Park Place Capital Corp Has $535,000 Stock Position in TC Energy Co. (NYSE:TRP)

Park Place Capital Corp lowered its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 11.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. New Hampshire Trust grew its stake in TC Energy by 3.8% in the first quarter. New Hampshire Trust now owns 7,263 shares of the pipeline company’s stock valued at $292,000 after acquiring an additional 269 shares during the period. Glassman Wealth Services grew its stake in TC Energy by 61.0% in the fourth quarter. Glassman Wealth Services now owns 726 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 275 shares during the period. Wealthspire Advisors LLC grew its stake in TC Energy by 2.1% in the fourth quarter. Wealthspire Advisors LLC now owns 14,383 shares of the pipeline company’s stock valued at $562,000 after acquiring an additional 300 shares during the period. AdvisorNet Financial Inc grew its stake in TC Energy by 25.8% in the fourth quarter. AdvisorNet Financial Inc now owns 1,483 shares of the pipeline company’s stock valued at $58,000 after acquiring an additional 304 shares during the period. Finally, Wealth Alliance boosted its position in shares of TC Energy by 1.4% during the fourth quarter. Wealth Alliance now owns 22,531 shares of the pipeline company’s stock valued at $881,000 after buying an additional 304 shares during the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

Analyst Ratings Changes

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

TC Energy Stock Performance

Shares of TC Energy stock opened at $37.57 on Tuesday. The business’s fifty day simple moving average is $38.10 and its 200 day simple moving average is $38.76. The firm has a market capitalization of $37.57 billion, a P/E ratio of 19.36, a price-to-earnings-growth ratio of 3.14 and a beta of 0.79. TC Energy Co. has a 12 month low of $32.51 and a 12 month high of $41.03. The company has a current ratio of 0.94, a quick ratio of 0.85 and a debt-to-equity ratio of 1.64.

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

TC Energy Cuts Dividend

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

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.