Erste Asset Management GmbH Acquires Shares of 26,000 TC Energy Co. (NYSE:TRP)

Erste Asset Management GmbH bought a new position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 26,000 shares of the pipeline company’s stock, valued at approximately $1,216,000.

Other hedge funds also recently made changes to their positions in the company. EdgeRock Capital LLC acquired a new position in TC Energy in the second quarter worth $25,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of TC Energy by 138.8% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock valued at $28,000 after buying an additional 429 shares during the period. Fortitude Family Office LLC bought a new stake in shares of TC Energy during the 3rd quarter valued at about $28,000. Blue Trust Inc. raised its stake in TC Energy by 72.0% during the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after acquiring an additional 267 shares during the period. Finally, Mather Group LLC. bought a new position in TC Energy in the second quarter worth about $33,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Stock Performance

TRP stock opened at $48.65 on Wednesday. The company has a market capitalization of $50.50 billion, a P/E ratio of 13.48, a PEG ratio of 4.05 and a beta of 0.82. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78. The company has a 50-day simple moving average of $47.55 and a 200 day simple moving average of $43.75. TC Energy Co. has a fifty-two week low of $31.83 and a fifty-two week high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. The company had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.83 billion. Sell-side analysts predict that TC Energy Co. will post 3 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.822 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from TC Energy’s previous quarterly dividend of $0.70. This represents a $3.29 annualized dividend and a dividend yield of 6.76%. TC Energy’s dividend payout ratio (DPR) is 78.95%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on TRP shares. UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. BMO Capital Markets increased their target price on TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 20th. Veritas upgraded TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group increased their price objective on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a report on Monday, October 21st. Finally, JPMorgan Chase & Co. raised shares of 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, three have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, TC Energy has a consensus rating of “Hold” and a consensus target price of $55.67.

TC Energy 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.