Generali Asset Management SPA SGR Grows Position in TC Energy Corporation $TRP

Key Points

• Generali Asset Management increased its TC Energy stake by 261% in the fourth quarter, adding 54,154 shares and bringing its total holding to 74,906 shares worth about $4.1 million.
• Wall Street sentiment is mostly positive: analysts have a consensus rating of “Moderate Buy” on TC Energy, with a consensus price target of $78.50 after several firms reiterated or raised their outlooks.
• TC Energy reported Q1 earnings of $0.72 per share, topping estimates of $0.70, and declared a quarterly dividend of $0.8775 per share for a 5.4% annualized yield.

Generali Asset Management SPA SGR boosted its stake in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 261.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 74,906 shares of the pipeline company's stock after buying an additional 54,154 shares during the period. Generali Asset Management SPA SGR's holdings in TC Energy were worth $4,121,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of TRP. Trust Co. of Vermont purchased a new stake in shares of TC Energy in the 4th quarter valued at approximately $28,000. McIlrath & Eck LLC purchased a new position in shares of TC Energy during the 4th quarter worth approximately $32,000. Westside Investment Management Inc. increased its holdings in TC Energy by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 594 shares of the pipeline company's stock valued at $32,000 after purchasing an additional 297 shares during the last quarter. SWAN Capital LLC purchased a new stake in TC Energy in the third quarter valued at approximately $40,000. Finally, Smartleaf Asset Management LLC lifted its stake in TC Energy by 237.4% during the third quarter. Smartleaf Asset Management LLC now owns 803 shares of the pipeline company's stock worth $43,000 after purchasing an additional 565 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Royal Bank Of Canada raised their price target on TC Energy from $92.00 to $95.00 and gave the stock an "outperform" rating in a research report on Monday, May 4th. Raymond James Financial raised TC Energy to a "hold" rating in a research note on Tuesday, February 17th. The Goldman Sachs Group raised TC Energy from a "sell" rating to a "neutral" rating and increased their target price for the stock from $53.00 to $62.00 in a research note on Monday, April 20th. Wells Fargo & Company restated an "overweight" rating on shares of TC Energy in a report on Monday, February 16th. Finally, Barclays reiterated an "overweight" rating on shares of TC Energy in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $78.50.

TC Energy Trading Down 0.5%

NYSE TRP opened at $64.78 on Friday. TC Energy Corporation has a 52 week low of $46.29 and a 52 week high of $67.31. The firm has a 50 day moving average of $63.27 and a two-hundred day moving average of $58.13. The company has a quick ratio of 0.56, a current ratio of 0.65 and a debt-to-equity ratio of 1.67. The stock has a market capitalization of $67.48 billion, a PE ratio of 28.12 and a beta of 0.67.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its quarterly earnings data on Friday, May 1st. The pipeline company reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.70 by $0.02. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.20 billion. TC Energy had a net margin of 22.22% and a return on equity of 10.74%. During the same period last year, the business earned $0.95 EPS. As a group, research analysts expect that TC Energy Corporation will post 2.77 EPS for the current fiscal year.

TC Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.8775 per share. This represents a $3.51 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend is Tuesday, June 30th. TC Energy's payout ratio is 109.57%.

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.

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