Jefferies Financial Group Inc. Purchases New Shares in TC Energy Corporation $TRP

Jefferies Financial Group Inc. acquired a new position in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 200,341 shares of the pipeline company’s stock, valued at approximately $13,247,000.

A number of other large investors also recently added to or reduced their stakes in the stock. Ontario Teachers Pension Plan Board purchased a new position in shares of TC Energy in the second quarter valued at approximately $273,917,000. Korea Investment CORP purchased a new stake in shares of TC Energy during the second quarter worth approximately $30,152,000. Canada Pension Plan Investment Board purchased a new stake in shares of TC Energy during the second quarter worth approximately $1,148,244,000. Generali Asset Management SPA SGR raised its stake in TC Energy by 261.0% in the 4th quarter. Generali Asset Management SPA SGR now owns 74,906 shares of the pipeline company’s stock valued at $4,121,000 after purchasing an additional 54,154 shares during the last quarter. Finally, BROOKFIELD Corp ON raised its stake in TC Energy by 8.9% in the 1st quarter. BROOKFIELD Corp ON now owns 1,735,576 shares of the pipeline company’s stock valued at $108,647,000 after purchasing an additional 141,556 shares during the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on TRP shares. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of TC Energy in a research note on Tuesday, May 26th. Morgan Stanley cut shares of TC Energy from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, June 10th. National Bank Financial raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 4th. Weiss Ratings restated a “buy (b)” rating on shares of TC Energy in a research report on Friday, July 31st. Finally, TD Securities reaffirmed a “hold” rating on shares of TC Energy in a research note on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $89.00.

TC Energy Stock Performance

NYSE:TRP opened at $62.02 on Friday. The company’s 50-day moving average is $66.45 and its two-hundred day moving average is $65.36. TC Energy Corporation has a 1-year low of $49.27 and a 1-year high of $71.47. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.61 and a quick ratio of 0.54. The firm has a market capitalization of $64.63 billion, a price-to-earnings ratio of 25.74 and a beta of 0.66.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Thursday, July 30th. The pipeline company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.07. TC Energy had a net margin of 22.91% and a return on equity of 11.10%. The business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.76 billion. During the same quarter last year, the firm earned $0.82 EPS. Analysts forecast that TC Energy Corporation will post 2.78 EPS for the current year.

TC Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Tuesday, September 29th will be paid a dividend of $0.8775 per share. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $3.51 annualized dividend and a yield of 5.7%. TC Energy’s dividend payout ratio (DPR) is 102.49%.

TC Energy Company Profile

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.