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

Generali Asset Management SPA SGR raised its stake in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 261.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 74,906 shares of the pipeline company’s stock after acquiring an additional 54,154 shares during the period. Generali Asset Management SPA SGR’s holdings in TC Energy were worth $4,121,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TRP. Vanguard Group Inc. lifted its position in shares of TC Energy by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 47,801,695 shares of the pipeline company’s stock worth $2,632,200,000 after buying an additional 980,221 shares during the last quarter. Capital Research Global Investors grew its position in shares of TC Energy by 2.5% in the 3rd quarter. Capital Research Global Investors now owns 41,977,582 shares of the pipeline company’s stock valued at $2,282,469,000 after buying an additional 1,041,864 shares during the last quarter. TD Asset Management Inc raised its stake in TC Energy by 2.9% during the 3rd quarter. TD Asset Management Inc now owns 19,624,247 shares of the pipeline company’s stock worth $1,067,246,000 after acquiring an additional 550,066 shares in the last quarter. Mackenzie Financial Corp raised its stake in TC Energy by 4.4% during the 3rd quarter. Mackenzie Financial Corp now owns 13,351,862 shares of the pipeline company’s stock worth $725,816,000 after acquiring an additional 557,794 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in TC Energy by 4.8% in the third quarter. JPMorgan Chase & Co. now owns 11,237,084 shares of the pipeline company’s stock valued at $611,410,000 after acquiring an additional 512,759 shares during the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

Wall Street Analysts Forecast Growth

TRP has been the subject of several research analyst reports. The Goldman Sachs Group upgraded shares of TC Energy from a “sell” rating to a “neutral” rating and upped their price objective for the company from $53.00 to $62.00 in a research note on Monday, April 20th. Morgan Stanley reissued an “overweight” rating on shares of TC Energy in a report on Wednesday, January 28th. Royal Bank Of Canada upped their target price on TC Energy from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Wells Fargo & Company restated an “overweight” rating on shares of TC Energy in a research note on Monday, February 16th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of TC Energy in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, TC Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.50.

TC Energy Trading Down 0.5%

Shares of TC Energy stock opened at $64.78 on Friday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.56 and a current ratio of 0.65. The company has a market capitalization of $67.48 billion, a P/E ratio of 28.12 and a beta of 0.67. TC Energy Corporation has a 1 year low of $46.29 and a 1 year high of $67.31. The company’s fifty day moving average is $63.27 and its two-hundred day moving average is $58.13.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Friday, May 1st. The pipeline company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. TC Energy had a net margin of 22.22% and a return on equity of 10.74%. The business had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same period in the prior year, the company earned $0.95 earnings per share. Analysts forecast that TC Energy Corporation will post 2.77 earnings per share for the current year.

TC Energy Dividend Announcement

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