Trexquant Investment LP Sells 40,591 Shares of TC Energy Corporation $TRP

Key Points

• Trexquant Investment LP reduced its stake in TC Energy Corporation by 59.8%, selling 40,591 shares and leaving it with 27,243 shares valued at $1.286 million as of the latest SEC filing.
• TC Energy announced a quarterly dividend of $0.6148 per share, representing a 4.7% yield, an increase from the previous dividend of $0.61.
• The company beat analysts' earnings expectations by reporting $0.59 EPS, although its revenue of $1.82 billion fell short of the forecast of $2.56 billion.

Trexquant Investment LP lessened its holdings in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 59.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,243 shares of the pipeline company's stock after selling 40,591 shares during the quarter. Trexquant Investment LP's holdings in TC Energy were worth $1,286,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in TRP. Tower Research Capital LLC TRC raised 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 worth $77,000 after purchasing an additional 666 shares during the period. Northern Trust Corp grew its holdings in TC Energy by 73.1% in 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 last quarter. BNP Paribas Financial Markets grew its holdings in 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 worth $4,085,000 after acquiring an additional 87,723 shares during the last quarter. 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. Finally, Cetera Investment Advisers grew its holdings in TC Energy by 4.6% in the 4th quarter. Cetera Investment Advisers now owns 103,324 shares of the pipeline company's stock worth $4,813,000 after acquiring an additional 4,522 shares during the last quarter. Hedge funds and other institutional investors own 83.13% of the company's stock.

TC Energy Trading Up 0.3%

Shares of TRP traded up $0.16 during trading hours on Wednesday, reaching $51.97. 1,192,566 shares of the company traded hands, compared to its average volume of 2,276,354. The company's fifty day moving average price is $49.44 and its two-hundred day moving average price is $48.72. The company has a market capitalization of $54.04 billion, a price-to-earnings ratio of 17.73, 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 Corporation has a 12 month low of $40.76 and a 12 month high of $52.39.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its earnings results on Thursday, July 31st. The pipeline company reported $0.59 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the previous year, the firm posted $0.79 EPS. Equities research analysts predict that TC Energy Corporation will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The firm 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 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%. TC Energy's payout ratio is presently 83.62%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on TRP shares. US Capital Advisors lowered shares of TC Energy from a "moderate buy" rating to a "hold" rating in a report on Thursday, August 21st. Barclays reissued an "overweight" rating on shares of TC Energy in a report on Thursday, August 14th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average 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.