Hennessy Advisors Inc. Has $26.83 Million Stock Position in TC Energy Co. (NYSE:TRP)

Hennessy Advisors Inc. increased its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 3.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 576,700 shares of the pipeline company’s stock after acquiring an additional 19,300 shares during the quarter. Hennessy Advisors Inc.’s holdings in TC Energy were worth $26,834,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of TRP. Fortitude Family Office LLC bought a new position in shares of TC Energy during the third quarter worth approximately $28,000. Blue Trust Inc. increased its stake in TC Energy by 72.0% during the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after acquiring an additional 267 shares during the period. Versant Capital Management Inc acquired a new position in TC Energy in the 4th quarter valued at $33,000. Point72 DIFC Ltd bought a new stake in shares of TC Energy during the 3rd quarter valued at $39,000. Finally, Farther Finance Advisors LLC increased its position in shares of TC Energy by 215.7% in the third quarter. Farther Finance Advisors LLC now owns 1,209 shares of the pipeline company’s stock worth $57,000 after purchasing an additional 826 shares during the period. Institutional investors and hedge funds own 83.13% of the company’s stock.

Analysts Set New Price Targets

TRP has been the topic of a number of analyst reports. The Goldman Sachs Group increased their price objective on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research note on Monday, October 21st. TD Securities initiated coverage on TC Energy in a research note on Wednesday. They issued a “buy” rating on the stock. StockNews.com initiated coverage on TC Energy in a research report on Wednesday, December 4th. They set a “hold” rating for the company. Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. raised TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $55.67.

TC Energy Stock Down 1.7 %

Shares of NYSE TRP opened at $46.10 on Friday. The company’s 50 day moving average price is $47.68 and its 200-day moving average price is $45.49. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31. TC Energy Co. has a 52-week low of $31.83 and a 52-week high of $50.37. The company has a market capitalization of $47.88 billion, a P/E ratio of 12.77, a price-to-earnings-growth ratio of 4.31 and a beta of 0.82.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. The business had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.83 billion. Equities analysts forecast that TC Energy Co. will post 2.95 earnings per share for the current year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.822 dividend. This is an increase from TC Energy’s previous quarterly dividend of $0.70. This represents a $3.29 dividend on an annualized basis and a yield of 7.13%. The ex-dividend date is Tuesday, December 31st. TC Energy’s payout ratio is presently 63.43%.

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.