Assenagon Asset Management S.A. Has $1.54 Million Stake in TC Energy Co. (NYSE:TRP)

Assenagon Asset Management S.A. grew its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 19.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 32,312 shares of the pipeline company’s stock after purchasing an additional 5,275 shares during the quarter. Assenagon Asset Management S.A.’s holdings in TC Energy were worth $1,538,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Intech Investment Management LLC bought a new stake in TC Energy during the 1st quarter worth about $1,159,000. M&G Plc bought a new stake in shares of TC Energy during the first quarter valued at approximately $111,587,000. Cetera Investment Advisers increased its holdings in shares of TC Energy by 74.1% in the first quarter. Cetera Investment Advisers now owns 98,729 shares of the pipeline company’s stock valued at $3,972,000 after purchasing an additional 42,024 shares in the last quarter. Headlands Technologies LLC raised its position in TC Energy by 49,890.3% in the 1st quarter. Headlands Technologies LLC now owns 15,497 shares of the pipeline company’s stock worth $623,000 after purchasing an additional 15,466 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in TC Energy by 2.6% during the 2nd quarter. CIBC Asset Management Inc now owns 8,515,086 shares of the pipeline company’s stock worth $322,584,000 after buying an additional 214,689 shares in the last quarter. Institutional investors own 83.13% of the company’s stock.

TC Energy Trading Down 0.5 %

Shares of NYSE TRP opened at $46.30 on Friday. TC Energy Co. has a twelve month low of $31.83 and a twelve month high of $48.25. The stock has a market cap of $48.05 billion, a price-to-earnings ratio of 18.98, a P/E/G ratio of 3.85 and a beta of 0.81. The company has a quick ratio of 0.68, a current ratio of 0.76 and a debt-to-equity ratio of 1.57. The company’s fifty day moving average is $46.39 and its 200-day moving average is $41.84.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.29. The firm had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.78 billion. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. During the same period in the previous year, the firm earned $0.71 earnings per share. Equities research analysts predict that TC Energy Co. will post 3.02 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TRP. StockNews.com began coverage on TC Energy in a research report on Saturday, October 5th. They set a “hold” rating for the company. Morgan Stanley raised shares of TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. Barclays raised shares of TC Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, July 17th. Veritas raised shares of TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. Finally, JPMorgan Chase & Co. raised TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. Two analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $48.50.

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.