Deutsche Bank AG Boosts Stock Position in TC Energy Corporation $TRP

Deutsche Bank AG lifted its position in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 63.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,384,255 shares of the pipeline company’s stock after buying an additional 5,956,263 shares during the quarter. Deutsche Bank AG owned approximately 1.48% of TC Energy worth $846,288,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Advisors Asset Management Inc. grew its stake in TC Energy by 38.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 88,140 shares of the pipeline company’s stock worth $4,796,000 after purchasing an additional 24,617 shares in the last quarter. Citigroup Inc. grew its stake in TC Energy by 19.2% during the 3rd quarter. Citigroup Inc. now owns 378,086 shares of the pipeline company’s stock worth $20,562,000 after purchasing an additional 61,013 shares in the last quarter. Vanguard Group Inc. grew its stake in TC Energy by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 46,821,474 shares of the pipeline company’s stock worth $2,545,777,000 after purchasing an additional 914,168 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in TC Energy by 80.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 526,181 shares of the pipeline company’s stock worth $28,945,000 after purchasing an additional 234,594 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in TC Energy by 4.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,237,084 shares of the pipeline company’s stock worth $611,410,000 after purchasing an additional 512,759 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on TRP shares. TD Securities reissued a “hold” rating on shares of TC Energy in a research note on Monday, May 4th. National Bank Financial raised TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 4th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of TC Energy in a research note on Tuesday, May 26th. Royal Bank Of Canada boosted their target price on TC Energy from $92.00 to $95.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of TC Energy in a research note on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, TC Energy currently has an average rating of “Moderate Buy” and an average price target of $78.50.

TC Energy Trading Down 0.2%

NYSE:TRP opened at $68.14 on Wednesday. The stock has a 50-day simple moving average of $65.29 and a 200-day simple moving average of $60.76. The stock has a market cap of $68.14 billion, a P/E ratio of 29.58 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 company has a debt-to-equity ratio of 1.67, a quick ratio of 0.57 and a current ratio of 0.65.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Friday, May 1st. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, beating 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 firm earned $0.95 EPS. As a group, analysts anticipate that TC Energy Corporation will post 2.75 earnings per share for the current fiscal year.

TC Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be given a $0.8775 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.2%. TC Energy’s dividend payout ratio is 109.57%.

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.