Deutsche Bank AG Increases Stake in TC Energy Corporation $TRP

Deutsche Bank AG boosted its position in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 1.3% during the second quarter, HoldingsChannel reports. The fund owned 15,821,521 shares of the pipeline company’s stock after buying an additional 196,543 shares during the quarter. Deutsche Bank AG’s holdings in TC Energy were worth $1,048,809,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in TRP. Groupe la Francaise boosted its position in TC Energy by 2.1% during the first quarter. Groupe la Francaise now owns 7,352 shares of the pipeline company’s stock worth $459,000 after purchasing an additional 154 shares during the period. Wealthstar Advisors LLC raised its position in shares of TC Energy by 1.5% in the first quarter. Wealthstar Advisors LLC now owns 11,465 shares of the pipeline company’s stock valued at $718,000 after purchasing an additional 165 shares during the period. Gold Investment Management Ltd. raised its position in shares of TC Energy by 2.0% in the fourth quarter. Gold Investment Management Ltd. now owns 9,964 shares of the pipeline company’s stock valued at $549,000 after purchasing an additional 200 shares during the period. Nations Financial Group Inc. IA ADV lifted its stake in shares of TC Energy by 5.7% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 3,911 shares of the pipeline company’s stock valued at $245,000 after buying an additional 210 shares in the last quarter. Finally, Arax Advisory Partners lifted its stake in shares of TC Energy by 7.9% during the 4th quarter. Arax Advisory Partners now owns 3,029 shares of the pipeline company’s stock valued at $167,000 after buying an additional 221 shares in the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on TRP shares. Royal Bank Of Canada raised their price objective on shares of TC Energy from $104.00 to $106.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Weiss Ratings reissued a “buy (b)” rating on shares of TC Energy in a report on Friday, July 31st. The Goldman Sachs Group upgraded TC Energy from a “sell” rating to a “neutral” rating and increased their target price for the stock from $53.00 to $62.00 in a research report on Monday, April 20th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of TC Energy in a research report on Tuesday, May 26th. Finally, Morgan Stanley lowered TC Energy from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $89.00.

TC Energy Price Performance

TC Energy stock opened at $63.28 on Tuesday. TC Energy Corporation has a 52 week low of $49.27 and a 52 week high of $71.47. The business has a 50-day simple moving average of $67.43 and a 200 day simple moving average of $65.16. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.64. The stock has a market cap of $65.93 billion, a price-to-earnings ratio of 26.26 and a beta of 0.66.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Thursday, July 30th. The pipeline company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.07. TC Energy had a return on equity of 11.10% and a net margin of 22.91%.The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same period in the prior year, the company earned $0.82 EPS. On average, research analysts forecast that TC Energy Corporation will post 2.75 earnings per share for the current fiscal year.

TC Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Tuesday, September 29th will be given a $0.8775 dividend. This represents a $3.51 annualized dividend and a dividend yield of 5.5%. The ex-dividend date is Tuesday, September 29th. TC Energy’s dividend payout ratio is 102.49%.

TC Energy Profile

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.