Swiss Life Asset Management Ltd Increases Stock Holdings in TC Energy Corporation $TRP

by · The Cerbat Gem

Swiss Life Asset Management Ltd lifted its stake in TC Energy Corporation (NYSE:TRP – Free Report) (TSE:TRP) by 99.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 142,930 shares of the pipeline company’s stock after purchasing an additional 71,391 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in TC Energy were worth $7,869,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Trust Co. of Vermont purchased a new position in shares of TC Energy in the 4th quarter worth approximately $28,000. McIlrath & Eck LLC purchased a new position in TC Energy during the 4th quarter valued at $32,000. Westside Investment Management Inc. boosted its holdings in TC Energy by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 594 shares of the pipeline company’s stock valued at $32,000 after acquiring an additional 297 shares during the period. SWAN Capital LLC purchased a new position in TC Energy during the 3rd quarter valued at $40,000. Finally, Smartleaf Asset Management LLC boosted its holdings in TC Energy by 237.4% during the 3rd quarter. Smartleaf Asset Management LLC now owns 803 shares of the pipeline company’s stock valued at $43,000 after acquiring an additional 565 shares during the period. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Analyst Ratings Changes

TRP has been the subject of a number of recent analyst reports. Scotiabank restated an “outperform” rating on shares of TC Energy in a report on Monday, May 4th. Canadian Imperial Bank of Commerce upgraded TC Energy from a “neutral” rating to a “sector outperform” rating in a report on Thursday, April 23rd. Morgan Stanley restated an “overweight” rating on shares of TC Energy in a report on Wednesday, January 28th. BMO Capital Markets restated an “outperform” rating on shares of TC Energy in a report on Monday, May 4th. Finally, The Goldman Sachs Group upgraded TC Energy from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $53.00 to $62.00 in a report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, TC Energy currently has an average rating of “Moderate Buy” and a consensus price target of $78.50.

View Our Latest Stock Analysis on TRP

TC Energy Price Performance

Shares of TRP stock opened at $66.26 on Wednesday. TC Energy Corporation has a twelve month low of $46.29 and a twelve month high of $67.31. The stock has a market capitalization of $69.03 billion, a price-to-earnings ratio of 28.76 and a beta of 0.67. The stock has a fifty day simple moving average of $63.39 and a two-hundred day simple moving average of $58.43. The company has a current ratio of 0.65, a quick ratio of 0.57 and a debt-to-equity ratio of 1.67.

TC Energy (NYSE:TRP – Get Free Report) (TSE:TRP) last issued its earnings results on Friday, May 1st. The pipeline company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.02. TC Energy had a return on equity of 10.74% and a net margin of 22.22%.The business had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same period in the prior year, the business earned $0.95 EPS. On average, analysts predict that TC Energy Corporation will post 2.75 EPS for the current fiscal year.

TC Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be issued a $0.8775 dividend. This represents a $3.51 annualized dividend and a dividend yield of 5.3%. The ex-dividend date is Tuesday, June 30th. TC Energy’s dividend payout ratio is currently 109.57%.

About TC Energy

(Free Report)

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.

Further Reading

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