Two Sigma Investments LP lessened its holdings in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 96.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 37,000 shares of the pipeline company's stock after selling 937,810 shares during the quarter. Two Sigma Investments LP's holdings in TC Energy were worth $1,722,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of TRP. State of Wyoming grew its position in TC Energy by 126.8% during the 4th quarter. State of Wyoming now owns 10,250 shares of the pipeline company's stock worth $477,000 after purchasing an additional 5,730 shares during the last quarter. SIR Capital Management L.P. acquired a new stake in shares of TC Energy during the fourth quarter worth $35,257,000. Recurrent Investment Advisors LLC lifted its stake in shares of TC Energy by 10.4% during the fourth quarter. Recurrent Investment Advisors LLC now owns 202,334 shares of the pipeline company's stock worth $9,415,000 after buying an additional 19,059 shares during the period. Quantinno Capital Management LP grew its holdings in shares of TC Energy by 21.7% during the fourth quarter. Quantinno Capital Management LP now owns 27,800 shares of the pipeline company's stock valued at $1,294,000 after buying an additional 4,955 shares during the last quarter. Finally, Nomura Holdings Inc. acquired a new position in shares of TC Energy in the 4th quarter valued at $267,000. Hedge funds and other institutional investors own 83.13% of the company's stock.
TC Energy Price Performance
TC Energy stock traded up $0.14 during midday trading on Thursday, reaching $51.49. The company had a trading volume of 348,745 shares, compared to its average volume of 2,461,560. The company has a market capitalization of $53.53 billion, a P/E ratio of 15.89, a P/E/G ratio of 4.34 and a beta of 0.78. The firm's fifty day simple moving average is $49.02 and its 200-day simple moving average is $47.67. TC Energy Co. has a 12-month low of $37.07 and a 12-month high of $51.99. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23.
TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its quarterly earnings data on Thursday, May 1st. The pipeline company reported $0.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.70 by ($0.04). TC Energy had a net margin of 29.40% and a return on equity of 12.12%. The firm had revenue of $1.78 billion during the quarter, compared to analysts' expectations of $2.57 billion. During the same period in the prior year, the company posted $1.02 EPS. As a group, equities analysts anticipate that TC Energy Co. will post 2.63 EPS for the current year.
TC Energy Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be given a $0.6142 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.46 annualized dividend and a yield of 4.77%. TC Energy's payout ratio is 77.89%.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on TRP shares. Royal Bank of Canada increased their price target on TC Energy from $71.00 to $74.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. CIBC upgraded TC Energy from a "neutral" rating to a "sector outperform" rating in a research report on Friday, May 2nd. Wall Street Zen lowered shares of TC Energy from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Veritas raised shares of TC Energy from a "strong sell" rating to a "strong-buy" rating in a report on Tuesday, February 18th. Finally, Cibc World Mkts upgraded shares of TC Energy from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $62.00.
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About TC Energy
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Free Report)
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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