Fox Run Management L.L.C. Acquires Shares of 36,224 TC Energy Corporation $TRP

Fox Run Management L.L.C. acquired a new stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 36,224 shares of the pipeline company’s stock, valued at approximately $1,993,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in TC Energy by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 47,801,695 shares of the pipeline company’s stock valued at $2,632,200,000 after purchasing an additional 980,221 shares during the period. 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 worth $2,282,469,000 after buying an additional 1,041,864 shares during the period. TD Asset Management Inc grew its position in shares of TC Energy by 6.3% in the 4th quarter. TD Asset Management Inc now owns 20,868,772 shares of the pipeline company’s stock worth $1,150,656,000 after buying an additional 1,244,525 shares during the period. Mackenzie Financial Corp grew its position in shares of TC Energy by 4.4% in the 3rd quarter. Mackenzie Financial Corp now owns 13,351,862 shares of the pipeline company’s stock worth $725,816,000 after buying an additional 557,794 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of TC Energy by 4.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,237,084 shares of the pipeline company’s stock worth $611,410,000 after buying an additional 512,759 shares during the period. 83.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group raised shares of TC Energy from a “sell” rating to a “neutral” rating and upped their target price for the stock from $53.00 to $62.00 in a research report on Monday, April 20th. Barclays reaffirmed an “overweight” rating on shares of TC Energy in a research report on Monday, May 4th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of TC Energy in a research report on Tuesday, May 26th. Citigroup reaffirmed a “neutral” rating on shares of TC Energy in a research report on Thursday, February 19th. Finally, National Bank Financial raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $78.50.

TC Energy Stock Performance

Shares of TC Energy stock opened at $68.26 on Tuesday. The stock has a market cap of $68.26 billion, a price-to-earnings ratio of 29.62 and a beta of 0.66. The firm’s 50-day moving average is $65.19 and its 200 day moving average is $60.66. TC Energy Corporation has a 1 year low of $46.29 and a 1 year high of $71.47. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.65 and a quick ratio of 0.57.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results 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 company had revenue of $2.04 billion for 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 quarter in the previous year, the business posted $0.95 EPS. Sell-side analysts anticipate that TC Energy Corporation will post 2.75 EPS for the current fiscal year.

TC Energy Announces Dividend

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