TC Energy Co. (NYSE:TRP) Shares Sold by ClearBridge Investments Ltd

ClearBridge Investments Ltd trimmed its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 2.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,097,264 shares of the pipeline company’s stock after selling 30,510 shares during the quarter. TC Energy comprises approximately 1.2% of ClearBridge Investments Ltd’s portfolio, making the stock its 20th largest holding. ClearBridge Investments Ltd owned approximately 0.11% of TC Energy worth $41,586,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EdgeRock Capital LLC purchased a new position in shares of TC Energy during the 2nd quarter worth approximately $25,000. Creekmur Asset Management LLC purchased a new stake in shares of TC Energy during the 4th quarter worth approximately $27,000. Whittier Trust Co. of Nevada Inc. lifted its position in TC Energy by 138.8% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 429 shares during the last quarter. OLD Point Trust & Financial Services N A acquired a new stake in shares of TC Energy in the 4th quarter valued at about $31,000. Finally, Mather Group LLC. acquired a new stake in shares of TC Energy in the second quarter valued at approximately $33,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on TRP shares. StockNews.com initiated coverage on shares of TC Energy in a research note on Thursday. They set a “hold” rating on the stock. Barclays upgraded TC Energy from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $43.50.

TC Energy Stock Up 2.6 %

Shares of TC Energy stock opened at $46.18 on Monday. TC Energy Co. has a twelve month low of $32.51 and a twelve month high of $47.38. The stock has a market capitalization of $46.18 billion, a price-to-earnings ratio of 23.80, a PEG ratio of 3.81 and a beta of 0.81. The company has a current ratio of 0.76, a quick ratio of 0.68 and a debt-to-equity ratio of 1.57. The business’s 50 day simple moving average is $44.02 and its 200-day simple moving average is $40.37.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.29. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. The firm had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.78 billion. During the same period in the prior year, the firm posted $0.71 earnings per share. Equities research analysts forecast that TC Energy Co. will post 3.06 earnings per share for the current year.

TC Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be given a $0.702 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.81 annualized dividend and a yield of 6.08%. TC Energy’s dividend payout ratio (DPR) is 146.39%.

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.