Thornburg Investment Management Inc. boosted its position in shares of TC Energy Corporation (NYSE:TRP – Free Report) (TSE:TRP) by 0.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,755,014 shares of the pipeline company’s stock after purchasing an additional 34,292 shares during the period. TC Energy comprises 3.0% of Thornburg Investment Management Inc.’s holdings, making the stock its 10th biggest holding. Thornburg Investment Management Inc.’s holdings in TC Energy were worth $314,611,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TRP. Sterling Capital Management LLC bought a new stake in TC Energy in the first quarter worth about $26,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of TC Energy during the fourth quarter valued at approximately $25,000. Trust Co. of Vermont bought a new position in shares of TC Energy during the second quarter valued at approximately $33,000. McIlrath & Eck LLC purchased a new stake in shares of TC Energy in the fourth quarter worth approximately $32,000. Finally, SWAN Capital LLC purchased a new stake in shares of TC Energy in the third quarter worth approximately $40,000. 83.13% of the stock is owned by hedge funds and other institutional investors.
TC Energy Price Performance
Shares of TRP stock opened at $61.87 on Friday. TC Energy Corporation has a twelve month low of $49.27 and a twelve month high of $71.47. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.64. The stock has a fifty day simple moving average of $66.33 and a two-hundred day simple moving average of $65.34. The stock has a market capitalization of $64.46 billion, a price-to-earnings ratio of 25.67 and a beta of 0.66.
TC Energy Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Tuesday, September 29th will be issued a dividend of $0.8775 per share. This represents a $3.51 annualized dividend and a yield of 5.7%. The ex-dividend date is Tuesday, September 29th. TC Energy’s dividend payout ratio is presently 102.49%.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on the company. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a report on Thursday, August 20th. Barclays reiterated an “overweight” rating on shares of TC Energy in a research note on Thursday, July 16th. National Bank Financial upgraded TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 4th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of TC Energy in a research note on Tuesday, May 26th. Finally, Royal Bank Of Canada raised their target price on shares of TC Energy from $104.00 to $106.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $89.00.
View Our Latest Stock Analysis on TRP
TC Energy Company 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.
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