Asahi Life Asset Management CO. LTD. Sells 2,370 Shares of TC Energy Co. (NYSE:TRP)

Asahi Life Asset Management CO. LTD. lessened its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 25.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,940 shares of the pipeline company’s stock after selling 2,370 shares during the quarter. Asahi Life Asset Management CO. LTD.’s holdings in TC Energy were worth $323,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Blue Trust Inc. boosted its stake in TC Energy by 72.0% during the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 267 shares during the period. International Assets Investment Management LLC bought a new stake in TC Energy during the 3rd quarter valued at approximately $3,034,000. Wealth Enhancement Advisory Services LLC boosted its stake in TC Energy by 3.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 17,033 shares of the pipeline company’s stock valued at $810,000 after purchasing an additional 631 shares during the period. Financial Advocates Investment Management boosted its stake in TC Energy by 7.8% during the 3rd quarter. Financial Advocates Investment Management now owns 6,950 shares of the pipeline company’s stock valued at $331,000 after purchasing an additional 501 shares during the period. Finally, Farther Finance Advisors LLC boosted its stake in TC Energy by 215.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,209 shares of the pipeline company’s stock valued at $57,000 after purchasing an additional 826 shares during the period. Institutional investors own 83.13% of the company’s stock.

TC Energy Trading Up 0.8 %

Shares of TRP opened at $44.69 on Monday. TC Energy Co. has a 1 year low of $31.83 and a 1 year high of $50.37. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56. The stock has a 50 day simple moving average of $46.35 and a 200-day simple moving average of $46.71. The stock has a market cap of $46.44 billion, a PE ratio of 13.79, a PEG ratio of 4.34 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.54. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. The business had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.42 billion. During the same period in the prior year, the firm posted $1.35 EPS. On average, sell-side analysts predict that TC Energy Co. 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 Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a $0.85 dividend. The ex-dividend date is Monday, March 31st. This is a boost from TC Energy’s previous quarterly dividend of $0.82. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.61%. TC Energy’s dividend payout ratio is presently 71.91%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. StockNews.com upgraded TC Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Veritas upgraded TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. BMO Capital Markets raised their price objective on TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 20th. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. Finally, Royal Bank of Canada raised their price objective on TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, TC Energy presently has an average rating of “Moderate Buy” and an average target price of $62.00.

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.