Asahi Life Asset Management CO. LTD. Has $323,000 Stake in TC Energy Co. (NYSE:TRP)

Asahi Life Asset Management CO. LTD. trimmed its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 25.5% in the fourth quarter, HoldingsChannel reports. The firm owned 6,940 shares of the pipeline company’s stock after selling 2,370 shares during the period. Asahi Life Asset Management CO. LTD.’s holdings in TC Energy were worth $323,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TRP. Blue Trust Inc. increased its holdings 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 in the last quarter. Versant Capital Management Inc bought a new position in TC Energy in the 4th quarter valued at $33,000. Point72 DIFC Ltd bought a new position in TC Energy in the 3rd quarter valued at $39,000. First Command Advisory Services Inc. bought a new position in TC Energy in the 4th quarter valued at $46,000. Finally, UMB Bank n.a. bought a new position in TC Energy in the 4th quarter valued at $47,000. 83.13% of the stock is owned by institutional investors and hedge funds.

TC Energy Stock Up 0.8 %

NYSE:TRP opened at $44.69 on Monday. The stock’s fifty day simple moving average is $46.35 and its 200-day simple moving average is $46.71. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56. The firm has a market capitalization of $46.44 billion, a P/E ratio of 13.79, a P/E/G ratio of 4.34 and a beta of 0.81. TC Energy Co. has a 12-month low of $31.83 and a 12-month high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.54. The firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.42 billion. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. During the same period in the previous year, the company posted $1.35 earnings per share. Equities research analysts expect that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. This represents a $3.40 annualized dividend and a yield of 7.61%. TC Energy’s payout ratio is currently 71.91%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. BMO Capital Markets increased their price objective on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research report on Wednesday, November 20th. Veritas upgraded TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. StockNews.com upgraded TC Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Finally, TD Securities began coverage on TC Energy in a research report on Wednesday, January 15th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

About TC Energy

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.