Yaupon Capital Management LP Reduces Stock Position in 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 decreased its position in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 48.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 539,615 shares of the pipeline company's stock after selling 515,080 shares during the period. TC Energy makes up 1.3% of Yaupon Capital Management LP's holdings, making the stock its 22nd biggest holding. Yaupon Capital Management LP owned about 0.05% of TC Energy worth $25,475,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in TRP. BNP Paribas Financial Markets raised its holdings in shares of TC Energy by 143,808.2% during the fourth quarter. BNP Paribas Financial Markets now owns 87,784 shares of the pipeline company's stock valued at $4,085,000 after purchasing an additional 87,723 shares during the period. Cetera Investment Advisers raised its holdings in shares of TC Energy by 4.6% during the fourth quarter. Cetera Investment Advisers now owns 103,324 shares of the pipeline company's stock valued at $4,813,000 after purchasing an additional 4,522 shares during the period. Deutsche Bank AG raised its holdings in shares of TC Energy by 16.3% during the fourth quarter. Deutsche Bank AG now owns 2,093,341 shares of the pipeline company's stock valued at $97,403,000 after purchasing an additional 293,500 shares during the period. Focus Partners Wealth raised its holdings in shares of TC Energy by 10.5% during the fourth quarter. Focus Partners Wealth now owns 8,517 shares of the pipeline company's stock valued at $396,000 after purchasing an additional 808 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in shares of TC Energy by 4.4% during the fourth quarter. Janus Henderson Group PLC now owns 1,037,808 shares of the pipeline company's stock valued at $48,335,000 after purchasing an additional 43,731 shares during the period. Institutional investors and hedge funds own 83.13% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on TRP shares. Wall Street Zen upgraded shares of TC Energy from a "sell" rating to a "hold" rating in a report on Saturday. US Capital Advisors lowered shares of TC Energy from a "moderate buy" rating to a "hold" rating in a report on Thursday, August 21st. Finally, Barclays restated an "overweight" rating on shares of TC Energy in a report on Thursday, August 14th. Two 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 given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $62.00.

TC Energy Stock Up 0.4%

TRP stock traded up $0.20 during trading on Friday, reaching $52.31. The stock had a trading volume of 2,101,287 shares, compared to its average volume of 1,560,637. TC Energy Corporation has a one year low of $40.76 and a one year high of $52.49. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.54. The company's 50 day moving average is $49.68 and its two-hundred day moving average is $48.88. The company has a market capitalization of $54.39 billion, a price-to-earnings ratio of 17.85, a P/E/G ratio of 4.99 and a beta of 0.77.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its quarterly earnings data 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. 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 during the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the prior year, the firm posted $0.79 EPS. Equities research analysts forecast that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be given a dividend of $0.6148 per share. The ex-dividend date of this dividend is Monday, September 29th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 4.7%. This is an increase from TC Energy's previous quarterly dividend of $0.61. TC Energy's payout ratio is currently 83.62%.

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.