Allianz SE Takes $7.45 Million Position in TC Energy Corporation $TRP

Allianz SE acquired a new position in TC Energy Corporation (NYSE:TRP) (TSE:TRP) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 152,807 shares of the pipeline company’s stock, valued at approximately $7,445,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of TRP. Hilltop National Bank purchased a new position in shares of TC Energy during the second quarter worth $32,000. Harbor Asset Planning Inc. purchased a new stake in shares of TC Energy during the 2nd quarter worth about $43,000. Truvestments Capital LLC acquired a new stake in shares of TC Energy during the 1st quarter valued at about $45,000. SouthState Corp increased its stake in shares of TC Energy by 2,757.1% in the 2nd quarter. SouthState Corp now owns 1,000 shares of the pipeline company’s stock valued at $49,000 after purchasing an additional 965 shares in the last quarter. Finally, SBI Securities Co. Ltd. lifted its position in shares of TC Energy by 75.3% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,166 shares of the pipeline company’s stock valued at $55,000 after buying an additional 501 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Price Performance

Shares of TRP opened at $54.81 on Thursday. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.61 and a quick ratio of 0.54. TC Energy Corporation has a 1-year low of $43.51 and a 1-year high of $55.37. The stock has a market cap of $57.03 billion, a PE ratio of 18.71, a price-to-earnings-growth ratio of 4.82 and a beta of 0.73. The firm has a fifty day moving average price of $52.29 and a 200 day moving average price of $50.40.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Thursday, November 6th. The pipeline company reported $0.56 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.56. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $2.63 billion. TC Energy had a return on equity of 11.22% and a net margin of 28.98%.During the same quarter last year, the company posted $1.03 earnings per share. As a group, sell-side analysts anticipate that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be issued a dividend of $0.85 per share. This is an increase from TC Energy’s previous quarterly dividend of $0.61. This represents a $3.40 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date of this dividend is Wednesday, December 31st. TC Energy’s dividend payout ratio is 103.88%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on TRP shares. Cibc World Mkts cut TC Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Cibc Captl Mkts raised TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. Wall Street Zen downgraded TC Energy from a “hold” rating to a “sell” rating in a research report on Friday, October 3rd. Royal Bank Of Canada lifted their target price on TC Energy from $74.00 to $84.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of TC Energy in a report on Monday, October 20th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $77.00.

TC Energy Company 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.