2.63 EPS for the current year.

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.