Jump Financial LLC Sells 6,800 Shares of TC Energy Corporation $TRP

Key Points

• Jump Financial LLC reduced its stake in TC Energy Corporation by 51.5%, selling 6,800 shares, and now holds 6,400 shares valued at $302,000.
• Major institutional investors, including Goldman Sachs and Bank of Nova Scotia, significantly increased their positions in TC Energy during the first quarter, with Goldman Sachs boosting its stake by 2,565.1%.
• TC Energy recently announced a quarterly dividend increase to $0.6148, representing an annual yield of 4.7%, set to be paid on October 31st.

Jump Financial LLC lessened its stake in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 51.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,400 shares of the pipeline company's stock after selling 6,800 shares during the period. Jump Financial LLC's holdings in TC Energy were worth $302,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Lowe Wealth Advisors LLC acquired a new position in shares of TC Energy during the 1st quarter valued at $30,000. TruNorth Capital Management LLC acquired a new position in shares of TC Energy during the 1st quarter valued at $45,000. Golden State Wealth Management LLC lifted its position in shares of TC Energy by 222.2% during the 1st quarter. Golden State Wealth Management LLC now owns 1,076 shares of the pipeline company's stock valued at $51,000 after acquiring an additional 742 shares during the period. SBI Securities Co. Ltd. lifted its position in shares of TC Energy by 75.3% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,166 shares of the pipeline company's stock valued at $55,000 after acquiring an additional 501 shares during the period. Finally, HM Payson & Co. acquired a new position in TC Energy during the first quarter worth $60,000. Institutional investors and hedge funds own 83.13% of the company's stock.

TC Energy Stock Down 0.2%

Shares of NYSE TRP traded down $0.08 during trading on Tuesday, hitting $51.81. The stock had a trading volume of 151,919 shares, compared to its average volume of 2,271,113. TC Energy Corporation has a 12 month low of $40.76 and a 12 month high of $52.39. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.61 and a quick ratio of 0.54. The company has a market capitalization of $53.88 billion, a PE ratio of 17.69, a PEG ratio of 4.97 and a beta of 0.77. The firm has a fifty day moving average of $49.36 and a two-hundred day moving average of $48.70.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its earnings results on Thursday, July 31st. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.03. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the prior year, the business posted $0.79 EPS. As a group, equities research analysts forecast that TC Energy Corporation will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be paid a $0.6148 dividend. This represents a $2.46 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Monday, September 29th. This is a positive change from TC Energy's previous quarterly dividend of $0.61. TC Energy's dividend payout ratio (DPR) is currently 85.32%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on TRP shares. US Capital Advisors downgraded shares of 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 report on Thursday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $62.00.

TC Energy Company 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.