Clearbridge Investments LLC Acquires 69,233 Shares of TC Energy Co. (NYSE:TRP)

Clearbridge Investments LLC increased its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 5.4% in the second quarter, HoldingsChannel reports. The firm owned 1,343,440 shares of the pipeline company’s stock after purchasing an additional 69,233 shares during the period. Clearbridge Investments LLC’s holdings in TC Energy were worth $66,527,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in TRP. Bank of Montreal Can increased its position in TC Energy by 7.2% in the 1st quarter. Bank of Montreal Can now owns 30,623,585 shares of the pipeline company’s stock valued at $1,440,839,000 after acquiring an additional 2,050,610 shares in the last quarter. Vanguard Group Inc. lifted its position in TC Energy by 0.9% during the second quarter. Vanguard Group Inc. now owns 30,476,990 shares of the pipeline company’s stock worth $1,509,220,000 after purchasing an additional 276,026 shares during the period. Deutsche Bank AG lifted its position in TC Energy by 12.3% during the second quarter. Deutsche Bank AG now owns 28,633,940 shares of the pipeline company’s stock worth $1,417,951,000 after purchasing an additional 3,132,731 shares during the period. FIL Ltd lifted its position in TC Energy by 26.9% during the first quarter. FIL Ltd now owns 19,378,739 shares of the pipeline company’s stock worth $888,365,000 after purchasing an additional 4,108,971 shares during the period. Finally, Bank of Nova Scotia lifted its holdings in shares of TC Energy by 32.6% in the second quarter. Bank of Nova Scotia now owns 17,481,254 shares of the pipeline company’s stock worth $847,310,000 after acquiring an additional 4,299,176 shares during the last quarter. Institutional investors and hedge funds own 69.40% of the company’s stock.

TRP has been the subject of several recent research reports. CIBC upped their price objective on TC Energy from C$70.00 to C$74.00 and gave the company an “outperform” rating in a research note on Friday, June 18th. JPMorgan Chase & Co. restated a “hold” rating and set a C$68.00 price target on shares of TC Energy in a report on Monday, August 23rd. Morgan Stanley cut TC Energy from an “overweight” rating to an “equal weight” rating and set a $76.00 price target on the stock. in a report on Tuesday, July 20th. Finally, The Goldman Sachs Group cut TC Energy from a “buy” rating to a “neutral” rating and cut their target price for the stock from $75.00 to $63.00 in a report on Monday, September 13th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to, the company has a consensus rating of “Buy” and a consensus target price of $69.25.

Shares of NYSE:TRP opened at $51.59 on Thursday. TC Energy Co. has a 1 year low of $38.80 and a 1 year high of $53.65. The stock’s fifty day moving average price is $48.42 and its 200-day moving average price is $49.21. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.61 and a quick ratio of 0.55. The company has a market cap of $50.52 billion, a P/E ratio of 32.24, a PEG ratio of 2.37 and a beta of 0.79.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Thursday, July 29th. The pipeline company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.11. TC Energy had a return on equity of 14.84% and a net margin of 16.25%. The firm had revenue of $2.59 billion during the quarter. On average, sell-side analysts anticipate that TC Energy Co. will post 3.38 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 29th. Investors of record on Thursday, September 30th will be paid a dividend of $0.6917 per share. This represents a $2.77 dividend on an annualized basis and a dividend yield of 5.36%. The ex-dividend date is Wednesday, September 29th. TC Energy’s dividend payout ratio is currently 86.94%.

TC Energy Company Profile

TC Energy Corporation engages in the provision of energy infrastructure services. It operates through the following business segments: Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, Power and Storage, and Corporate. The Canadian Natural Gas Pipelines segment consists of regulated natural gas pipelines.

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Institutional Ownership by Quarter for TC Energy (NYSE:TRP)

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