Versor Investments LP Acquires Shares of 17,802 TC Energy Corporation $TRP

Key Points

• Versor Investments LP has acquired 17,802 shares of TC Energy Corporation (NYSE:TRP), valued at approximately $841,000, during the first quarter.
• TC Energy has announced an increase in its quarterly dividend to $0.6148 per share, providing a yield of 4.9% for investors.
• Analysts have recently upgraded TC Energy’s stock rating, with a consensus rating of "Moderate Buy" and an average price target of $62.00.

Versor Investments LP bought a new position in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 17,802 shares of the pipeline company's stock, valued at approximately $841,000.

A number of other hedge funds also recently bought and sold shares of the stock. Northwest & Ethical Investments L.P. lifted its holdings in TC Energy by 35.5% during the first quarter. Northwest & Ethical Investments L.P. now owns 302,252 shares of the pipeline company's stock worth $14,283,000 after buying an additional 79,261 shares during the period. Partners Group Holding AG lifted its holdings in TC Energy by 22.9% during the first quarter. Partners Group Holding AG now owns 748,084 shares of the pipeline company's stock worth $35,767,000 after buying an additional 139,633 shares during the period. American Century Companies Inc. lifted its holdings in TC Energy by 1.6% during the first quarter. American Century Companies Inc. now owns 250,870 shares of the pipeline company's stock worth $11,847,000 after buying an additional 4,015 shares during the period. Fox Run Management L.L.C. purchased a new stake in TC Energy during the first quarter worth $1,884,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in TC Energy during the first quarter worth $273,000. Hedge funds and other institutional investors own 83.13% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on TRP shares. CIBC raised TC Energy from a "neutral" rating to a "sector outperform" rating in a research report on Friday, May 2nd. Barclays reissued an "overweight" rating on shares of TC Energy in a research report on Thursday, August 14th. Cibc World Mkts raised TC Energy from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 2nd. Finally, US Capital Advisors cut TC Energy from a "moderate buy" rating to a "hold" rating in a research report on Thursday. Two equities research 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's stock. According to MarketBeat, TC Energy currently has a consensus rating of "Moderate Buy" and an average price target of $62.00.

TC Energy Stock Performance

TRP stock traded down $0.3660 during midday trading on Friday, reaching $51.1540. The stock had a trading volume of 1,307,596 shares, compared to its average volume of 1,470,006. The stock has a market cap of $53.20 billion, a PE ratio of 17.46, a P/E/G ratio of 4.91 and a beta of 0.75. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.54 and a current ratio of 0.61. The firm has a fifty day simple moving average of $48.56 and a two-hundred day simple moving average of $48.30. TC Energy Corporation has a 52-week low of $40.76 and a 52-week high of $52.10.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its earnings results on Thursday, July 31st. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.56 by $0.03. The company had revenue of $1.82 billion during 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 last year, the business posted $0.79 EPS. As a group, equities research analysts anticipate that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders 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 dividend yield of 4.8%. The ex-dividend date is Monday, September 29th. This is an increase from TC Energy's previous quarterly dividend of $0.61. TC Energy's dividend payout ratio (DPR) is 85.32%.

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.