TC Energy Corporation $TRP Shares Sold by Jump Financial LLC

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 lowered its position in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 51.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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.

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

TC Energy Stock Performance

Shares of NYSE TRP traded down $0.08 during midday trading on Monday, hitting $51.78. 356,508 shares of the company's stock were exchanged, compared to its average volume of 2,274,871. 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 Corporation has a 12 month low of $40.76 and a 12 month high of $52.39. The firm has a market capitalization of $53.84 billion, a PE ratio of 17.67, a price-to-earnings-growth ratio of 4.97 and a beta of 0.77. The company's 50 day moving average price is $49.30 and its 200 day moving average price is $48.65.

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

TC Energy Increases Dividend

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

Analyst Ratings Changes

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