Quadrature Capital Ltd Sells 1,773,300 Shares of TC Energy Co. (NYSE:TRP)

Quadrature Capital Ltd reduced its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 95.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 87,800 shares of the pipeline company’s stock after selling 1,773,300 shares during the quarter. Quadrature Capital Ltd’s holdings in TC Energy were worth $3,436,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. EdgeRock Capital LLC purchased a new position in shares of TC Energy in the fourth quarter worth $25,000. Bruce G. Allen Investments LLC purchased a new position in shares of TC Energy in the fourth quarter worth $26,000. Creekmur Asset Management LLC purchased a new position in shares of TC Energy in the fourth quarter worth $27,000. Glassman Wealth Services lifted its holdings in shares of TC Energy by 61.0% in the fourth quarter. Glassman Wealth Services now owns 726 shares of the pipeline company’s stock worth $28,000 after buying an additional 275 shares in the last quarter. Finally, OLD Point Trust & Financial Services N A purchased a new position in shares of TC Energy in the fourth quarter worth $31,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Price Performance

TC Energy stock opened at $38.11 on Wednesday. The company has a market cap of $38.11 billion, a price-to-earnings ratio of 19.64, a PEG ratio of 3.18 and a beta of 0.79. The firm’s fifty day moving average is $37.69 and its 200 day moving average is $38.75. The company has a quick ratio of 0.85, a current ratio of 0.94 and a debt-to-equity ratio of 1.64. TC Energy Co. has a 52-week low of $32.51 and a 52-week high of $41.03.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Friday, May 3rd. The pipeline company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.09. TC Energy had a net margin of 17.23% and a return on equity of 17.94%. The business had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.12 billion. Sell-side analysts forecast that TC Energy Co. will post 3 EPS for the current fiscal year.

TC Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 7.45%. The ex-dividend date is Friday, June 28th. TC Energy’s dividend payout ratio (DPR) is 145.88%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TRP. TheStreet raised shares of TC Energy from a “c+” rating to a “b-” rating in a report on Wednesday, March 20th. Jefferies Financial Group started coverage on shares of TC Energy in a research note on Tuesday, February 27th. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, TC Energy currently has an average rating of “Hold” and a consensus price target of $48.83.

About TC Energy

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.