Yaupon Capital Management LP Sells 515,080 Shares of TC Energy Corporation $TRP

Key Points

• Yaupon Capital Management LP reduced its stake in TC Energy Corporation by 48.8%, selling 515,080 shares during the first quarter, leaving it with 539,615 shares valued at approximately $25.5 million.
• In contrast, Goldman Sachs Group Inc. significantly increased its position in TC Energy by a staggering 2,565.1%, acquiring over 15.6 million additional shares worth about $769.8 million.
• TC Energy announced a quarterly dividend increase, with shareholders set to receive $0.6148 per share, reflecting a yield of 4.7% based on the company's latest stock price.

Yaupon Capital Management LP cut its stake in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 48.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 539,615 shares of the pipeline company's stock after selling 515,080 shares during the quarter. TC Energy makes up approximately 1.3% of Yaupon Capital Management LP's investment portfolio, making the stock its 22nd largest holding. Yaupon Capital Management LP owned approximately 0.05% of TC Energy worth $25,475,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Baader Bank Aktiengesellschaft grew its stake in 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 buying an additional 264 shares in the last quarter. Compound Planning Inc. lifted its holdings in shares of TC Energy by 2.1% during the 1st quarter. Compound Planning Inc. now owns 13,806 shares of the pipeline company's stock worth $652,000 after acquiring an additional 288 shares during the period. Prudential PLC boosted its position in shares of TC Energy by 5.2% during the 1st quarter. Prudential PLC now owns 6,536 shares of the pipeline company's stock worth $309,000 after acquiring an additional 326 shares in the last quarter. Avantax Advisory Services Inc. increased its stake in TC Energy by 3.6% in the first quarter. Avantax Advisory Services Inc. now owns 9,908 shares of the pipeline company's stock valued at $468,000 after acquiring an additional 344 shares during the last quarter. Finally, FSM Wealth Advisors LLC raised its position in TC Energy by 9.2% during the first quarter. FSM Wealth Advisors LLC now owns 5,152 shares of the pipeline company's stock valued at $243,000 after purchasing an additional 432 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company's stock.

TC Energy Trading Up 0.4%

Shares of NYSE:TRP traded up $0.20 during midday trading on Friday, hitting $52.31. 2,101,287 shares of the stock were exchanged, compared to its average volume of 2,280,804. TC Energy Corporation has a 12 month low of $40.76 and a 12 month high of $52.49. 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 stock has a market capitalization of $54.39 billion, a price-to-earnings ratio of 17.85, a P/E/G ratio of 4.97 and a beta of 0.77. The business's 50-day moving average price is $49.60 and its 200 day moving average price is $48.79.

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 (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.03. The firm had revenue of $1.82 billion during the quarter, compared to analysts' expectations 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 prior year, the company posted $0.79 EPS. Analysts predict that TC Energy Corporation will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 29th will be given a $0.6148 dividend. This is a boost from TC Energy's previous quarterly dividend of $0.61. The ex-dividend date is Monday, September 29th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 4.7%. TC Energy's dividend payout ratio is presently 85.32%.

Analysts Set New Price Targets

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