XTX Topco Ltd Purchases 34,870 Shares of TC Energy Co. (NYSE:TRP)

XTX Topco Ltd boosted its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 253.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,608 shares of the pipeline company’s stock after buying an additional 34,870 shares during the period. XTX Topco Ltd’s holdings in TC Energy were worth $1,842,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of TRP. Private Advisor Group LLC acquired a new position in shares of TC Energy in the 4th quarter valued at about $208,000. Vanguard Personalized Indexing Management LLC increased its holdings in TC Energy by 13.7% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 11,035 shares of the pipeline company’s stock worth $431,000 after purchasing an additional 1,331 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in TC Energy by 6.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 73,182 shares of the pipeline company’s stock valued at $2,861,000 after buying an additional 4,222 shares during the period. Financial Advocates Investment Management boosted its holdings in shares of TC Energy by 5.4% during the 4th quarter. Financial Advocates Investment Management now owns 6,121 shares of the pipeline company’s stock worth $240,000 after buying an additional 316 shares in the last quarter. Finally, Corient Private Wealth LLC grew its position in shares of TC Energy by 25.3% during the 4th quarter. Corient Private Wealth LLC now owns 18,832 shares of the pipeline company’s stock worth $736,000 after buying an additional 3,808 shares during the period. Institutional investors own 83.13% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on TRP. StockNews.com initiated coverage on shares of TC Energy in a research report on Thursday. They set a “hold” rating on the stock. Barclays raised shares of TC Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $43.50.

TC Energy Trading Down 2.2 %

NYSE TRP opened at $45.01 on Friday. TC Energy Co. has a 52 week low of $32.51 and a 52 week high of $47.38. The business has a 50 day moving average price of $43.88 and a 200-day moving average price of $40.32. The company has a quick ratio of 0.68, a current ratio of 0.76 and a debt-to-equity ratio of 1.57. The company has a market cap of $45.01 billion, a price-to-earnings ratio of 23.20, a P/E/G ratio of 3.81 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Thursday, August 1st. The pipeline company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.29. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. The business had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.78 billion. During the same quarter in the previous year, the business posted $0.71 EPS. As a group, equities analysts expect that TC Energy Co. will post 3.06 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be issued a $0.702 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.81 dividend on an annualized basis and a dividend yield of 6.24%. TC Energy’s dividend payout ratio is presently 146.39%.

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.