K.J. Harrison & Partners Inc Has $12.10 Million Stock Position in TC Energy Co. (NYSE:TRP)

K.J. Harrison & Partners Inc lowered its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 17.9% during the fourth quarter, Holdings Channel reports. The fund owned 255,661 shares of the pipeline company’s stock after selling 55,820 shares during the quarter. TC Energy makes up 1.9% of K.J. Harrison & Partners Inc’s holdings, making the stock its 11th largest holding. K.J. Harrison & Partners Inc’s holdings in TC Energy were worth $12,097,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Checchi Capital Advisers LLC increased its holdings in shares of TC Energy by 15.8% in the 4th quarter. Checchi Capital Advisers LLC now owns 5,137 shares of the pipeline company’s stock valued at $239,000 after purchasing an additional 699 shares during the period. Bank of New York Mellon Corp increased its stake in TC Energy by 8.3% in the 4th quarter. Bank of New York Mellon Corp now owns 905,014 shares of the pipeline company’s stock valued at $42,110,000 after buying an additional 69,419 shares during the period. IFP Advisors Inc lifted its position in TC Energy by 7.0% in the 4th quarter. IFP Advisors Inc now owns 3,809 shares of the pipeline company’s stock worth $177,000 after buying an additional 249 shares in the last quarter. Atlantic Family Wealth LLC acquired a new stake in shares of TC Energy during the 4th quarter valued at $251,000. Finally, Lipe & Dalton grew its holdings in shares of TC Energy by 1.9% during the 4th quarter. Lipe & Dalton now owns 53,657 shares of the pipeline company’s stock valued at $2,497,000 after acquiring an additional 980 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Trading Up 0.3 %

TC Energy stock opened at $44.41 on Thursday. TC Energy Co. has a 52 week low of $31.83 and a 52 week high of $50.37. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55. The firm has a market capitalization of $46.15 billion, a PE ratio of 13.71, a PEG ratio of 4.34 and a beta of 0.81. The business’s 50-day simple moving average is $46.39 and its 200-day simple moving average is $46.68.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.54. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.42 billion. During the same quarter last year, the company posted $1.35 earnings per share. Equities research analysts forecast that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 7.66%. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, March 31st. TC Energy’s payout ratio is currently 71.91%.

Analyst Ratings Changes

Several brokerages recently issued reports on TRP. BMO Capital Markets increased their price objective on TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a report on Wednesday, November 20th. Veritas raised shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. TD Securities assumed coverage on shares of TC Energy in a research report on Wednesday, January 15th. They issued a “buy” rating for the company. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. Finally, StockNews.com upgraded TC Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, TC Energy currently has a consensus rating of “Moderate Buy” and an average price target of $62.00.

About TC Energy

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.