TC Energy Co. (NYSE:TRP) Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. lifted its holdings in shares of TC Energy Co. (NYSE:TRPGet Rating) (TSE:TRP) by 5.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,901,481 shares of the pipeline company’s stock after acquiring an additional 104,933 shares during the period. Franklin Resources Inc.’s holdings in TC Energy were worth $98,501,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Cetera Advisor Networks LLC raised its position in shares of TC Energy by 6.1% during the 2nd quarter. Cetera Advisor Networks LLC now owns 6,011 shares of the pipeline company’s stock worth $311,000 after acquiring an additional 347 shares in the last quarter. Checchi Capital Advisers LLC raised its position in shares of TC Energy by 18.0% during the 2nd quarter. Checchi Capital Advisers LLC now owns 9,110 shares of the pipeline company’s stock worth $486,000 after acquiring an additional 1,388 shares in the last quarter. Clearbridge Investments LLC raised its position in shares of TC Energy by 30.8% during the 2nd quarter. Clearbridge Investments LLC now owns 2,160,067 shares of the pipeline company’s stock worth $111,913,000 after acquiring an additional 509,169 shares in the last quarter. BOKF NA raised its position in shares of TC Energy by 1.6% during the 2nd quarter. BOKF NA now owns 28,363 shares of the pipeline company’s stock worth $1,469,000 after acquiring an additional 446 shares in the last quarter. Finally, FORA Capital LLC acquired a new position in TC Energy during the second quarter worth approximately $564,000. Institutional investors and hedge funds own 70.14% of the company’s stock.

TC Energy Trading Up 0.7 %

Shares of TRP stock opened at $48.81 on Thursday. The business’s 50 day moving average is $44.20 and its two-hundred day moving average is $49.69. TC Energy Co. has a twelve month low of $39.11 and a twelve month high of $59.38. The company has a market capitalization of $49.39 billion, a P/E ratio of 19.29, a price-to-earnings-growth ratio of 3.83 and a beta of 0.80. The company has a current ratio of 0.53, a quick ratio of 0.47 and a debt-to-equity ratio of 1.54.

TC Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Investors of record on Friday, December 30th will be paid a $0.661 dividend. The ex-dividend date is Thursday, December 29th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 5.42%. TC Energy’s dividend payout ratio (DPR) is presently 103.95%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. TD Securities lifted their price target on TC Energy from C$75.00 to C$76.00 in a research report on Thursday, August 11th. StockNews.com assumed coverage on TC Energy in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Royal Bank of Canada cut their price target on TC Energy from C$78.00 to C$75.00 and set an “outperform” rating on the stock in a research report on Thursday, November 10th. BMO Capital Markets cut their price target on TC Energy from C$76.00 to C$72.00 in a research report on Thursday, August 11th. Finally, Barclays cut their price target on TC Energy from C$67.00 to C$65.00 in a research report on Wednesday, October 19th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $67.00.

About TC Energy

(Get Rating)

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 Storage. The company builds and operates 93,300 km network 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.

Further Reading

Want to see what other hedge funds are holding TRP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TC Energy Co. (NYSE:TRPGet Rating) (TSE:TRP).

Institutional Ownership by Quarter for TC Energy (NYSE:TRP)

Receive News & Ratings for TC Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TC Energy and related companies with MarketBeat.com's FREE daily email newsletter.