Hennessy Advisors Inc. Has $23.61 Million Stock Holdings in TC Energy Co. (NYSE:TRP)

Hennessy Advisors Inc. lessened its position in TC Energy Co. (NYSE:TRPFree Report) (TSE:TRP) by 6.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 587,300 shares of the pipeline company’s stock after selling 39,700 shares during the quarter. Hennessy Advisors Inc. owned approximately 0.06% of TC Energy worth $23,609,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Stifel Financial Corp grew its stake in TC Energy by 4.9% in the third quarter. Stifel Financial Corp now owns 354,345 shares of the pipeline company’s stock valued at $12,193,000 after purchasing an additional 16,641 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in TC Energy by 65.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 22,869 shares of the pipeline company’s stock valued at $787,000 after purchasing an additional 9,048 shares during the period. Van Lanschot Kempen Investment Management N.V. bought a new stake in TC Energy in the 3rd quarter valued at $3,072,000. Schonfeld Strategic Advisors LLC boosted its stake in TC Energy by 80.6% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 73,700 shares of the pipeline company’s stock valued at $2,536,000 after purchasing an additional 32,900 shares during the period. Finally, Blackstone Inc. boosted its stake in TC Energy by 540.4% in the 3rd quarter. Blackstone Inc. now owns 3,117,031 shares of the pipeline company’s stock valued at $107,257,000 after purchasing an additional 2,630,324 shares during the period. Institutional investors and hedge funds own 83.13% of the company’s stock.

Analyst Ratings Changes

Separately, TheStreet raised TC Energy from a “c+” rating to a “b-” rating in a report on Wednesday, March 20th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $48.83.

Get Our Latest Stock Report on TC Energy

TC Energy Stock Down 2.2 %

TRP stock traded down $0.86 during trading on Friday, reaching $37.69. 1,828,087 shares of the stock were exchanged, compared to its average volume of 2,993,804. The firm’s 50 day moving average is $37.99 and its 200 day moving average is $38.77. TC Energy Co. has a twelve month low of $32.51 and a twelve month high of $41.03. The company has a current ratio of 0.94, a quick ratio of 0.85 and a debt-to-equity ratio of 1.64. The firm has a market cap of $37.69 billion, a P/E ratio of 19.87, a price-to-earnings-growth ratio of 3.20 and a beta of 0.79.

TC Energy (NYSE:TRPGet Free Report) (TSE:TRP) last issued its quarterly earnings data on Friday, May 3rd. The pipeline company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.83 by $0.09. The firm had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.12 billion. TC Energy had a return on equity of 17.94% and a net margin of 17.23%. As a group, research analysts forecast that TC Energy Co. will post 3.01 EPS for the current year.

TC Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 7.54%. The ex-dividend date of this dividend is Friday, June 28th. TC Energy’s dividend payout ratio (DPR) is 145.88%.

TC Energy Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for TC Energy (NYSE:TRP)

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