Deutsche Bank AG Acquires 196,543 Shares of TC Energy Corporation $TRP

Key Points

• Deutsche Bank increased its TC Energy stake by 196,543 shares in the second quarter, bringing its holdings to 15.82 million shares worth approximately $1.05 billion. Institutional investors collectively own 83.13% of the company.
• TC Energy reported quarterly earnings of $0.68 per share, beating estimates of $0.61, while revenue reached $2.80 billion. The stock recently traded at $63.28, down 1.2%.
• The company declared a quarterly dividend of $0.8775, representing an annualized payout of $3.51 and a 5.5% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $89.

Deutsche Bank AG lifted its holdings in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 1.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,821,521 shares of the pipeline company's stock after acquiring an additional 196,543 shares during the period. Deutsche Bank AG owned approximately 1.52% of TC Energy worth $1,048,809,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Annis Gardner Whiting Capital Advisors LLC acquired a new position in TC Energy during the 4th quarter valued at about $25,000. Sterling Capital Management LLC purchased a new stake in shares of TC Energy in the first quarter worth approximately $26,000. McIlrath & Eck LLC purchased a new stake in shares of TC Energy in the fourth quarter worth approximately $32,000. Trust Co. of Vermont bought a new position in shares of TC Energy in the second quarter valued at approximately $33,000. Finally, SWAN Capital LLC bought a new position in shares of TC Energy in the third quarter valued at approximately $40,000. Institutional investors and hedge funds own 83.13% of the company's stock.

TC Energy Trading Down 1.2%

NYSE TRP opened at $63.28 on Tuesday. The business's fifty day moving average is $67.43 and its 200-day moving average is $65.16. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.61 and a quick ratio of 0.54. The stock has a market capitalization of $65.93 billion, a price-to-earnings ratio of 26.26 and a beta of 0.66. TC Energy Corporation has a one year low of $49.27 and a one year high of $71.47.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its quarterly earnings results on Thursday, July 30th. The pipeline company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.07. The company had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.76 billion. TC Energy had a net margin of 22.91% and a return on equity of 11.10%. During the same quarter in the prior year, the business earned $0.82 earnings per share. Equities research analysts predict that TC Energy Corporation will post 2.75 EPS for the current year.

TC Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Tuesday, September 29th will be paid a $0.8775 dividend. The ex-dividend date is Tuesday, September 29th. This represents a $3.51 annualized dividend and a yield of 5.5%. TC Energy's dividend payout ratio is presently 102.49%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Morgan Stanley downgraded TC Energy from an "overweight" rating to an "equal weight" rating in a report on Wednesday, June 10th. The Goldman Sachs Group upgraded TC Energy from a "sell" rating to a "neutral" rating and raised their price objective for the company from $53.00 to $62.00 in a research note on Monday, April 20th. Scotiabank reiterated an "outperform" rating on shares of TC Energy in a research note on Tuesday, July 21st. National Bank Financial upgraded shares of TC Energy from a "hold" rating to a "strong-buy" rating in a report on Monday, May 4th. Finally, TD Securities restated a "hold" rating on shares of TC Energy in a report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $89.00.

TC Energy Company Profile

TC Energy NYSE: TRP is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company's principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source