TC Energy Corporation $TRP Holdings Increased by Thornburg Investment Management Inc.

Thornburg Investment Management Inc. raised its holdings in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 4.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,027,286 shares of the pipeline company’s stock after purchasing an additional 166,767 shares during the quarter. TC Energy accounts for approximately 2.9% of Thornburg Investment Management Inc.’s investment portfolio, making the stock its 7th largest holding. Thornburg Investment Management Inc.’s holdings in TC Energy were worth $218,926,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in TRP. Campbell & CO Investment Adviser LLC bought a new position in TC Energy in the 3rd quarter worth about $1,391,000. Advisors Asset Management Inc. boosted its holdings in shares of TC Energy by 38.8% in the third quarter. Advisors Asset Management Inc. now owns 88,140 shares of the pipeline company’s stock valued at $4,796,000 after purchasing an additional 24,617 shares during the period. Norges Bank bought a new position in TC Energy in the second quarter worth approximately $493,434,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its holdings in TC Energy by 9.2% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,365,500 shares of the pipeline company’s stock worth $74,297,000 after purchasing an additional 115,000 shares during the period. Finally, Vanguard Group Inc. increased its holdings in TC Energy by 3.4% during the 2nd quarter. Vanguard Group Inc. now owns 45,907,306 shares of the pipeline company’s stock worth $2,241,195,000 after purchasing an additional 1,509,328 shares during the period. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Stock Down 0.3%

NYSE:TRP opened at $63.22 on Thursday. The company’s 50-day simple moving average is $57.51 and its 200-day simple moving average is $54.32. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.56 and a current ratio of 0.63. TC Energy Corporation has a fifty-two week low of $43.59 and a fifty-two week high of $63.94. The stock has a market capitalization of $65.83 billion, a P/E ratio of 27.20 and a beta of 0.73.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Friday, February 13th. The pipeline company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. The company had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.94 billion. TC Energy had a net margin of 23.04% and a return on equity of 10.52%. During the same quarter in the prior year, the company posted $1.05 earnings per share. On average, equities analysts anticipate that TC Energy Corporation will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be given a $0.8775 dividend. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date of this dividend is Tuesday, March 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.85. TC Energy’s payout ratio is 106.90%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TRP. National Bank Financial cut TC Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Canadian Imperial Bank of Commerce lowered shares of TC Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Weiss Ratings reiterated a “buy (b-)” rating on shares of TC Energy in a report on Monday, December 29th. Barclays restated an “overweight” rating on shares of TC Energy in a report on Friday, February 20th. Finally, Royal Bank Of Canada increased their price objective on shares of TC Energy from $84.00 to $92.00 and gave the company an “outperform” rating in a research note on Tuesday, February 17th. Seven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $72.50.

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.