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

Clearbridge Investments LLC boosted its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 0.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 589,883 shares of the pipeline company’s stock after purchasing an additional 356 shares during the period. Clearbridge Investments LLC’s holdings in TC Energy were worth $27,447,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. acquired a new stake in shares of TC Energy in the 4th quarter worth about $31,000. Versant Capital Management Inc acquired a new stake in shares of TC Energy in the fourth quarter valued at approximately $33,000. Synergy Investment Management LLC bought a new stake in shares of TC Energy during the fourth quarter valued at approximately $36,000. Point72 DIFC Ltd acquired a new position in shares of TC Energy during the third quarter worth approximately $39,000. Finally, Millstone Evans Group LLC bought a new position in TC Energy in the 4th quarter worth approximately $41,000. 83.13% of the stock is currently owned by institutional investors.

TC Energy Stock Performance

Shares of TRP opened at $47.83 on Wednesday. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23. The firm’s 50 day moving average is $46.54 and its 200-day moving average is $46.97. TC Energy Co. has a 12-month low of $34.95 and a 12-month high of $50.37. The stock has a market capitalization 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.

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. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. The company had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.42 billion. During the same quarter in the prior year, the company earned $1.35 earnings per share. Equities research analysts anticipate that TC Energy Co. will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 7.11%. This is an increase from TC Energy’s previous quarterly dividend of $0.82. The ex-dividend date is Monday, March 31st. TC Energy’s dividend payout ratio is currently 72.53%.

Analyst Ratings Changes

Several analysts have weighed in on TRP shares. Royal Bank of Canada lifted their target price on TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. StockNews.com downgraded shares of TC Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. 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 research report on Tuesday, February 18th. Finally, US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

TC Energy 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.