K.J. Harrison & Partners Inc Sells 71,000 Shares of TC Energy Corporation $TRP

K.J. Harrison & Partners Inc decreased its stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 42.8% in the second quarter, Holdings Channel.com reports. 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 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of TRP. Hilltop National Bank bought a new position in TC Energy during the second quarter valued at $32,000. Harbor Asset Planning Inc. bought a new position in TC Energy during the second quarter valued at $43,000. TruNorth Capital Management LLC bought a new position in TC Energy during the first quarter valued at $45,000. Truvestments Capital LLC bought a new position in TC Energy during the first quarter valued at $45,000. Finally, SBI Securities Co. Ltd. lifted its position in TC Energy by 75.3% during the first quarter. SBI Securities Co. Ltd. now owns 1,166 shares of the pipeline company’s stock valued at $55,000 after purchasing an additional 501 shares during the last quarter. Institutional investors own 83.13% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. TD Securities reiterated a “buy” rating on shares of TC Energy in a research report on Friday, October 17th. Weiss Ratings reiterated a “buy (b-)” rating on shares of TC Energy in a research report on Wednesday, October 8th. Wall Street Zen lowered shares of TC Energy from a “hold” rating to a “sell” rating in a research report on Friday, October 3rd. Barclays reissued an “overweight” rating on shares of TC Energy in a research note on Tuesday, October 14th. Finally, Cibc World Mkts downgraded shares of TC Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $72.00.

TC Energy Trading Down 0.7%

TRP stock opened at $50.19 on Monday. The company has a market capitalization of $52.22 billion, a PE ratio of 17.13, a P/E/G ratio of 4.82 and a beta of 0.75. TC Energy Corporation has a 12 month low of $43.51 and a 12 month high of $55.37. The firm’s 50-day moving average is $52.25 and its 200 day moving average is $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.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Thursday, July 31st. The pipeline company reported $0.59 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 the consensus estimate of $2.56 billion. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. During the same quarter last year, the firm posted $0.79 EPS. On average, research analysts anticipate that TC Energy Corporation will post 2.63 EPS for the current year.

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.