DekaBank Deutsche Girozentrale Cuts Stock Position in TC Energy Corporation $TRP

DekaBank Deutsche Girozentrale lessened its stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 17.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 215,979 shares of the pipeline company’s stock after selling 45,447 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in TC Energy were worth $10,384,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in TC Energy by 1.6% during the 1st 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 last quarter. Canada Pension Plan Investment Board raised 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 purchasing an additional 5,053,228 shares in the last quarter. TD Asset Management Inc raised its holdings in TC Energy by 9.3% during the second quarter. TD Asset Management Inc now owns 19,074,181 shares of the pipeline company’s stock worth $929,316,000 after purchasing an additional 1,618,441 shares in the last quarter. Bank of Nova Scotia raised 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 purchasing an additional 7,562,887 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in TC Energy by 2,565.1% during the first quarter. Goldman Sachs Group Inc. now owns 16,306,187 shares of the pipeline company’s stock worth $769,815,000 after purchasing an additional 15,694,336 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Stock Performance

NYSE TRP opened at $51.00 on Friday. TC Energy Corporation has a 1-year low of $43.51 and a 1-year high of $55.37. The company has a market capitalization of $53.05 billion, a P/E ratio of 17.41, a PEG ratio of 4.91 and a beta of 0.75. The business has a 50 day moving average price of $52.34 and a 200 day moving average price of $50.03. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.61 and a quick ratio of 0.54.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Thursday, July 31st. The pipeline company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.03. TC Energy had a return on equity of 11.22% and a net margin of 28.98%.The business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter last year, the business posted $0.79 earnings per share. Sell-side analysts expect that TC Energy Corporation will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be paid a dividend of $0.6148 per share. This is a positive change from TC Energy’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Monday, September 29th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 4.8%. TC Energy’s dividend payout ratio is 84.30%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TRP. Cibc World Mkts downgraded TC Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. Weiss Ratings reiterated a “buy (b-)” rating on shares of TC Energy in a research report on Wednesday, October 8th. Barclays reiterated an “overweight” rating on shares of TC Energy in a research report on Tuesday, October 14th. US Capital Advisors downgraded shares of TC Energy from a “moderate buy” rating to a “hold” rating in a report on Thursday, August 21st. Finally, TD Securities reiterated a “buy” rating on shares of TC Energy in a report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $72.00.

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.