Assenagon Asset Management S.A. Increases Holdings in TC Energy Co. (NYSE:TRP)

Assenagon Asset Management S.A. raised its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 3.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,445 shares of the pipeline company’s stock after acquiring an additional 1,133 shares during the period. Assenagon Asset Management S.A.’s holdings in TC Energy were worth $1,558,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of TRP. Fortitude Family Office LLC purchased a new stake in TC Energy during the 3rd quarter valued at $28,000. Blue Trust Inc. lifted its holdings 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 valued at $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 valued at $33,000. Point72 DIFC Ltd bought a new stake in TC Energy in the 3rd quarter worth about $39,000. Finally, Farther Finance Advisors LLC raised its position in TC Energy by 215.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,209 shares of the pipeline company’s stock worth $57,000 after buying an additional 826 shares during the last quarter. 83.13% of the stock is currently owned by institutional investors.

TC Energy Trading Down 0.1 %

Shares of TRP stock opened at $47.13 on Friday. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23. The company has a market cap of $48.97 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 4.48 and a beta of 0.82. TC Energy Co. has a 1 year low of $31.83 and a 1 year high of $50.37. The firm has a fifty day moving average price of $47.50 and a 200-day moving average price of $45.81.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.06. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. The business had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.83 billion. As a group, equities analysts predict that TC Energy Co. will post 2.95 earnings per share for the current year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a $0.822 dividend. This represents a $3.29 annualized dividend and a yield of 6.98%. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Tuesday, December 31st. TC Energy’s dividend payout ratio is currently 63.43%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TRP. JPMorgan Chase & Co. raised shares of TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. UBS Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. Veritas upgraded shares of TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group raised their price target on TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research note on Monday, October 21st. Finally, StockNews.com assumed coverage on TC Energy in a research report on Wednesday, December 4th. They set a “hold” rating for the company. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $55.67.

TC Energy Company 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.