Y Intercept Hong Kong Ltd Acquires Shares of 12,964 TC Energy Corporation (NYSE:TRP)

Key Points

• Y Intercept Hong Kong Ltd has acquired 12,964 shares of TC Energy Corporation, valued at approximately $612,000, marking a new position for the institutional investor.
• TC Energy reported a quarterly EPS of $0.66, missing the consensus estimate of $0.70, alongside revenues of $1.78 billion compared to the expected $2.57 billion.
• The company recently announced a quarterly dividend of $0.6142 per share, representing an annual yield of 5.20% and a payout ratio of 82.51%.

Y Intercept Hong Kong Ltd bought a new stake in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,964 shares of the pipeline company's stock, valued at approximately $612,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Thrivent Financial for Lutherans grew its position in TC Energy by 10.2% during the fourth quarter. Thrivent Financial for Lutherans now owns 5,468 shares of the pipeline company's stock valued at $269,000 after buying an additional 504 shares during the period. American Century Companies Inc. boosted its position in shares of TC Energy by 6.0% in the fourth quarter. American Century Companies Inc. now owns 246,855 shares of the pipeline company's stock valued at $11,504,000 after acquiring an additional 14,076 shares during the period. Sei Investments Co. boosted its position in shares of TC Energy by 8.7% in the fourth quarter. Sei Investments Co. now owns 45,239 shares of the pipeline company's stock valued at $2,105,000 after acquiring an additional 3,636 shares during the period. LPL Financial LLC boosted its position in shares of TC Energy by 8.9% in the fourth quarter. LPL Financial LLC now owns 911,009 shares of the pipeline company's stock valued at $42,389,000 after acquiring an additional 74,391 shares during the period. Finally, Korea Investment CORP raised its stake in TC Energy by 108.5% in the fourth quarter. Korea Investment CORP now owns 625,606 shares of the pipeline company's stock valued at $29,140,000 after purchasing an additional 325,627 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Citigroup initiated coverage on shares of TC Energy in a report on Friday, April 4th. They set a "neutral" rating for the company. CIBC raised shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a research note on Friday, May 2nd. Finally, Cibc World Mkts upgraded shares of TC Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $62.00.

TC Energy Price Performance

NYSE:TRP traded up $0.19 during trading hours on Tuesday, hitting $47.01. 482,453 shares of the stock traded hands, compared to its average volume of 2,426,862. The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of 1.61. TC Energy Corporation has a 1 year low of $37.41 and a 1 year high of $51.99. The company has a market cap of $48.89 billion, a price-to-earnings ratio of 15.52, a price-to-earnings-growth ratio of 4.53 and a beta of 0.76. The stock has a 50 day moving average price of $48.74 and a 200 day moving average price of $47.85.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its quarterly earnings data on Thursday, May 1st. The pipeline company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.04). The company had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $2.57 billion. TC Energy had a net margin of 29.17% and a return on equity of 11.41%. During the same quarter in the previous year, the business earned $1.02 EPS. Sell-side analysts forecast that TC Energy Corporation will post 2.63 EPS for the current fiscal year.

TC Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be given a $0.6142 dividend. This represents a $2.46 annualized dividend and a yield of 5.23%. The ex-dividend date of this dividend is Monday, June 30th. TC Energy's dividend payout ratio is presently 82.18%.

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.