HF Advisory Group LLC Raises Holdings in TC Energy Corporation $TRP

HF Advisory Group LLC increased its stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 37.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 99,188 shares of the pipeline company’s stock after acquiring an additional 26,853 shares during the quarter. HF Advisory Group LLC’s holdings in TC Energy were worth $5,456,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Campbell & CO Investment Adviser LLC bought a new stake in TC Energy during the 3rd quarter valued at $1,391,000. Advisors Asset Management Inc. grew its holdings in TC Energy by 38.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 88,140 shares of the pipeline company’s stock worth $4,796,000 after acquiring an additional 24,617 shares during the last quarter. Citigroup Inc. increased its position in shares of TC Energy by 19.2% in the third quarter. Citigroup Inc. now owns 378,086 shares of the pipeline company’s stock valued at $20,562,000 after acquiring an additional 61,013 shares during the period. Vanguard Group Inc. increased its position in shares of TC Energy by 2.0% in the third quarter. Vanguard Group Inc. now owns 46,821,474 shares of the pipeline company’s stock valued at $2,545,777,000 after acquiring an additional 914,168 shares during the period. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its stake in shares of TC Energy by 9.2% during the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,365,500 shares of the pipeline company’s stock valued at $74,297,000 after acquiring an additional 115,000 shares during the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TRP has been the subject of a number of analyst reports. Royal Bank Of Canada increased their target price on shares of TC Energy from $84.00 to $92.00 and gave the stock an “outperform” rating in a report on Tuesday, February 17th. Canadian Imperial Bank of Commerce downgraded TC Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Wall Street Zen raised TC Energy from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Morgan Stanley reiterated an “overweight” rating on shares of TC Energy in a report on Wednesday, January 28th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of TC Energy in a research report on Tuesday, February 17th. Seven equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $72.50.

TC Energy Trading Down 0.6%

NYSE:TRP opened at $62.23 on Thursday. The company has a 50-day moving average price of $61.97 and a 200-day moving average price of $56.47. The stock has a market cap of $64.79 billion, a price-to-earnings ratio of 26.78 and a beta of 0.72. The company has a current ratio of 0.63, a quick ratio of 0.56 and a debt-to-equity ratio of 1.66. TC Energy Corporation has a 12 month low of $43.59 and a 12 month high of $65.57.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.05. TC Energy had a net margin of 23.04% and a return on equity of 10.52%. The company had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter in the previous year, the company earned $1.05 earnings per share. Equities analysts predict that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.8775 per share. This is a positive change from TC Energy’s previous quarterly dividend of $0.85. The ex-dividend date is Tuesday, March 31st. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.6%. TC Energy’s dividend payout ratio (DPR) is currently 110.78%.

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.