Erste Asset Management GmbH purchased a new position in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 26,000 shares of the pipeline company's stock, valued at approximately $1,216,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EdgeRock Capital LLC purchased a new position in shares of TC Energy in the 2nd quarter valued at about $25,000. Whittier Trust Co. of Nevada Inc. increased its stake in shares of TC Energy by 138.8% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company's stock valued at $28,000 after purchasing an additional 429 shares in the last quarter. Fortitude Family Office LLC purchased a new position in shares of TC Energy in the 3rd quarter valued at about $28,000. Blue Trust Inc. increased its stake in shares of TC Energy by 72.0% in the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company's stock valued at $30,000 after purchasing an additional 267 shares in the last quarter. Finally, Mather Group LLC. purchased a new position in shares of TC Energy in the 2nd quarter valued at about $33,000. Institutional investors and hedge funds own 83.13% of the company's stock.
TC Energy Stock Performance
Shares of TRP stock traded up $0.36 during mid-day trading on Wednesday, hitting $49.02. 2,719,955 shares of the stock were exchanged, compared to its average volume of 3,035,413. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31. The stock has a market capitalization of $50.88 billion, a price-to-earnings ratio of 13.58, a P/E/G ratio of 4.05 and a beta of 0.82. TC Energy Co. has a 12-month low of $31.83 and a 12-month high of $50.37. The stock's fifty day simple moving average is $47.57 and its two-hundred day simple moving average is $43.79.
TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its earnings results on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.70 by $0.06. The firm had revenue of $2.99 billion during the quarter, compared to analysts' expectations of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. On average, analysts forecast that TC Energy Co. will post 3 EPS for the current year.
TC Energy Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.822 per share. This represents a $3.29 dividend on an annualized basis and a yield of 6.71%. This is a boost from TC Energy's previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, December 31st. TC Energy's dividend payout ratio is 78.95%.
Analyst Ratings Changes
Several equities research analysts have commented on the company. The Goldman Sachs Group boosted their price objective on TC Energy from $38.00 to $42.00 and gave the stock a "sell" rating in a research note on Monday, October 21st. Morgan Stanley upgraded TC Energy from an "underweight" rating to an "overweight" rating in a research note on Friday, October 25th. JPMorgan Chase & Co. upgraded TC Energy from a "neutral" rating to an "overweight" rating in a research note on Monday, October 14th. BMO Capital Markets boosted their price objective on TC Energy from $66.00 to $70.00 and gave the stock a "market perform" rating in a research note on Wednesday, November 20th. Finally, UBS Group upgraded TC Energy from a "neutral" rating to a "buy" rating in a research note on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $55.67.
Check Out Our Latest Stock Analysis on TRP
About TC Energy
(
Free Report)
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.
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