Assenagon Asset Management S.A. Raises Stock Position in TC Energy Co. (NYSE:TRP)

Assenagon Asset Management S.A. grew its holdings in TC Energy Co. (NYSE:TRPFree Report) (TSE:TRP) by 3.5% during the 4th quarter, Holdings Channel.com reports. 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 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Fortitude Family Office LLC bought a new stake in TC Energy during the 3rd quarter valued at approximately $28,000. Blue Trust Inc. grew its holdings in TC Energy by 72.0% during the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after buying an additional 267 shares in the last quarter. Versant Capital Management Inc bought a new stake in shares of TC Energy during the fourth quarter valued at approximately $33,000. Point72 DIFC Ltd purchased a new position in shares of TC Energy in the third quarter worth $39,000. Finally, Farther Finance Advisors LLC boosted its position in shares of TC Energy by 215.7% during the third quarter. Farther Finance Advisors LLC now owns 1,209 shares of the pipeline company’s stock worth $57,000 after acquiring an additional 826 shares during the last quarter. Institutional investors own 83.13% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on TRP. BMO Capital Markets lifted their price target on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. TD Securities began coverage on TC Energy in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. StockNews.com began coverage on TC Energy in a research report on Wednesday, December 4th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. upgraded TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. Finally, UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, TC Energy has a consensus rating of “Hold” and an average target price of $55.67.

Get Our Latest Report on TC Energy

TC Energy Trading Down 0.1 %

TRP opened at $47.13 on Friday. TC Energy Co. has a 12 month low of $31.83 and a 12 month high of $50.37. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78. The stock has a 50-day moving average of $47.50 and a 200 day moving average of $45.81. The firm has a market cap of $48.97 billion, a P/E ratio of 13.06, a P/E/G ratio of 4.48 and a beta of 0.82.

TC Energy (NYSE:TRPGet Free Report) (TSE:TRP) last announced its earnings results on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. The firm had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.83 billion. As a group, research analysts forecast that TC Energy Co. will post 2.95 EPS for the current year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.822 per share. This is a boost from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, December 31st. This represents a $3.29 dividend on an annualized basis and a yield of 6.98%. TC Energy’s payout ratio is 63.43%.

TC Energy Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for TC Energy (NYSE:TRP)

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