TC Energy Corporation (NYSE:TRP) Shares Acquired by Deutsche Bank AG

Key Points

• Deutsche Bank AG increased its stake in TC Energy Corporation by 175.1% in Q1, owning approximately $271.8 million worth of shares by the end of the reporting period.
• TC Energy recently announced a quarterly dividend of $0.6148 per share, reflecting a 4.9% dividend yield, which is an increase from the previous quarterly dividend of $0.61.
• Analysts rate TC Energy stock with a consensus of Moderate Buy and a target price of $62.00, with Cibc World Markets upgrading it to a strong-buy rating.

Deutsche Bank AG boosted its stake in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 175.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,758,203 shares of the pipeline company's stock after purchasing an additional 3,664,862 shares during the quarter. Deutsche Bank AG owned approximately 0.55% of TC Energy worth $271,845,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Lowe Wealth Advisors LLC acquired a new position in TC Energy during the 1st quarter valued at approximately $30,000. TruNorth Capital Management LLC acquired a new position in TC Energy during the 1st quarter worth $45,000. Golden State Wealth Management LLC boosted its position in TC Energy by 222.2% during the 1st quarter. Golden State Wealth Management LLC now owns 1,076 shares of the pipeline company's stock worth $51,000 after acquiring an additional 742 shares during the period. SBI Securities Co. Ltd. boosted its position in TC Energy by 75.3% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,166 shares of the pipeline company's stock worth $55,000 after acquiring an additional 501 shares during the period. Finally, HM Payson & Co. acquired a new position in TC Energy during the 1st quarter worth $60,000. Institutional investors and hedge funds own 83.13% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on TRP. Cibc World Mkts upgraded TC Energy from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 2nd. CIBC upgraded TC Energy from a "neutral" rating to a "sector outperform" rating in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $62.00.

TC Energy Stock Down 0.1%

TRP opened at $49.73 on Friday. TC Energy Corporation has a one year low of $39.23 and a one year high of $51.99. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.54 and a current ratio of 0.61. The stock's fifty day moving average is $48.48 and its 200-day moving average is $47.93. The company has a market capitalization of $51.71 billion, a PE ratio of 16.97, a P/E/G ratio of 4.79 and a beta of 0.75.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its quarterly earnings data on Thursday, July 31st. The pipeline company reported $0.59 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.03. TC Energy had a return on equity of 11.22% and a net margin of 28.98%. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter in the previous year, the business earned $0.79 EPS. On average, equities analysts predict that TC Energy Corporation will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

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

TC Energy Company 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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