TC Energy Co. (NYSE:TRP) Shares Purchased by Clearbridge Investments LLC

Clearbridge Investments LLC raised its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 0.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 589,883 shares of the pipeline company’s stock after buying an additional 356 shares during the period. Clearbridge Investments LLC owned about 0.06% of TC Energy worth $27,447,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. SBI Securities Co. Ltd. acquired a new position in shares of TC Energy during the 4th quarter valued at $31,000. Versant Capital Management Inc purchased a new stake in shares of TC Energy in the fourth quarter worth about $33,000. Synergy Investment Management LLC acquired a new stake in shares of TC Energy in the fourth quarter valued at about $36,000. Point72 DIFC Ltd purchased a new stake in shares of TC Energy during the 3rd quarter valued at about $39,000. Finally, Millstone Evans Group LLC acquired a new position in TC Energy during the 4th quarter worth approximately $41,000. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on TRP shares. TD Securities initiated coverage on shares of TC Energy in a research note on Wednesday, January 15th. They set a “buy” rating on the stock. Veritas upgraded shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 18th. US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. StockNews.com lowered TC Energy from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Finally, Royal Bank of Canada increased their price target on TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

TC Energy Stock Up 1.3 %

Shares of TC Energy stock opened at $47.83 on Wednesday. The business has a 50-day moving average price of $46.54 and a 200 day moving average price of $46.97. TC Energy Co. has a fifty-two week low of $34.95 and a fifty-two week high of $50.37. The firm has a market cap of $49.71 billion, a P/E ratio of 14.76, a P/E/G ratio of 4.34 and a beta of 0.83. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.54. The business 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 prior year, the company posted $1.35 EPS. On average, sell-side analysts forecast that TC Energy Co. will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a $0.85 dividend. 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 dividend yield of 7.11%. TC Energy’s payout ratio is 72.53%.

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.