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 cut its stake in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 59.8% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,243 shares of the pipeline company's stock after selling 40,591 shares during the period. Trexquant Investment LP's holdings in TC Energy were worth $1,286,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lowe Wealth Advisors LLC acquired a new stake in TC Energy in the first quarter valued at approximately $30,000. TruNorth Capital Management LLC bought a new position in TC Energy during the first quarter worth $45,000. Truvestments Capital LLC bought a new stake in TC Energy in the 1st quarter valued at $45,000. Golden State Wealth Management LLC increased its holdings in TC Energy by 222.2% in the 1st quarter. Golden State Wealth Management LLC now owns 1,076 shares of the pipeline company's stock valued at $51,000 after buying an additional 742 shares during the period. Finally, SBI Securities Co. Ltd. boosted its stake in shares of TC Energy by 75.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,166 shares of the pipeline company's stock valued at $55,000 after purchasing an additional 501 shares in the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Trading Up 0.3%

Shares of NYSE:TRP traded up $0.13 during mid-day trading on Thursday, reaching $52.08. The stock had a trading volume of 2,349,382 shares, compared to its average volume of 1,499,606. The firm has a market cap of $54.16 billion, a PE ratio of 17.77, a price-to-earnings-growth ratio of 4.97 and a beta of 0.77. The firm has a 50 day simple moving average of $49.60 and a two-hundred day simple moving average of $48.79. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.54. TC Energy Corporation has a twelve month low of $40.76 and a twelve month high of $52.39.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its quarterly 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 business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same period last year, the company posted $0.79 EPS. On average, research analysts predict that TC Energy Corporation will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently announced 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. 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. 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%.

Analyst Ratings Changes

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