Squarepoint Ops LLC Buys 57,848 Shares of TC Energy Co. (NYSE:TRP)

Squarepoint Ops LLC boosted its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 315.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 76,186 shares of the pipeline company’s stock after purchasing an additional 57,848 shares during the quarter. Squarepoint Ops LLC’s holdings in TC Energy were worth $2,887,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. EdgeRock Capital LLC acquired a new position in shares of TC Energy during the second quarter worth approximately $25,000. Creekmur Asset Management LLC acquired a new position in shares of TC Energy during the fourth quarter worth approximately $27,000. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of TC Energy by 138.8% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock worth $28,000 after buying an additional 429 shares during the last quarter. OLD Point Trust & Financial Services N A acquired a new position in shares of TC Energy during the fourth quarter worth approximately $31,000. Finally, Mather Group LLC. acquired a new position in shares of TC Energy during the second quarter worth approximately $33,000. Institutional investors own 83.13% of the company’s stock.

Analyst Ratings Changes

TRP has been the subject of a number of recent research reports. Barclays upgraded TC Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, July 17th. StockNews.com began coverage on TC Energy in a research report on Friday, September 27th. They issued a “hold” rating for the company. Finally, UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $43.50.

TC Energy Stock Down 9.0 %

Shares of TRP stock opened at $44.04 on Thursday. The stock has a market cap of $44.04 billion, a P/E ratio of 22.70, a price-to-earnings-growth ratio of 3.80 and a beta of 0.81. The stock has a fifty day moving average price of $45.05 and a 200 day moving average price of $40.74. TC Energy Co. has a one year low of $32.51 and a one year high of $48.42. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.76 and a quick ratio of 0.68.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.29. The company had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.78 billion. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. During the same period last year, the business earned $0.71 earnings per share. Analysts predict that TC Energy Co. will post 3.08 earnings per share for the current year.

TC Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be issued a dividend of $0.702 per share. 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 6.38%. TC Energy’s 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.