ClearBridge Investments Ltd Has $262.12 Million Position in TC Energy Co. (NYSE:TRP)

ClearBridge Investments Ltd boosted its stake in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 9.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,633,428 shares of the pipeline company's stock after acquiring an additional 502,523 shares during the period. TC Energy accounts for 6.9% of ClearBridge Investments Ltd's portfolio, making the stock its 3rd largest position. ClearBridge Investments Ltd owned approximately 0.54% of TC Energy worth $262,123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of TC Energy during the 4th quarter valued at approximately $428,759,000. Mufg Securities Canada LTD. boosted its holdings in shares of TC Energy by 571.7% in the 4th quarter. Mufg Securities Canada LTD. now owns 6,184,832 shares of the pipeline company's stock valued at $288,043,000 after buying an additional 5,264,079 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in shares of TC Energy during the 4th quarter valued at about $102,405,000. Kayne Anderson Capital Advisors LP raised its stake in TC Energy by 51.4% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 4,842,255 shares of the pipeline company's stock worth $225,310,000 after acquiring an additional 1,644,115 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of TC Energy during the fourth quarter valued at approximately $75,464,000. 83.13% of the stock is currently owned by institutional investors.

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TC Energy Price Performance

TC Energy stock traded up $0.97 during trading hours on Wednesday, hitting $48.77. 1,671,282 shares of the company traded hands, compared to its average volume of 2,631,223. TC Energy Co. has a 1-year low of $34.95 and a 1-year high of $50.37. The firm has a market cap of $50.69 billion, a P/E ratio of 15.05, a P/E/G ratio of 4.34 and a beta of 0.83. The firm's 50-day simple moving average is $46.54 and its two-hundred day simple moving average is $46.97. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.54. The business had revenue of $2.56 billion for 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 last year, the business earned $1.35 earnings per share. As a group, analysts forecast that TC Energy Co. will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 6.97%. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from TC Energy's previous quarterly dividend of $0.82. TC Energy's payout ratio is currently 72.53%.

Analyst Ratings Changes

TRP has been the topic of several recent research reports. Veritas raised TC Energy from a "strong sell" rating to a "strong-buy" rating in a report on Tuesday, February 18th. US Capital Advisors raised shares of TC Energy from a "hold" rating to a "moderate buy" rating in a report on Monday, February 3rd. Royal Bank of Canada increased their price objective on shares of TC Energy from $71.00 to $74.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. StockNews.com lowered shares of TC Energy from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Finally, TD Securities began coverage on shares of TC Energy in a research report on Wednesday, January 15th. They issued a "buy" rating for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $62.00.

TC Energy Company 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.