Allianz Asset Management GmbH Has $50.59 Million Stake in TC Energy Co. (NYSE:TRP)

Allianz Asset Management GmbH boosted its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 5.5% in the fourth quarter, Holdings Channel reports. The firm owned 1,086,132 shares of the pipeline company’s stock after purchasing an additional 56,566 shares during the quarter. Allianz Asset Management GmbH’s holdings in TC Energy were worth $50,591,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in TRP. Fortitude Family Office LLC bought a new position in TC Energy in the third quarter valued at $28,000. Blue Trust Inc. grew its position in TC Energy by 72.0% in the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 267 shares in the last quarter. Versant Capital Management Inc bought a new position in TC Energy in the fourth quarter valued at $33,000. Point72 DIFC Ltd bought a new position in TC Energy in the third quarter valued at $39,000. Finally, UMB Bank n.a. bought a new position in TC Energy in the fourth quarter valued at $47,000. Institutional investors own 83.13% of the company’s stock.

TC Energy Stock Performance

Shares of TRP stock opened at $44.94 on Friday. The company has a market capitalization of $46.70 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 4.34 and a beta of 0.81. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55. The company has a 50-day simple moving average of $46.48 and a 200 day simple moving average of $46.66. TC Energy Co. has a 52 week low of $31.83 and a 52 week high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Friday, February 14th. The pipeline company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.51 by $0.54. The business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.42 billion. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. During the same quarter in the previous year, the firm posted $1.35 EPS. On average, sell-side analysts predict that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.85 per share. This is an increase from TC Energy’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.40 annualized dividend and a dividend yield of 7.57%. TC Energy’s payout ratio is presently 70.68%.

Analyst Ratings Changes

A number of research analysts recently weighed in on TRP shares. BMO Capital Markets raised their target price on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research report on Wednesday, November 20th. US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. Royal Bank of Canada lifted their price objective on shares of TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Veritas raised shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. Finally, StockNews.com raised shares of TC Energy from a “hold” rating to a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $62.00.

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.