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

Fox Run Management L.L.C. bought a new stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 36,224 shares of the pipeline company’s stock, valued at approximately $1,993,000.

A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of TC Energy by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 47,801,695 shares of the pipeline company’s stock worth $2,632,200,000 after acquiring an additional 980,221 shares during the last quarter. Capital Research Global Investors lifted its holdings 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 acquiring an additional 1,041,864 shares during the last quarter. TD Asset Management Inc lifted its holdings 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 acquiring an additional 1,244,525 shares during the last quarter. Mackenzie Financial Corp lifted its holdings 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 acquiring an additional 557,794 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings 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 acquiring an additional 512,759 shares during the last quarter. 83.13% of the stock is currently owned by institutional investors.

TC Energy Trading Down 0.6%

NYSE:TRP opened at $68.26 on Tuesday. The company has a fifty day moving average of $65.19 and a 200 day moving average of $60.66. TC Energy Corporation has a 52 week low of $46.29 and a 52 week high of $71.47. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 1.67. The firm has a market capitalization of $68.26 billion, a P/E ratio of 29.62 and a beta of 0.66.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Friday, May 1st. The pipeline company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. The company had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.20 billion. TC Energy had a net margin of 22.22% and a return on equity of 10.74%. During the same period in the prior year, the business posted $0.95 EPS. On average, research analysts predict that TC Energy Corporation will post 2.75 earnings per share for the current year.

TC Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.8775 per share. This represents a $3.51 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend is Tuesday, June 30th. TC Energy’s payout ratio is presently 109.57%.

Analysts Set New Price Targets

TRP has been the subject of a number of recent research reports. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of TC Energy in a report on Tuesday, May 26th. Wall Street Zen upgraded shares of TC Energy from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Wells Fargo & Company restated an “overweight” rating on shares of TC Energy in a report on Monday, February 16th. Weiss Ratings lowered shares of TC Energy from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 4th. Finally, Raymond James Financial upgraded shares of TC Energy to a “hold” rating in a report on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, TC Energy presently has an average rating of “Moderate Buy” and an average target price of $78.50.

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.