Allianz Asset Management GmbH Buys 56,566 Shares of TC Energy Co. (NYSE:TRP)

Allianz Asset Management GmbH increased its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 5.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,086,132 shares of the pipeline company’s stock after purchasing an additional 56,566 shares during the quarter. Allianz Asset Management GmbH owned about 0.10% of TC Energy worth $50,591,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. First Bank & Trust grew its stake in shares of TC Energy by 0.6% during the fourth quarter. First Bank & Trust now owns 58,396 shares of the pipeline company’s stock valued at $2,717,000 after purchasing an additional 347 shares during the last quarter. Corps Capital Advisors LLC bought a new stake in shares of TC Energy during the fourth quarter valued at approximately $518,000. Alberta Investment Management Corp grew its stake in shares of TC Energy by 3.8% during the fourth quarter. Alberta Investment Management Corp now owns 2,868,232 shares of the pipeline company’s stock valued at $133,600,000 after purchasing an additional 104,973 shares during the last quarter. Global Retirement Partners LLC grew its stake in shares of TC Energy by 7.2% during the fourth quarter. Global Retirement Partners LLC now owns 4,099 shares of the pipeline company’s stock valued at $191,000 after purchasing an additional 274 shares during the last quarter. Finally, Lorne Steinberg Wealth Management Inc. lifted its holdings in TC Energy by 1.1% in the fourth quarter. Lorne Steinberg Wealth Management Inc. now owns 178,069 shares of the pipeline company’s stock valued at $8,290,000 after buying an additional 1,967 shares during the period. 83.13% of the stock is owned by institutional investors.

TC Energy Trading Down 1.3 %

TRP opened at $44.94 on Friday. The firm’s fifty day moving average is $46.48 and its two-hundred day moving average is $46.66. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55. The firm has a market cap of $46.70 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 4.34 and a beta of 0.81. TC Energy Co. has a twelve month low of $31.83 and a twelve month high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.54. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.42 billion. During the same period last year, the business posted $1.35 earnings per share. Equities research analysts anticipate that TC Energy Co. will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.57%. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, March 31st. TC Energy’s dividend payout ratio (DPR) is presently 70.68%.

Analyst Upgrades and Downgrades

TRP has been the topic of several analyst reports. BMO Capital Markets increased their price objective on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. StockNews.com upgraded shares of TC Energy from a “hold” rating to a “buy” rating in a report on Wednesday. US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. Royal Bank of Canada increased their price objective on shares of TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Finally, TD Securities initiated coverage on shares of TC Energy in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $62.00.

TC Energy 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.