Achmea Investment Management B.V. Grows Stock Holdings in TC Energy Corporation (NYSE:TRP)

Achmea Investment Management B.V. boosted its holdings in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 4.8% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 449,070 shares of the pipeline company's stock after buying an additional 20,378 shares during the period. Achmea Investment Management B.V.'s holdings in TC Energy were worth $21,204,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Lowe Wealth Advisors LLC purchased a new stake in TC Energy during the 1st quarter valued at approximately $30,000. SBI Securities Co. Ltd. purchased a new position in TC Energy during the fourth quarter valued at $31,000. Synergy Investment Management LLC bought a new stake in TC Energy in the 4th quarter valued at $36,000. Millstone Evans Group LLC purchased a new stake in TC Energy in the 4th quarter worth $41,000. Finally, First Command Advisory Services Inc. bought a new position in shares of TC Energy during the 4th quarter valued at about $46,000. Hedge funds and other institutional investors own 83.13% of the company's stock.

TC Energy Stock Performance

TRP opened at $47.97 on Friday. TC Energy Corporation has a 1 year low of $37.07 and a 1 year high of $51.99. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.70 and a quick ratio of 0.63. The firm has a fifty day moving average price of $49.54 and a 200 day moving average price of $47.65. The stock has a market cap of $49.88 billion, a P/E ratio of 15.83, a P/E/G ratio of 4.49 and a beta of 0.78.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its quarterly earnings results on Thursday, May 1st. The pipeline company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.04). The business had revenue of $1.78 billion during the quarter, compared to analysts' expectations of $2.57 billion. TC Energy had a net margin of 29.17% and a return on equity of 11.41%. During the same quarter in the prior year, the firm earned $1.02 EPS. Equities research analysts anticipate that TC Energy Corporation will post 2.63 earnings per share for the current year.

TC Energy Cuts Dividend

The business also recently announced 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. This represents a $2.46 annualized dividend and a dividend yield of 5.12%. The ex-dividend date of this dividend is Monday, June 30th. TC Energy's dividend payout ratio is currently 77.89%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TRP. Cibc World Mkts raised TC Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, May 2nd. Wall Street Zen downgraded TC Energy from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. CIBC raised shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a report on Friday, May 2nd. Finally, Citigroup initiated coverage on shares of TC Energy in a research note on Friday, April 4th. They set a "neutral" rating on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.

Want to see what other hedge funds are holding TRP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.