Clearbridge Investments LLC Acquires 425,570 Shares of TC Energy Corporation $TRP

Clearbridge Investments LLC increased its holdings in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 5.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,782,559 shares of the pipeline company’s stock after acquiring an additional 425,570 shares during the period. Clearbridge Investments LLC owned approximately 0.84% of TC Energy worth $483,129,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of TRP. Annis Gardner Whiting Capital Advisors LLC bought a new stake in TC Energy during the fourth quarter worth about $25,000. Trust Co. of Vermont bought a new stake in TC Energy during the fourth quarter worth about $28,000. Westside Investment Management Inc. boosted its stake in TC Energy by 100.0% during the third quarter. Westside Investment Management Inc. now owns 594 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 297 shares in the last quarter. McIlrath & Eck LLC bought a new position in shares of TC Energy in the fourth quarter worth approximately $32,000. Finally, SWAN Capital LLC bought a new position in shares of TC Energy in the third quarter worth approximately $40,000. Institutional investors own 83.13% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on TRP shares. The Goldman Sachs Group upgraded shares of TC Energy from a “sell” rating to a “neutral” rating and upped their target price for the stock from $53.00 to $62.00 in a research note on Monday, April 20th. Wells Fargo & Company reiterated an “overweight” rating on shares of TC Energy in a research note on Monday, February 16th. National Bank Financial upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 4th. Raymond James Financial upgraded shares of TC Energy to a “hold” rating in a research note on Tuesday, February 17th. Finally, Wall Street Zen upgraded shares of TC Energy from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $78.50.

TC Energy Trading Down 0.3%

Shares of NYSE TRP opened at $68.73 on Friday. The company has a market cap of $68.73 billion, a PE ratio of 29.83 and a beta of 0.66. The firm’s 50 day moving average price is $65.10 and its 200-day moving average price is $60.52. TC Energy Corporation has a 52-week low of $46.29 and a 52-week high of $71.47. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.57 and a current ratio of 0.65.

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

TC Energy Announces Dividend

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

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.