TC Energy Corporation $TRP Stock: Jefferies Financial Group Inc. Lowers Stake

Jefferies Financial Group Inc. cut its position in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 57.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 85,290 shares of the pipeline company’s stock after selling 115,051 shares during the period. Jefferies Financial Group Inc.’s holdings in TC Energy were worth $4,939,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Groupe la Francaise increased its stake in TC Energy by 2.1% in the 1st quarter. Groupe la Francaise now owns 7,352 shares of the pipeline company’s stock worth $459,000 after buying an additional 154 shares during the period. Envestnet Portfolio Solutions Inc. lifted its stake in shares of TC Energy by 1.1% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 22,946 shares of the pipeline company’s stock worth $1,519,000 after purchasing an additional 257 shares during the last quarter. Louisbourg Investments Inc. lifted its position in shares of TC Energy by 3.0% during the third quarter. Louisbourg Investments Inc. now owns 11,421 shares of the pipeline company’s stock valued at $663,000 after buying an additional 329 shares during the last quarter. Cohen Investment Advisors LLC boosted its holdings in shares of TC Energy by 3.7% in the 3rd quarter. Cohen Investment Advisors LLC now owns 9,212 shares of the pipeline company’s stock valued at $535,000 after buying an additional 332 shares in the last quarter. Finally, Ewing Morris & Co. Investment Partners Ltd. boosted its holdings in shares of TC Energy by 1.0% in the 2nd quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 39,533 shares of the pipeline company’s stock valued at $2,642,000 after buying an additional 377 shares in the last quarter. Institutional investors own 83.13% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. The Goldman Sachs Group raised TC Energy from a “neutral” rating to a “buy” rating and set a $71.00 price objective for the company in a research report on Wednesday, September 30th. Barclays reiterated an “overweight” rating on shares of TC Energy in a research note on Thursday, July 16th. BMO Capital Markets reiterated an “outperform” rating and set a $99.00 price target on shares of TC Energy in a research report on Friday, July 31st. Weiss Ratings restated a “buy (b)” rating on shares of TC Energy in a research report on Thursday, October 29th. Finally, Jefferies Financial Group upgraded shares of TC Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, September 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $93.75.

TC Energy Price Performance

NYSE:TRP opened at $64.53 on Friday. The company has a current ratio of 0.57, a quick ratio of 0.49 and a debt-to-equity ratio of 1.61. TC Energy Corporation has a 12 month low of $52.71 and a 12 month high of $71.47. The firm has a market cap of $64.53 billion, a P/E ratio of 23.99 and a beta of 0.64. The stock has a 50 day moving average of $61.44 and a two-hundred day moving average of $64.01.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Thursday, November 5th. The pipeline company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.03. The company had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.79 billion. TC Energy had a net margin of 25.05% and a return on equity of 11.67%. During the same quarter in the previous year, the company posted $0.77 EPS. On average, analysts expect that TC Energy Corporation will post 2.81 earnings per share for the current fiscal year.

TC Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 29th. Investors of record on Thursday, December 31st will be given a dividend of C$0.88 per share. The ex-dividend date is Thursday, December 31st. This represents a $3.51 dividend on an annualized basis and a yield of 5.4%. TC Energy’s dividend payout ratio (DPR) is presently 94.05%.

TC Energy Profile

TC Energy (NYSE: TRP) is a North American energy infrastructure company that develops and operates natural gas and liquids pipelines, natural gas storage facilities, and power-generation assets. Its services help transport and store energy for producers, utilities, businesses, and consumers. The company’s pipeline network spans Canada, the United States, and Mexico. Its power-generation portfolio includes an interest in Bruce Power, which operates a nuclear generating station in Ontario. Founded as TransCanada Corporation, the company adopted the TC Energy name in 2019.