TC Energy Corporation (NYSE:TRP) Shares Bought by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale boosted its stake in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 21.0% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 261,426 shares of the pipeline company's stock after acquiring an additional 45,447 shares during the period. DekaBank Deutsche Girozentrale's holdings in TC Energy were worth $12,453,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Lowe Wealth Advisors LLC purchased a new stake in shares of TC Energy during the first quarter worth $30,000. SBI Securities Co. Ltd. purchased a new stake in shares of TC Energy during the fourth quarter worth $31,000. Millstone Evans Group LLC purchased a new stake in shares of TC Energy during the fourth quarter worth $41,000. Golden State Wealth Management LLC grew its holdings in shares of TC Energy by 222.2% during the first quarter. Golden State Wealth Management LLC now owns 1,076 shares of the pipeline company's stock worth $51,000 after buying an additional 742 shares in the last quarter. Finally, HM Payson & Co. purchased a new stake in shares of TC Energy during the first quarter worth $60,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Trading Up 0.1%

TRP stock traded up $0.06 during mid-day trading on Friday, hitting $47.32. 2,810,431 shares of the company were exchanged, compared to its average volume of 2,464,210. The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of 1.61. The firm has a market capitalization of $49.21 billion, a P/E ratio of 15.62, a PEG ratio of 4.51 and a beta of 0.76. The business has a fifty day simple moving average of $49.20 and a 200-day simple moving average of $47.77. TC Energy Corporation has a 12-month low of $38.90 and a 12-month high of $51.99.

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

TC Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a $0.6142 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.46 annualized dividend and a yield of 5.19%. TC Energy's dividend payout ratio (DPR) is 82.51%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TRP. CIBC raised shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a report on Friday, May 2nd. Cibc World Mkts raised shares of TC Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, May 2nd. Finally, Citigroup started coverage on shares of TC Energy in a report on Friday, April 4th. They issued a "neutral" rating for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has an average 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.