Virtu Financial LLC Takes Position in TC Energy Corporation (NYSE:TRP)

Key Points

• Virtu Financial LLC has invested approximately $457,000 in TC Energy Corporation, acquiring 9,679 shares in the first quarter of the year.
• Major hedge funds including Goldman Sachs and Bank of Nova Scotia have significantly increased their holdings in TC Energy, indicating strong institutional interest in the company.
• TC Energy recently declared a quarterly dividend of $0.6148, up from the previous $0.61, representing a 4.8% dividend yield for investors.

Virtu Financial LLC bought a new stake in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 9,679 shares of the pipeline company's stock, valued at approximately $457,000.

Several other institutional investors also recently bought and sold shares of the company. Baader Bank Aktiengesellschaft raised its holdings in shares of TC Energy by 4.4% during the first quarter. Baader Bank Aktiengesellschaft now owns 6,325 shares of the pipeline company's stock worth $289,000 after purchasing an additional 264 shares during the last quarter. Benjamin Edwards Inc. raised its holdings in shares of TC Energy by 1.7% during the fourth quarter. Benjamin Edwards Inc. now owns 16,003 shares of the pipeline company's stock worth $745,000 after purchasing an additional 273 shares during the last quarter. Avantax Advisory Services Inc. raised its holdings in shares of TC Energy by 3.6% during the first quarter. Avantax Advisory Services Inc. now owns 9,908 shares of the pipeline company's stock worth $468,000 after purchasing an additional 344 shares during the last quarter. FSM Wealth Advisors LLC raised its holdings in shares of TC Energy by 9.2% during the first quarter. FSM Wealth Advisors LLC now owns 5,152 shares of the pipeline company's stock worth $243,000 after purchasing an additional 432 shares during the last quarter. Finally, Natixis Advisors LLC raised its holdings in shares of TC Energy by 0.7% during the first quarter. Natixis Advisors LLC now owns 69,976 shares of the pipeline company's stock worth $3,304,000 after purchasing an additional 456 shares during the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Price Performance

TRP traded down $0.18 on Friday, reaching $51.04. 1,218,308 shares of the company's stock were exchanged, compared to its average volume of 1,510,380. The stock has a market cap of $53.08 billion, a PE ratio of 17.42, a P/E/G ratio of 4.89 and a beta of 0.75. TC Energy Corporation has a twelve month low of $39.79 and a twelve month high of $51.99. The stock's fifty day moving average price is $48.40 and its 200-day moving average price is $48.10. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.61 and a quick ratio of 0.54.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its quarterly earnings results on Thursday, July 31st. The pipeline company reported $0.59 earnings per share for the quarter, topping analysts' consensus estimates of $0.56 by $0.03. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $2.56 billion. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. During the same period in the previous year, the business posted $0.79 earnings per share. Sell-side analysts expect that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 29th will be given a dividend of $0.6148 per share. The ex-dividend date is Monday, September 29th. This is a boost from TC Energy's previous quarterly dividend of $0.61. This represents a $2.46 dividend on an annualized basis and a yield of 4.8%. TC Energy's dividend payout ratio (DPR) is presently 83.62%.

Analyst Upgrades and Downgrades

TRP has been the subject of a number of recent analyst reports. Barclays reaffirmed an "overweight" rating on shares of TC Energy in a report on Thursday. Cibc World Mkts raised shares of TC Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, May 2nd. Finally, CIBC raised shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, TC Energy has a consensus rating of "Moderate Buy" and a consensus price target 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.