ASR Vermogensbeheer N.V. Boosts Stake in TC Energy Corporation $TRP

ASR Vermogensbeheer N.V. boosted its stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 8.4% in the second quarter, Holdings Channel reports. The institutional investor owned 61,839 shares of the pipeline company’s stock after acquiring an additional 4,815 shares during the period. ASR Vermogensbeheer N.V.’s holdings in TC Energy were worth $3,013,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in TC Energy by 1.6% during the first quarter. Vanguard Group Inc. now owns 44,397,978 shares of the pipeline company’s stock worth $2,096,739,000 after buying an additional 710,837 shares during the period. Canada Pension Plan Investment Board lifted its holdings in TC Energy by 34.2% during the first quarter. Canada Pension Plan Investment Board now owns 19,808,558 shares of the pipeline company’s stock worth $935,627,000 after buying an additional 5,053,228 shares during the period. TD Asset Management Inc lifted its holdings in TC Energy by 6.2% during the first quarter. TD Asset Management Inc now owns 17,455,740 shares of the pipeline company’s stock worth $824,243,000 after buying an additional 1,018,590 shares during the period. Bank of Nova Scotia lifted its holdings in TC Energy by 80.3% during the first quarter. Bank of Nova Scotia now owns 16,983,443 shares of the pipeline company’s stock worth $802,164,000 after buying an additional 7,562,887 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of TC Energy by 2,565.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 16,306,187 shares of the pipeline company’s stock valued at $769,815,000 after purchasing an additional 15,694,336 shares during the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of TC Energy in a report on Saturday, September 27th. Barclays reiterated an “overweight” rating on shares of TC Energy in a report on Thursday, August 14th. Wall Street Zen lowered TC Energy from a “hold” rating to a “sell” rating in a report on Friday. Finally, US Capital Advisors lowered TC Energy from a “moderate buy” rating to a “hold” rating in a report on Thursday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $62.00.

TC Energy Stock Performance

Shares of TRP stock opened at $55.16 on Friday. The firm has a market capitalization of $57.38 billion, a price-to-earnings ratio of 18.83, a price-to-earnings-growth ratio of 5.21 and a beta of 0.75. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.61 and a quick ratio of 0.54. The business has a fifty day moving average of $51.37 and a 200 day moving average of $49.61. TC Energy Corporation has a 1 year low of $43.51 and a 1 year high of $55.34.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Thursday, July 31st. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.03. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $2.56 billion. TC Energy had a return on equity of 11.22% and a net margin of 28.98%.During the same quarter last year, the business posted $0.79 EPS. As a group, research analysts expect that TC Energy Corporation will post 2.63 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, October 31st. Investors of record on Monday, September 29th will be paid a $0.6148 dividend. This is a positive change from TC Energy’s previous quarterly dividend of $0.61. The ex-dividend date is Monday, September 29th. This represents a $2.46 dividend on an annualized basis and a yield of 4.5%. TC Energy’s dividend payout ratio (DPR) is 84.30%.

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.