Kayne Anderson Capital Advisors LP Has $66.08 Million Holdings in TC Energy Co. (NYSE:TRP)

Kayne Anderson Capital Advisors LP raised its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 7.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,690,521 shares of the pipeline company’s stock after purchasing an additional 124,100 shares during the period. TC Energy accounts for approximately 2.1% of Kayne Anderson Capital Advisors LP’s portfolio, making the stock its 17th largest position. Kayne Anderson Capital Advisors LP owned 0.17% of TC Energy worth $66,082,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Commonwealth Equity Services LLC grew its stake in TC Energy by 10.0% during the third quarter. Commonwealth Equity Services LLC now owns 92,505 shares of the pipeline company’s stock worth $3,183,000 after purchasing an additional 8,378 shares during the period. Verdence Capital Advisors LLC increased its stake in shares of TC Energy by 4.8% in the 3rd quarter. Verdence Capital Advisors LLC now owns 23,554 shares of the pipeline company’s stock valued at $810,000 after acquiring an additional 1,071 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of TC Energy by 7.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,146,617 shares of the pipeline company’s stock valued at $73,865,000 after acquiring an additional 152,499 shares during the period. Heathbridge Capital Management Ltd. boosted its stake in TC Energy by 16.8% during the third quarter. Heathbridge Capital Management Ltd. now owns 655,365 shares of the pipeline company’s stock worth $22,640,000 after acquiring an additional 94,200 shares in the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its holdings in TC Energy by 76.0% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 717,780 shares of the pipeline company’s stock worth $24,699,000 after purchasing an additional 309,900 shares during the period. 83.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group started coverage on shares of TC Energy in a report on Tuesday, February 27th. They set a “hold” rating on the stock. The Goldman Sachs Group raised their price objective on TC Energy from $29.00 to $32.00 and gave the company a “sell” rating in a research note on Friday, January 26th. Stifel Nicolaus assumed coverage on TC Energy in a research report on Thursday, January 18th. They set a “buy” rating on the stock. Barclays lifted their price target on shares of TC Energy from $53.00 to $55.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. Finally, TheStreet upgraded shares of TC Energy from a “c+” rating to a “b-” rating in a report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $48.83.

TC Energy Stock Up 0.4 %

Shares of TRP stock traded up $0.15 on Thursday, hitting $38.02. The stock had a trading volume of 252,013 shares, compared to its average volume of 3,054,359. TC Energy Co. has a 12-month low of $32.51 and a 12-month high of $42.31. The stock has a market cap of $38.02 billion, a price-to-earnings ratio of 19.52, a price-to-earnings-growth ratio of 3.24 and a beta of 0.76. The business has a 50 day moving average of $38.42 and a 200 day moving average of $38.18. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.96 and a quick ratio of 0.88.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Friday, February 16th. The pipeline company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.20. The firm had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $2.93 billion. TC Energy had a return on equity of 20.63% and a net margin of 17.23%. As a group, analysts expect that TC Energy Co. will post 2.9 EPS for the current year.

TC Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 7.47%. The ex-dividend date is Friday, June 28th. TC Energy’s dividend payout ratio is presently 145.88%.

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.