K.J. Harrison & Partners Inc Decreases Stock Holdings in TC Energy Corporation $TRP

K.J. Harrison & Partners Inc trimmed its stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 42.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 95,061 shares of the pipeline company’s stock after selling 71,000 shares during the period. K.J. Harrison & Partners Inc’s holdings in TC Energy were worth $4,632,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in TRP. First Horizon Advisors Inc. raised its holdings in shares of TC Energy by 46.3% during the first quarter. First Horizon Advisors Inc. now owns 5,032 shares of the pipeline company’s stock valued at $238,000 after purchasing an additional 1,592 shares during the last quarter. D.A. Davidson & CO. raised its holdings in shares of TC Energy by 37.7% during the first quarter. D.A. Davidson & CO. now owns 8,785 shares of the pipeline company’s stock valued at $415,000 after purchasing an additional 2,406 shares during the last quarter. Checchi Capital Advisers LLC raised its holdings in shares of TC Energy by 19.2% during the first quarter. Checchi Capital Advisers LLC now owns 6,123 shares of the pipeline company’s stock valued at $289,000 after purchasing an additional 986 shares during the last quarter. Avantax Planning Partners Inc. raised its holdings in shares of TC Energy by 21.3% during the first quarter. Avantax Planning Partners Inc. now owns 8,250 shares of the pipeline company’s stock valued at $389,000 after purchasing an additional 1,450 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings 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 during the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Stock Performance

Shares of NYSE TRP opened at $50.19 on Monday. The firm has a fifty day moving average price of $52.25 and a 200-day moving average price of $50.26. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.61 and a quick ratio of 0.54. The stock has a market cap of $52.22 billion, a PE ratio of 17.13, a price-to-earnings-growth ratio of 4.82 and a beta of 0.75. TC Energy Corporation has a 1 year low of $43.51 and a 1 year high of $55.37.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Thursday, July 31st. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.03. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same period in the prior year, the company posted $0.79 earnings per share. Equities analysts anticipate that TC Energy Corporation will post 2.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TRP has been the subject of a number of research reports. Wall Street Zen cut shares of TC Energy from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of TC Energy in a report on Wednesday, October 8th. Cibc World Mkts cut shares of TC Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Barclays reaffirmed an “overweight” rating on shares of TC Energy in a report on Tuesday, October 14th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of TC Energy in a report on Monday, October 20th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, TC Energy presently has an average rating of “Moderate Buy” and a consensus target price of $72.00.

TC Energy 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.