ASR Vermogensbeheer N.V. Makes New $2.69 Million Investment in TC Energy Corporation (NYSE:TRP)

Key Points

• ASR Vermogensbeheer N.V. has made a new investment in TC Energy Corporation, acquiring 57,024 shares worth approximately $2.69 million.
• TC Energy announced a quarterly dividend of $0.6148 per share, representing an annualized dividend yield of 4.9%.
• Recent reports show that TC Energy's earnings per share for the last quarter was $0.59, surpassing market expectations of $0.56.

ASR Vermogensbeheer N.V. acquired a new stake in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 57,024 shares of the pipeline company's stock, valued at approximately $2,693,000.

Several other large investors have also recently made changes to their positions in the business. BROOKFIELD Corp ON grew its position in TC Energy by 31.6% during the fourth quarter. BROOKFIELD Corp ON now owns 1,890,168 shares of the pipeline company's stock valued at $87,950,000 after buying an additional 454,011 shares during the period. Bank of New York Mellon Corp boosted its stake in TC Energy by 1.1% in the first quarter. Bank of New York Mellon Corp now owns 915,241 shares of the pipeline company's stock valued at $43,209,000 after acquiring an additional 10,227 shares during the last quarter. Farther Finance Advisors LLC grew its position in shares of TC Energy by 77.7% during the 1st quarter. Farther Finance Advisors LLC now owns 2,299 shares of the pipeline company's stock valued at $110,000 after acquiring an additional 1,005 shares during the period. Wealthstar Advisors LLC purchased a new stake in shares of TC Energy during the 1st quarter worth approximately $432,000. Finally, Golden State Wealth Management LLC raised its holdings in shares of TC Energy by 222.2% in the 1st quarter. Golden State Wealth Management LLC now owns 1,076 shares of the pipeline company's stock worth $51,000 after purchasing an additional 742 shares during the period. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Stock Performance

NYSE:TRP opened at $49.73 on Friday. The business's fifty day moving average is $48.48 and its 200 day moving average is $47.93. The firm has a market cap of $51.71 billion, a price-to-earnings ratio of 16.97, a PEG ratio of 4.79 and a beta of 0.75. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.54 and a current ratio of 0.61. TC Energy Corporation has a 52-week low of $39.23 and a 52-week high of $51.99.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its quarterly earnings results on Thursday, July 31st. The pipeline company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.03. TC Energy had a return on equity of 11.22% and a net margin of 28.98%. The firm had revenue of $1.82 billion for the quarter, compared to analysts' expectations of $2.56 billion. During the same period in the prior year, the business posted $0.79 earnings per share. Research analysts predict that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 29th will be paid a $0.6148 dividend. The ex-dividend date is Monday, September 29th. This represents a $2.46 annualized dividend and a yield of 4.9%. This is a boost from TC Energy's previous quarterly dividend of $0.61. TC Energy's dividend payout ratio is currently 85.32%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on TRP shares. CIBC raised TC Energy from a "neutral" rating to a "sector outperform" rating in a report on Friday, May 2nd. Cibc World Mkts raised TC Energy from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $62.00.

TC Energy 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.

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