Deutsche Bank AG Increases Stock Position in TC Energy Co. (NYSE:TRP)

Deutsche Bank AG increased its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 16.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,093,341 shares of the pipeline company’s stock after acquiring an additional 293,500 shares during the quarter. Deutsche Bank AG owned approximately 0.20% of TC Energy worth $97,403,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TRP. NTV Asset Management LLC grew its holdings in TC Energy by 4.0% in the fourth quarter. NTV Asset Management LLC now owns 6,189 shares of the pipeline company’s stock valued at $288,000 after purchasing an additional 239 shares during the last quarter. Lee Financial Co boosted its position in shares of TC Energy by 3.1% in the 4th quarter. Lee Financial Co now owns 8,185 shares of the pipeline company’s stock worth $381,000 after buying an additional 246 shares in the last quarter. IFP Advisors Inc grew its stake in TC Energy by 7.0% in the 4th quarter. IFP Advisors Inc now owns 3,809 shares of the pipeline company’s stock valued at $177,000 after acquiring an additional 249 shares during the last quarter. Benjamin Edwards Inc. increased its holdings in TC Energy by 1.7% during the 4th quarter. Benjamin Edwards Inc. now owns 16,003 shares of the pipeline company’s stock valued at $745,000 after acquiring an additional 273 shares in the last quarter. Finally, Global Retirement Partners LLC raised its position in TC Energy by 7.2% during the fourth quarter. Global Retirement Partners LLC now owns 4,099 shares of the pipeline company’s stock worth $191,000 after acquiring an additional 274 shares during the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Cibc World Mkts upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 2nd. CIBC raised TC Energy from a “neutral” rating to a “sector outperform” rating in a research report on Friday, May 2nd. Royal Bank of Canada upped their price objective on TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Veritas upgraded TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. Finally, StockNews.com lowered shares of TC Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

TC Energy Stock Up 0.7%

TRP opened at $49.35 on Monday. The stock has a market capitalization of $51.31 billion, a price-to-earnings ratio of 15.23, a price-to-earnings-growth ratio of 4.34 and a beta of 0.78. TC Energy Co. has a 12 month low of $37.07 and a 12 month high of $51.34. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23. The business has a 50-day moving average of $48.12 and a two-hundred day moving average of $47.40.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Thursday, May 1st. The pipeline company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.04). The company had revenue of $1.78 billion for the quarter, compared to analyst estimates of $2.57 billion. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. During the same period last year, the company posted $1.02 EPS. On average, research analysts expect that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a $0.6142 dividend. This represents a $2.46 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date is Monday, June 30th. TC Energy’s payout ratio is currently 77.89%.

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.