50,024 Shares in TC Energy Corporation $TRP Bought by Graham Capital Management L.P.

Key Points

• Graham Capital Management L.P. recently invested approximately $2.36 million in TC Energy Corporation, acquiring 50,024 shares during the first quarter.
• TC Energy announced an increase in its quarterly dividend to $0.6148, with an annualized yield of 4.7%, reflecting positive financial performance.
• Analysts have mixed ratings for TC Energy, with an average recommendation of "Moderate Buy" and a target price of $62.00.

Graham Capital Management L.P. acquired a new stake in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 50,024 shares of the pipeline company's stock, valued at approximately $2,362,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Tower Research Capital LLC TRC increased its position in TC Energy by 67.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,658 shares of the pipeline company's stock valued at $77,000 after acquiring an additional 666 shares during the period. Northern Trust Corp lifted its position in TC Energy by 73.1% during the 4th quarter. Northern Trust Corp now owns 774,074 shares of the pipeline company's stock worth $36,018,000 after acquiring an additional 326,866 shares during the period. AXA S.A. grew its stake in shares of TC Energy by 28.4% in the 4th quarter. AXA S.A. now owns 142,095 shares of the pipeline company's stock valued at $6,612,000 after purchasing an additional 31,441 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of TC Energy by 143,808.2% in the 4th quarter. BNP Paribas Financial Markets now owns 87,784 shares of the pipeline company's stock valued at $4,085,000 after purchasing an additional 87,723 shares during the last quarter. Finally, Benjamin Edwards Inc. increased its holdings in shares of TC Energy by 1.7% in the fourth quarter. Benjamin Edwards Inc. now owns 16,003 shares of the pipeline company's stock valued at $745,000 after purchasing an additional 273 shares during the period. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Price Performance

Shares of TC Energy stock traded up $0.43 during trading on Friday, reaching $51.84. The company's stock had a trading volume of 1,969,162 shares, compared to its average volume of 1,392,677. The business has a 50 day moving average price of $49.30 and a 200-day moving average price of $48.65. TC Energy Corporation has a 12-month low of $40.76 and a 12-month high of $52.39. The company has a market capitalization of $53.92 billion, a P/E ratio of 17.69, a price-to-earnings-growth ratio of 4.97 and a beta of 0.77. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.54.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its earnings results on Thursday, July 31st. The pipeline company reported $0.59 EPS for the quarter, beating analysts' consensus estimates of $0.56 by $0.03. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate 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 last year, the company earned $0.79 earnings per share. As a group, sell-side analysts anticipate that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 29th will be issued a dividend of $0.6148 per share. This is an increase from TC Energy's previous quarterly dividend of $0.61. This represents a $2.46 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Monday, September 29th. TC Energy's payout ratio is presently 85.32%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TRP. US Capital Advisors downgraded TC Energy from a "moderate buy" rating to a "hold" rating in a report on Thursday, August 21st. Barclays restated an "overweight" rating on shares of TC Energy in a research report on Thursday, August 14th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, TC Energy has an average rating of "Moderate Buy" and a consensus target price of $62.00.

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.