Thornburg Investment Management Inc. Buys 13,568 Shares of TC Energy Corporation $TRP

Thornburg Investment Management Inc. lifted its stake in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 0.3% during the 4th quarter, HoldingsChannel reports. The fund owned 4,040,854 shares of the pipeline company’s stock after buying an additional 13,568 shares during the period. TC Energy comprises approximately 2.8% of Thornburg Investment Management Inc.’s portfolio, making the stock its 7th biggest holding. Thornburg Investment Management Inc.’s holdings in TC Energy were worth $222,536,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of TRP. Mesirow Financial Investment Management Inc. boosted its holdings in TC Energy by 2.0% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 9,991 shares of the pipeline company’s stock valued at $544,000 after purchasing an additional 200 shares during the period. Gold Investment Management Ltd. grew its position in TC Energy by 2.0% in the 4th quarter. Gold Investment Management Ltd. now owns 9,964 shares of the pipeline company’s stock worth $549,000 after purchasing an additional 200 shares during the last quarter. Kennebec Savings Bank grew its position in TC Energy by 2.1% in the 4th quarter. Kennebec Savings Bank now owns 9,854 shares of the pipeline company’s stock worth $542,000 after purchasing an additional 203 shares during the last quarter. JCIC Asset Management Inc. grew its position in TC Energy by 6.2% in the 4th quarter. JCIC Asset Management Inc. now owns 3,746 shares of the pipeline company’s stock worth $206,000 after purchasing an additional 220 shares during the last quarter. Finally, Arax Advisory Partners grew its position in TC Energy by 7.9% in the 4th quarter. Arax Advisory Partners now owns 3,029 shares of the pipeline company’s stock worth $167,000 after purchasing an additional 221 shares during the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Stock Down 0.0%

TRP opened at $69.39 on Monday. TC Energy Corporation has a fifty-two week low of $46.29 and a fifty-two week high of $71.47. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.65 and a quick ratio of 0.57. The firm’s fifty day moving average price is $65.69 and its two-hundred day moving average price is $61.08. The company has a market capitalization of $69.39 billion, a P/E ratio of 30.12 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 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. TC Energy had a net margin of 22.22% and a return on equity of 10.74%. The firm had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter in the previous year, the company earned $0.95 earnings per share. On average, analysts anticipate that TC Energy Corporation will post 2.75 EPS for the current year.

TC Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be paid 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 payout ratio is currently 109.57%.

Wall Street Analyst Weigh In

Several research firms have issued reports on TRP. Royal Bank Of Canada raised their price target on shares of TC Energy from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. The Goldman Sachs Group upgraded shares of TC Energy from a “sell” rating to a “neutral” rating and raised their price target for the stock from $53.00 to $62.00 in a research report on Monday, April 20th. Barclays restated an “overweight” rating on shares of TC Energy in a research report on Monday, May 4th. Scotiabank restated an “outperform” rating on shares of TC Energy in a research report on Monday, May 4th. Finally, Citigroup restated a “neutral” rating on shares of TC Energy in a research report on Thursday, February 19th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, TC Energy currently has a consensus rating of “Moderate Buy” and an average target price of $78.50.

TC Energy 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.