TC Energy Corporation $TRP Shares Sold by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. trimmed its holdings in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 57.4% in the third quarter, Holdings Channel reports. 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 large investors also recently bought and sold shares of the company. Canada Pension Plan Investment Board purchased a new position in shares of TC Energy during the second quarter worth $1,148,244,000. GQG Partners LLC purchased a new stake in shares of TC Energy in the 2nd quarter valued at approximately $1,107,936,000. Deutsche Bank AG raised its stake in TC Energy by 1.3% in the second quarter. Deutsche Bank AG now owns 15,821,521 shares of the pipeline company’s stock valued at $1,048,809,000 after buying an additional 196,543 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of TC Energy during the 2nd quarter worth about $977,976,000. Finally, TD Waterhouse Canada Inc. lifted its position in shares of TC Energy by 0.4% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 10,660,905 shares of the pipeline company’s stock worth $623,355,000 after buying an additional 40,969 shares during the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. TD Securities reaffirmed a “buy” rating on shares of TC Energy in a research report on Friday, October 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of TC Energy in a report on Thursday, October 29th. Scotiabank reiterated an “outperform” rating on shares of TC Energy in a research report on Tuesday, July 21st. Wall Street Zen lowered TC Energy from a “hold” rating to a “sell” rating in a report on Saturday, November 7th. Finally, The Goldman Sachs Group raised shares of TC Energy from a “neutral” rating to a “buy” rating and set a $71.00 price target on the stock in a research note on Wednesday, September 30th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $93.75.

TC Energy Stock Up 0.4%

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

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

TC Energy Dividend Announcement

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