TC Energy Corporation $TRP is Thornburg Investment Management Inc.’s 7th Largest Position

Thornburg Investment Management Inc. raised its position in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 0.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,040,854 shares of the pipeline company’s stock after buying an additional 13,568 shares during the quarter. TC Energy accounts for 2.8% of Thornburg Investment Management Inc.’s portfolio, making the stock its 7th largest position. Thornburg Investment Management Inc. owned about 0.39% of TC Energy worth $222,536,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of TC Energy by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 47,801,695 shares of the pipeline company’s stock worth $2,632,200,000 after purchasing an additional 980,221 shares in the last quarter. Capital Research Global Investors lifted its position in shares of TC Energy by 2.5% in the third quarter. Capital Research Global Investors now owns 41,977,582 shares of the pipeline company’s stock worth $2,282,469,000 after purchasing an additional 1,041,864 shares in the last quarter. TD Asset Management Inc lifted its position in shares of TC Energy by 6.3% in the fourth quarter. TD Asset Management Inc now owns 20,868,772 shares of the pipeline company’s stock worth $1,150,656,000 after purchasing an additional 1,244,525 shares in the last quarter. GQG Partners LLC lifted its position in shares of TC Energy by 586.5% in the fourth quarter. GQG Partners LLC now owns 16,154,469 shares of the pipeline company’s stock worth $890,711,000 after purchasing an additional 13,801,371 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in shares of TC Energy by 63.2% in the fourth quarter. Deutsche Bank AG now owns 15,384,255 shares of the pipeline company’s stock worth $846,288,000 after purchasing an additional 5,956,263 shares in the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Trading Down 0.0%

Shares of TRP stock opened at $69.39 on Monday. TC Energy Corporation has a 12 month low of $46.29 and a 12 month high of $71.47. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 1.67. The business’s 50 day moving average is $65.69 and its two-hundred day moving average is $61.08. The company has a market cap of $69.39 billion, a PE ratio of 30.12 and a beta of 0.66.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Friday, May 1st. The pipeline company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.70 by $0.02. TC Energy had a return on equity of 10.74% and a net margin of 22.22%.The company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter last year, the company posted $0.95 earnings per share. Equities analysts predict that TC Energy Corporation will post 2.75 EPS for the current year.

TC Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.8775 per share. This represents a $3.51 annualized dividend and a yield of 5.1%. The ex-dividend date is Tuesday, June 30th. TC Energy’s dividend payout ratio (DPR) is 109.57%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Morgan Stanley lowered shares of TC Energy from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, June 10th. Scotiabank reissued an “outperform” rating on shares of TC Energy in a research report on Monday, May 4th. Raymond James Financial raised shares of TC Energy to a “hold” rating in a research report on Tuesday, February 17th. Citigroup reissued a “neutral” rating on shares of TC Energy in a research report on Thursday, February 19th. Finally, Royal Bank Of Canada increased their price target on shares of TC Energy from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $78.50.

About TC Energy

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.