Deutsche Bank AG lifted its position in TC Energy Corporation (NYSE:TRP – Free Report) (TSE:TRP) by 63.2% in the fourth quarter, Holdings Channel reports. The firm owned 15,384,255 shares of the pipeline company’s stock after acquiring an additional 5,956,263 shares during the period. Deutsche Bank AG’s holdings in TC Energy were worth $846,288,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently made changes to their positions in the company. Mesirow Financial Investment Management Inc. boosted its position in shares of TC Energy by 2.0% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 9,991 shares of the pipeline company’s stock valued at $544,000 after purchasing an additional 200 shares during the period. Gold Investment Management Ltd. boosted its position in shares of TC Energy by 2.0% in the 4th quarter. Gold Investment Management Ltd. now owns 9,964 shares of the pipeline company’s stock valued at $549,000 after purchasing an additional 200 shares during the period. Kennebec Savings Bank boosted its position in shares of TC Energy by 2.1% in the 4th quarter. Kennebec Savings Bank now owns 9,854 shares of the pipeline company’s stock valued at $542,000 after purchasing an additional 203 shares during the period. JCIC Asset Management Inc. boosted its position in shares of TC Energy by 6.2% in the 4th quarter. JCIC Asset Management Inc. now owns 3,746 shares of the pipeline company’s stock valued at $206,000 after purchasing an additional 220 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in shares of TC Energy by 5.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 4,223 shares of the pipeline company’s stock valued at $232,000 after purchasing an additional 232 shares during the period. 83.13% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research firms have commented on TRP. TD Securities reaffirmed a “hold” rating on shares of TC Energy in a research note on Monday, May 4th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of TC Energy in a research note on Monday, February 16th. Citigroup reaffirmed a “neutral” rating on shares of TC Energy in a research note on Thursday, February 19th. Wall Street Zen raised TC Energy from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, Barclays reaffirmed an “overweight” rating on shares of TC Energy in a research note on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $78.50.
TC Energy Stock Performance
Shares of TRP stock opened at $68.14 on Wednesday. The company has a market cap of $68.14 billion, a price-to-earnings ratio of 29.58 and a beta of 0.66. The stock has a 50 day simple moving average of $65.29 and a 200-day simple moving average of $60.76. TC Energy Corporation has a 12-month low of $46.29 and a 12-month high of $71.47. The company has a current ratio of 0.65, a quick ratio of 0.57 and a debt-to-equity ratio of 1.67.
TC Energy (NYSE:TRP – Get Free Report) (TSE:TRP) last issued its earnings results on Friday, May 1st. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. The business had revenue of $2.04 billion during the quarter, compared to the consensus estimate 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. On average, equities analysts forecast that TC Energy Corporation will post 2.75 EPS for the current year.
TC Energy Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.8775 per share. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend is Tuesday, June 30th. TC Energy’s dividend payout ratio is 109.57%.
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.
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