JPMorgan Chase & Co. Sells 2,180,053 Shares of TC Energy Corporation $TRP

JPMorgan Chase & Co. decreased its position in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 19.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,057,031 shares of the pipeline company’s stock after selling 2,180,053 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.87% of TC Energy worth $498,227,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in TRP. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of TC Energy during the 4th quarter worth $25,000. Trust Co. of Vermont bought a new position in shares of TC Energy during the 4th quarter worth $28,000. McIlrath & Eck LLC bought a new position in shares of TC Energy during the 4th quarter worth $32,000. SWAN Capital LLC bought a new position in shares of TC Energy during the 3rd quarter worth $40,000. Finally, Smartleaf Asset Management LLC grew its position in shares of TC Energy by 237.4% during the 3rd quarter. Smartleaf Asset Management LLC now owns 803 shares of the pipeline company’s stock worth $43,000 after buying an additional 565 shares in the last quarter. Institutional investors own 83.13% of the company’s stock.

TC Energy Trading Up 1.0%

Shares of NYSE TRP opened at $68.84 on Thursday. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.65 and a quick ratio of 0.57. The stock has a market capitalization of $68.84 billion, a P/E ratio of 29.88 and a beta of 0.66. TC Energy Corporation has a 1-year low of $46.29 and a 1-year high of $71.47. The business has a fifty day moving average price of $65.41 and a 200 day moving average price of $60.86.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Friday, May 1st. The pipeline company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. The firm had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.20 billion. TC Energy had a return on equity of 10.74% and a net margin of 22.22%.During the same period in the prior year, the business posted $0.95 EPS. Equities research analysts expect that TC Energy Corporation will post 2.75 EPS for the current fiscal year.

TC Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be paid a $0.8775 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $3.51 dividend on an annualized basis and a yield of 5.1%. TC Energy’s dividend payout ratio (DPR) is 109.57%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Weiss Ratings downgraded TC Energy from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 4th. BMO Capital Markets reissued an “outperform” rating on shares of TC Energy in a research report on Monday, May 4th. Scotiabank restated an “outperform” rating on shares of TC Energy in a research note on Monday, May 4th. Wall Street Zen upgraded TC Energy from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, National Bank Financial upgraded TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, TC Energy presently has an average rating of “Moderate Buy” and an average target price of $78.50.

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.