Jennison Associates LLC Raises Holdings in TC Energy Corporation (NYSE:TRP)

Jennison Associates LLC raised its holdings in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 59.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 772,037 shares of the pipeline company's stock after purchasing an additional 286,850 shares during the period. Jennison Associates LLC owned approximately 0.07% of TC Energy worth $36,474,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in TRP. Avantax Advisory Services Inc. lifted its holdings in shares of TC Energy by 9.5% during the 4th quarter. Avantax Advisory Services Inc. now owns 9,564 shares of the pipeline company's stock valued at $445,000 after buying an additional 829 shares during the period. Natixis Advisors LLC lifted its holdings in shares of TC Energy by 40.6% during the 4th quarter. Natixis Advisors LLC now owns 69,520 shares of the pipeline company's stock valued at $3,235,000 after buying an additional 20,082 shares during the period. Corient Private Wealth LLC lifted its holdings in shares of TC Energy by 7.7% during the 4th quarter. Corient Private Wealth LLC now owns 32,718 shares of the pipeline company's stock valued at $1,522,000 after buying an additional 2,342 shares during the period. Thrivent Financial for Lutherans lifted its holdings in shares of TC Energy by 10.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 5,468 shares of the pipeline company's stock valued at $269,000 after buying an additional 504 shares during the period. Finally, HUB Investment Partners LLC bought a new position in shares of TC Energy during the 4th quarter valued at $236,000. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TRP. Cibc World Mkts raised TC Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, May 2nd. Citigroup began coverage on TC Energy in a report on Friday, April 4th. They issued a "neutral" rating on the stock. Finally, CIBC raised TC Energy from a "neutral" rating to a "sector outperform" rating in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $62.00.

TC Energy Trading Up 0.0%

Shares of TC Energy stock opened at $47.74 on Friday. The firm has a market cap of $49.65 billion, a price-to-earnings ratio of 15.76, a PEG ratio of 4.59 and a beta of 0.76. The business has a 50-day moving average price of $48.93 and a 200-day moving average price of $47.84. The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of 1.61. TC Energy Corporation has a twelve month low of $40.95 and a twelve month high of $51.99.

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

TC Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a dividend of $0.6142 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.46 annualized dividend and a dividend yield of 5.15%. TC Energy's dividend payout ratio (DPR) is presently 82.18%.

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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