Clearbridge Investments LLC Buys 425,570 Shares of TC Energy Corporation $TRP

Clearbridge Investments LLC boosted its stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 5.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,782,559 shares of the pipeline company’s stock after purchasing an additional 425,570 shares during the period. Clearbridge Investments LLC’s holdings in TC Energy were worth $483,129,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TRP. Norges Bank bought a new position in TC Energy during the fourth quarter valued at approximately $583,732,000. American Century Companies Inc. increased its holdings in TC Energy by 514.5% during the third quarter. American Century Companies Inc. now owns 6,491,799 shares of the pipeline company’s stock valued at $352,976,000 after buying an additional 5,435,310 shares during the last quarter. BROOKFIELD Corp ON purchased a new stake in TC Energy during the second quarter valued at approximately $78,443,000. TD Asset Management Inc increased its holdings in TC Energy by 6.3% during the fourth quarter. TD Asset Management Inc now owns 20,868,772 shares of the pipeline company’s stock valued at $1,150,656,000 after buying an additional 1,244,525 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in TC Energy by 32.8% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,496,410 shares of the pipeline company’s stock valued at $244,650,000 after buying an additional 1,109,897 shares during the last quarter. Institutional investors own 83.13% of the company’s stock.

TC Energy Stock Performance

Shares of NYSE TRP opened at $68.73 on Friday. The firm has a fifty day moving average price of $65.10 and a 200-day moving average price of $60.52. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.65 and a quick ratio of 0.57. The stock has a market cap of $68.73 billion, a PE ratio of 29.83 and a beta of 0.66. TC Energy Corporation has a 1 year low of $46.29 and a 1 year high of $71.47.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Friday, May 1st. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. The firm had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.20 billion. TC Energy had a net margin of 22.22% and a return on equity of 10.74%. During the same period in the prior year, the company posted $0.95 earnings per share. Equities analysts anticipate that TC Energy Corporation will post 2.75 earnings per share for the current fiscal year.

TC Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be paid a $0.8775 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.1%. TC Energy’s dividend payout ratio is 109.57%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Wall Street Zen raised shares of TC Energy from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. TD Securities reaffirmed a “hold” rating on shares of TC Energy in a report on Monday, May 4th. The Goldman Sachs Group raised shares of TC Energy from a “sell” rating to a “neutral” rating and upped their target price for the company from $53.00 to $62.00 in a report on Monday, April 20th. Weiss Ratings cut shares of TC Energy from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 4th. Finally, Citigroup reaffirmed a “neutral” rating on shares of TC Energy in a report on Thursday, February 19th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $78.50.

TC Energy 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.