26,000 Shares in TC Energy Co. (NYSE:TRP) Acquired by Erste Asset Management GmbH

Erste Asset Management GmbH bought a new position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 26,000 shares of the pipeline company’s stock, valued at approximately $1,216,000.

Other large investors have also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board lifted its position in shares of TC Energy by 107.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 19,462,155 shares of the pipeline company’s stock valued at $737,609,000 after acquiring an additional 10,065,000 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of TC Energy by 156.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company’s stock worth $321,778,000 after purchasing an additional 4,126,801 shares during the period. Merewether Investment Management LP purchased a new stake in shares of TC Energy during the second quarter valued at $112,618,000. Marshall Wace LLP boosted its position in shares of TC Energy by 841.1% in the 2nd quarter. Marshall Wace LLP now owns 2,040,863 shares of the pipeline company’s stock valued at $77,349,000 after purchasing an additional 1,824,008 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in TC Energy in the 2nd quarter worth about $50,257,000. 83.13% of the stock is currently owned by institutional investors.

TC Energy Price Performance

Shares of NYSE:TRP opened at $48.65 on Wednesday. The firm has a market cap of $50.50 billion, a price-to-earnings ratio of 13.48, a P/E/G ratio of 4.05 and a beta of 0.82. TC Energy Co. has a 1 year low of $31.83 and a 1 year high of $50.37. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78. The business has a fifty day simple moving average of $47.55 and a 200 day simple moving average of $43.75.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.83 billion. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. As a group, sell-side analysts predict that TC Energy Co. will post 3 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $0.822 dividend. This represents a $3.29 annualized dividend and a yield of 6.76%. This is an increase from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, December 31st. TC Energy’s payout ratio is currently 78.95%.

Analyst Ratings Changes

A number of research firms have commented on TRP. Veritas raised shares of TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. BMO Capital Markets raised their price objective on shares of TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 20th. JPMorgan Chase & Co. raised shares of TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. StockNews.com assumed coverage on TC Energy in a report on Wednesday. They issued a “hold” rating for the company. Finally, Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $55.67.

TC Energy Company Profile

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through five segments: Canadian Natural Gas Pipelines; U.S. Natural Gas Pipelines; Mexico Natural Gas Pipelines; Liquids Pipelines; and Power and Energy Solutions. The company builds and operates a network of 93,600 kilometers of natural gas pipelines, which transports natural gas from supply basins to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other businesses.