ClearBridge Investments Ltd Raises Holdings in TC Energy Co. (NYSE:TRP)

ClearBridge Investments Ltd increased its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 9.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,633,428 shares of the pipeline company’s stock after buying an additional 502,523 shares during the quarter. TC Energy accounts for about 6.9% of ClearBridge Investments Ltd’s portfolio, making the stock its 3rd biggest holding. ClearBridge Investments Ltd’s holdings in TC Energy were worth $262,123,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new stake in shares of TC Energy in the fourth quarter valued at approximately $31,000. Versant Capital Management Inc bought a new position in TC Energy in the fourth quarter valued at $33,000. Synergy Investment Management LLC acquired a new stake in TC Energy in the 4th quarter valued at $36,000. Point72 DIFC Ltd bought a new stake in TC Energy during the 3rd quarter worth about $39,000. Finally, Millstone Evans Group LLC acquired a new position in shares of TC Energy during the 4th quarter worth about $41,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Trading Down 0.5 %

Shares of TC Energy stock opened at $48.02 on Friday. TC Energy Co. has a 1 year low of $34.95 and a 1 year high of $50.37. The company has a market capitalization of $49.90 billion, a price-to-earnings ratio of 14.82, a P/E/G ratio of 4.34 and a beta of 0.83. The business has a fifty day simple moving average of $46.54 and a two-hundred day simple moving average of $46.94. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 EPS for the quarter, beating 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 firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.42 billion. During the same period in the prior year, the firm posted $1.35 EPS. Research analysts forecast that TC Energy Co. will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a $0.85 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from TC Energy’s previous quarterly dividend of $0.82. This represents a $3.40 annualized dividend and a dividend yield of 7.08%. TC Energy’s payout ratio is presently 72.53%.

Analysts Set New Price Targets

A number of analysts recently issued reports on TRP shares. StockNews.com downgraded TC Energy from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Royal Bank of Canada upped their price objective on TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. Veritas raised shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. Finally, TD Securities initiated coverage on shares of TC Energy in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, TC Energy presently has a consensus 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.