Thornburg Investment Management Inc. Has $218.93 Million Stake in TC Energy Corporation $TRP

Thornburg Investment Management Inc. lifted its stake in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 4.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,027,286 shares of the pipeline company’s stock after buying an additional 166,767 shares during the quarter. TC Energy comprises 2.9% of Thornburg Investment Management Inc.’s portfolio, making the stock its 7th biggest holding. Thornburg Investment Management Inc. owned 0.39% of TC Energy worth $218,926,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in TRP. Westside Investment Management Inc. lifted its stake in TC Energy by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 594 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 297 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of TC Energy by 237.4% during the third quarter. Smartleaf Asset Management LLC now owns 803 shares of the pipeline company’s stock valued at $43,000 after purchasing an additional 565 shares in the last quarter. Sagard Holdings Management Inc. bought a new stake in shares of TC Energy in the second quarter worth about $46,000. SouthState Corp lifted its position in shares of TC Energy by 2,757.1% in the second quarter. SouthState Corp now owns 1,000 shares of the pipeline company’s stock worth $49,000 after buying an additional 965 shares in the last quarter. Finally, City Holding Co. bought a new position in TC Energy during the third quarter valued at approximately $72,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Trading Down 0.3%

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

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. TC Energy had a net margin of 23.04% and a return on equity of 10.52%. The firm had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same period in the previous year, the company earned $1.05 EPS. As a group, analysts expect that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.8775 per share. This is a positive change from TC Energy’s previous quarterly dividend of $0.85. 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. TC Energy’s payout ratio is currently 106.90%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. TD Securities cut TC Energy from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. Wall Street Zen raised shares of TC Energy from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Barclays restated an “overweight” rating on shares of TC Energy in a research report on Friday, February 20th. Weiss Ratings reiterated a “buy (b-)” rating on shares of TC Energy in a research report on Monday, December 29th. Finally, Wells Fargo & Company reissued an “overweight” rating on shares of TC Energy in a research note on Monday, February 16th. Seven equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, TC Energy has an average rating of “Hold” and an average target price of $72.50.

About TC Energy

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.