Hennessy Advisors Inc. Buys 19,300 Shares of TC Energy Co. (NYSE:TRP)

Hennessy Advisors Inc. lifted its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 3.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 576,700 shares of the pipeline company’s stock after acquiring an additional 19,300 shares during the period. Hennessy Advisors Inc. owned approximately 0.06% of TC Energy worth $26,834,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in TRP. Cohen Investment Advisors LLC increased its holdings in TC Energy by 2.9% during the 4th quarter. Cohen Investment Advisors LLC now owns 9,831 shares of the pipeline company’s stock worth $457,000 after purchasing an additional 279 shares in the last quarter. Ritholtz Wealth Management boosted its position in shares of TC Energy by 44.8% during the fourth quarter. Ritholtz Wealth Management now owns 23,957 shares of the pipeline company’s stock worth $1,115,000 after buying an additional 7,412 shares during the period. Dixon Mitchell Investment Counsel Inc. grew its holdings in shares of TC Energy by 21.4% during the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,921 shares of the pipeline company’s stock worth $91,000 after buying an additional 338 shares in the last quarter. Park Avenue Securities LLC raised its position in TC Energy by 144.5% in the 4th quarter. Park Avenue Securities LLC now owns 18,275 shares of the pipeline company’s stock valued at $851,000 after buying an additional 10,802 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in TC Energy by 3.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 33,445 shares of the pipeline company’s stock worth $1,558,000 after acquiring an additional 1,133 shares during the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on TRP shares. StockNews.com started coverage on shares of TC Energy in a research report on Wednesday, December 4th. They issued a “hold” rating on the stock. UBS Group raised shares of TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. Veritas raised TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. Finally, BMO Capital Markets increased their price target on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research report on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $55.67.

TC Energy Trading Down 1.7 %

Shares of NYSE:TRP opened at $46.10 on Friday. The company has a 50-day simple moving average of $47.68 and a 200 day simple moving average of $45.49. 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. 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.

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

TC Energy Increases Dividend

The business also recently declared 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 a boost from TC Energy’s previous quarterly dividend of $0.70. This represents a $3.29 annualized dividend and a yield of 7.13%. The ex-dividend date is Tuesday, December 31st. TC Energy’s dividend payout ratio is currently 63.43%.

TC Energy 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.