ClearBridge Investments Ltd Grows Stock Holdings in TC Energy Co. (NYSE:TRP)

ClearBridge Investments Ltd lifted its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 9.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 5,633,428 shares of the pipeline company’s stock after purchasing an additional 502,523 shares during the quarter. TC Energy accounts for approximately 6.9% of ClearBridge Investments Ltd’s holdings, making the stock its 3rd biggest holding. ClearBridge Investments Ltd owned approximately 0.54% of TC Energy worth $262,123,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Addenda Capital Inc. boosted its holdings in shares of TC Energy by 4.4% in the 4th quarter. Addenda Capital Inc. now owns 1,034,497 shares of the pipeline company’s stock worth $48,135,000 after acquiring an additional 43,639 shares in the last quarter. Captrust Financial Advisors raised its holdings in shares of TC Energy by 1.3% in the third quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock valued at $871,000 after buying an additional 242 shares during the last quarter. Ritholtz Wealth Management lifted its position in TC Energy by 44.8% during the 4th quarter. Ritholtz Wealth Management now owns 23,957 shares of the pipeline company’s stock worth $1,115,000 after buying an additional 7,412 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of TC Energy during the third quarter worth approximately $3,771,000. Finally, Exchange Traded Concepts LLC grew its stake in shares of TC Energy by 7.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,034,698 shares of the pipeline company’s stock valued at $48,144,000 after purchasing an additional 71,955 shares during the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Stock Down 0.5 %

Shares of NYSE TRP opened at $48.02 on Friday. TC Energy Co. has a 52-week low of $34.95 and a 52-week high of $50.37. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55. The stock has a market cap of $49.90 billion, a P/E ratio of 14.82, a P/E/G ratio of 4.34 and a beta of 0.83. The firm has a 50 day moving average price of $46.54 and a 200 day moving average price of $46.94.

TC Energy (NYSE:TRP) (TSE:TRP) last announced 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 company had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.42 billion. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. During the same quarter in the previous year, the business earned $1.35 EPS. Analysts expect that TC Energy Co. will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The firm also recently disclosed 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 7.08%. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s payout ratio is 72.53%.

Analyst Upgrades and Downgrades

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