Deutsche Bank AG Purchases 293,500 Shares of TC Energy Co. (NYSE:TRP)

Deutsche Bank AG increased its position in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 16.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,093,341 shares of the pipeline company's stock after purchasing an additional 293,500 shares during the quarter. Deutsche Bank AG owned approximately 0.20% of TC Energy worth $97,403,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. BROOKFIELD Corp ON increased its holdings in shares of TC Energy by 31.6% during the 4th quarter. BROOKFIELD Corp ON now owns 1,890,168 shares of the pipeline company's stock worth $87,950,000 after acquiring an additional 454,011 shares during the last quarter. Addenda Capital Inc. increased its holdings in shares of TC Energy by 4.4% in the fourth quarter. Addenda Capital Inc. now owns 1,034,497 shares of the pipeline company's stock valued at $48,135,000 after purchasing an additional 43,639 shares during the last quarter. Ritholtz Wealth Management increased its holdings in shares of TC Energy by 44.8% in the fourth quarter. Ritholtz Wealth Management now owns 23,957 shares of the pipeline company's stock valued at $1,115,000 after purchasing an additional 7,412 shares during the last quarter. O Shaughnessy Asset Management LLC raised its position in shares of TC Energy by 7.8% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 224,829 shares of the pipeline company's stock valued at $10,463,000 after purchasing an additional 16,334 shares during the period. Finally, Cinctive Capital Management LP lifted its stake in shares of TC Energy by 12.3% during the 4th quarter. Cinctive Capital Management LP now owns 194,133 shares of the pipeline company's stock worth $9,042,000 after buying an additional 21,243 shares during the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Price Performance

Shares of NYSE TRP traded up $0.33 during midday trading on Wednesday, reaching $48.90. The company's stock had a trading volume of 1,472,888 shares, compared to its average volume of 2,516,996. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55. TC Energy Co. has a fifty-two week low of $37.07 and a fifty-two week high of $51.34. The business's 50 day moving average price is $48.22 and its two-hundred day moving average price is $47.41. The company has a market cap of $50.84 billion, a P/E ratio of 15.09, a P/E/G ratio of 4.34 and a beta of 0.78.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its quarterly earnings data on Thursday, May 1st. The pipeline company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.04). TC Energy had a net margin of 29.40% and a return on equity of 12.12%. The firm had revenue of $1.78 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same quarter in the prior year, the firm earned $1.02 earnings per share. On average, analysts forecast that TC Energy Co. will post 2.63 EPS for the current fiscal year.

TC Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a dividend of $0.6142 per share. The ex-dividend date is Monday, June 30th. This represents a $2.46 annualized dividend and a dividend yield of 5.02%. TC Energy's dividend payout ratio (DPR) is presently 77.89%.

Wall Street Analysts Forecast Growth

TRP has been the topic of several research analyst reports. US Capital Advisors raised shares of TC Energy from a "hold" rating to a "moderate buy" rating in a report on Monday, February 3rd. Veritas raised shares of TC Energy from a "strong sell" rating to a "strong-buy" rating in a report on Tuesday, February 18th. CIBC raised shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a report on Friday, May 2nd. TD Securities initiated coverage on shares of TC Energy in a report on Wednesday, January 15th. They issued a "buy" rating on the stock. Finally, Royal Bank of Canada increased their price target on shares of TC Energy from $71.00 to $74.00 and gave the company an "outperform" rating in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently 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.