ClearBridge Investments Ltd Lowers Holdings in TC Energy Co. (NYSE:TRP)

ClearBridge Investments Ltd lessened its position in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 1.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,566,048 shares of the pipeline company's stock after selling 49,845 shares during the quarter. TC Energy comprises about 2.8% of ClearBridge Investments Ltd's investment portfolio, making the stock its 16th biggest position. ClearBridge Investments Ltd owned about 0.26% of TC Energy worth $100,307,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. EdgeRock Capital LLC bought a new position in TC Energy in the 4th quarter worth $25,000. Bruce G. Allen Investments LLC bought a new position in shares of TC Energy during the 4th quarter worth about $26,000. AdvisorNet Financial Inc increased its holdings in shares of TC Energy by 25.8% during the 4th quarter. AdvisorNet Financial Inc now owns 1,483 shares of the pipeline company's stock worth $58,000 after purchasing an additional 304 shares during the period. Whittier Trust Co. increased its holdings in shares of TC Energy by 1,500.0% during the 4th quarter. Whittier Trust Co. now owns 1,840 shares of the pipeline company's stock worth $72,000 after purchasing an additional 1,725 shares during the period. Finally, Parkside Financial Bank & Trust bought a new position in shares of TC Energy during the 4th quarter worth about $74,000. Institutional investors own 83.13% of the company's stock.

Wall Street Analysts Forecast Growth

TRP has been the topic of several research reports. TheStreet upgraded shares of TC Energy from a "c+" rating to a "b-" rating in a report on Wednesday, March 20th. The Goldman Sachs Group boosted their price objective on shares of TC Energy from $29.00 to $32.00 and gave the stock a "sell" rating in a report on Friday, January 26th. Barclays upped their target price on shares of TC Energy from $53.00 to $55.00 and gave the company an "equal weight" rating in a research note on Monday, January 29th. Finally, Jefferies Financial Group started coverage on shares of TC Energy in a research note on Tuesday, February 27th. They issued a "hold" rating on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $48.83.

TC Energy Price Performance

NYSE:TRP traded up $0.15 on Monday, reaching $39.06. The stock had a trading volume of 1,128,550 shares, compared to its average volume of 2,995,912. The company has a market capitalization of $39.06 billion, a P/E ratio of 20.12, a price-to-earnings-growth ratio of 3.26 and a beta of 0.75. TC Energy Co. has a 1-year low of $32.51 and a 1-year high of $41.85. The company has a quick ratio of 0.85, a current ratio of 0.94 and a debt-to-equity ratio of 1.64. The stock has a fifty day moving average price of $38.22 and a 200-day moving average price of $38.43.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its earnings results on Friday, February 16th. The pipeline company reported $0.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.79 by $0.20. TC Energy had a net margin of 17.23% and a return on equity of 17.94%. The company had revenue of $3.11 billion for the quarter, compared to analyst estimates of $2.93 billion. Research analysts forecast that TC Energy Co. will post 2.98 EPS for the current year.

TC Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be given a dividend of $0.71 per share. The ex-dividend date is Friday, June 28th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.27%. TC Energy's payout ratio is 143.30%.

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.