Jefferies Financial Group Inc. Makes New Investment in TC Energy Corporation $TRP

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

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Groupe la Francaise boosted its position in shares of TC Energy by 2.1% during the 1st quarter. Groupe la Francaise now owns 7,352 shares of the pipeline company’s stock worth $459,000 after purchasing an additional 154 shares during the period. Wealthstar Advisors LLC raised its position in TC Energy by 1.5% in the first quarter. Wealthstar Advisors LLC now owns 11,465 shares of the pipeline company’s stock valued at $718,000 after purchasing an additional 165 shares during the period. Nations Financial Group Inc. IA ADV raised its position in TC Energy by 5.7% in the first quarter. Nations Financial Group Inc. IA ADV now owns 3,911 shares of the pipeline company’s stock valued at $245,000 after purchasing an additional 210 shares during the period. Arax Advisory Partners lifted its stake in TC Energy by 7.9% during the fourth quarter. Arax Advisory Partners now owns 3,029 shares of the pipeline company’s stock worth $167,000 after purchasing an additional 221 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of TC Energy by 5.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 4,223 shares of the pipeline company’s stock valued at $232,000 after buying an additional 232 shares in the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TRP has been the topic of several research analyst reports. Barclays reiterated an “overweight” rating on shares of TC Energy in a report on Thursday, July 16th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of TC Energy in a research report on Tuesday, May 26th. National Bank Financial upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 4th. TD Securities reissued a “hold” rating on shares of TC Energy in a research report on Thursday, July 16th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $99.00 price objective on shares of TC Energy in a research note on Friday, July 31st. One 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $89.00.

TC Energy Trading Down 1.3%

Shares of NYSE:TRP opened at $62.02 on Friday. TC Energy Corporation has a 52 week low of $49.27 and a 52 week high of $71.47. The company’s 50 day moving average is $66.45 and its two-hundred day moving average is $65.36. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.64. The company has a market cap of $64.63 billion, a PE ratio of 25.74 and a beta of 0.66.

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

TC Energy Dividend Announcement

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

About TC Energy

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.