J. Safra Sarasin Holding AG Decreases Stock Holdings in TC Energy Corporation $TRP

Key Points

• J. Safra Sarasin Holding AG has reduced its stake in TC Energy Corporation by 71.7%, now holding 17,942 shares valued at $874,000.
• TC Energy's recent quarterly earnings report showed an earnings per share of $0.59, surpassing estimates, despite a revenue of $1.82 billion falling short of expectations.
• The company announced an increase in its quarterly dividend to $0.6148 per share, reflecting a dividend yield of 4.5%.

J. Safra Sarasin Holding AG lowered its stake in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 71.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,942 shares of the pipeline company's stock after selling 45,527 shares during the period. J. Safra Sarasin Holding AG's holdings in TC Energy were worth $874,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. TruNorth Capital Management LLC purchased a new stake in TC Energy during the first quarter worth about $45,000. Truvestments Capital LLC purchased a new stake in TC Energy during the first quarter worth about $45,000. Golden State Wealth Management LLC boosted its holdings in TC Energy by 222.2% during the first quarter. Golden State Wealth Management LLC now owns 1,076 shares of the pipeline company's stock worth $51,000 after buying an additional 742 shares in the last quarter. SBI Securities Co. Ltd. boosted its holdings 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 worth $55,000 after buying an additional 501 shares in the last quarter. Finally, HM Payson & Co. acquired a new position in TC Energy during the first quarter worth about $60,000. Hedge funds and other institutional investors own 83.13% of the company's stock.

TC Energy Stock Performance

Shares of TRP opened at $55.16 on Friday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.54 and a current ratio of 0.61. The company has a market capitalization of $57.38 billion, a price-to-earnings ratio of 18.83, a PEG ratio of 5.29 and a beta of 0.75. The company's 50 day simple moving average is $51.37 and its 200 day simple moving average is $49.62. TC Energy Corporation has a 1 year low of $43.51 and a 1 year high of $55.34.

TC Energy (NYSE:TRP - Get Free Report) 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, beating the consensus estimate of $0.56 by $0.03. The business 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 in the prior year, the firm posted $0.79 earnings per share. On average, sell-side analysts predict that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 29th will be paid a dividend of $0.6148 per share. The ex-dividend date of this dividend is Monday, September 29th. This is a positive change from TC Energy's previous quarterly dividend of $0.61. This represents a $2.46 annualized dividend and a dividend yield of 4.5%. TC Energy's payout ratio is currently 84.30%.

Analyst Upgrades and Downgrades

TRP has been the subject of a number of research reports. Weiss Ratings restated a "buy (b-)" rating on shares of TC Energy in a research report on Saturday, September 27th. Wall Street Zen cut shares of TC Energy from a "hold" rating to a "sell" rating in a research report on Friday. US Capital Advisors cut shares of TC Energy from a "moderate buy" rating to a "hold" rating in a research report on Thursday, August 21st. Finally, 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 assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $62.00.

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.

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