Allianz Asset Management GmbH Raises Holdings in TC Energy Co. (NYSE:TRP)

Allianz Asset Management GmbH lifted its position in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 5.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,086,132 shares of the pipeline company's stock after purchasing an additional 56,566 shares during the period. Allianz Asset Management GmbH owned about 0.10% of TC Energy worth $50,591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fortitude Family Office LLC purchased a new position in shares of TC Energy in the third quarter valued at about $28,000. Blue Trust Inc. grew its position in shares of TC Energy by 72.0% during the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company's stock worth $30,000 after purchasing an additional 267 shares in the last quarter. Versant Capital Management Inc purchased a new stake in shares of TC Energy during the fourth quarter worth about $33,000. Point72 DIFC Ltd bought a new stake in TC Energy during the 3rd quarter valued at approximately $39,000. Finally, UMB Bank n.a. purchased a new position in TC Energy in the 4th quarter worth approximately $47,000. 83.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on TRP shares. BMO Capital Markets lifted their price objective on shares of TC Energy from $66.00 to $70.00 and gave the company a "market perform" rating in a research report on Wednesday, November 20th. US Capital Advisors upgraded shares of TC Energy from a "hold" rating to a "moderate buy" rating in a report on Monday, February 3rd. TD Securities assumed coverage on shares of TC Energy in a report on Wednesday, January 15th. They set a "buy" rating for the company. 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 upgraded TC Energy from a "hold" rating to a "buy" rating in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $62.00.

TC Energy Trading Up 0.3 %

NYSE TRP traded up $0.12 during trading hours on Wednesday, hitting $44.41. 1,337,212 shares of the company were exchanged, compared to its average volume of 2,085,957. TC Energy Co. has a 52 week low of $31.83 and a 52 week high of $50.37. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56. The stock has a 50-day moving average price of $46.41 and a 200 day moving average price of $46.70. The stock has a market cap of $46.15 billion, a PE ratio of 13.71, a price-to-earnings-growth ratio of 4.34 and a beta of 0.81.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.54. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.42 billion. During the same quarter in the prior year, the firm posted $1.35 EPS. Analysts forecast that TC Energy Co. will post 2.63 earnings per share for the current fiscal 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 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. This represents a $3.40 dividend on an annualized basis and a yield of 7.66%. TC Energy's dividend payout ratio (DPR) is presently 71.91%.

About TC Energy

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.