TC Energy Co. (NYSE:TRP) Holdings Boosted by Kayne Anderson Capital Advisors LP

Kayne Anderson Capital Advisors LP boosted its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 51.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,842,255 shares of the pipeline company’s stock after acquiring an additional 1,644,115 shares during the quarter. TC Energy comprises approximately 5.3% of Kayne Anderson Capital Advisors LP’s portfolio, making the stock its 9th biggest holding. Kayne Anderson Capital Advisors LP owned about 0.47% of TC Energy worth $225,310,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Addenda Capital Inc. raised its stake in TC Energy by 4.4% in the 4th quarter. Addenda Capital Inc. now owns 1,034,497 shares of the pipeline company’s stock valued at $48,135,000 after purchasing an additional 43,639 shares during the last quarter. Captrust Financial Advisors grew its position in TC Energy by 1.3% in the third quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock valued at $871,000 after acquiring an additional 242 shares in the last quarter. Ritholtz Wealth Management boosted its position in TC Energy by 44.8% in the 4th quarter. Ritholtz Wealth Management now owns 23,957 shares of the pipeline company’s stock valued at $1,115,000 after buying an additional 7,412 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in TC Energy during the 3rd quarter valued at $3,771,000. Finally, Exchange Traded Concepts LLC grew its position in shares of TC Energy by 7.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,034,698 shares of the pipeline company’s stock worth $48,144,000 after acquiring an additional 71,955 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on TRP shares. TD Securities started coverage on TC Energy in a research report on Wednesday, January 15th. They issued a “buy” rating on the stock. Veritas raised TC Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 18th. StockNews.com cut shares of TC Energy from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Royal Bank of Canada raised their price target on shares of TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Finally, US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, TC Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

TC Energy Stock Up 0.2 %

Shares of TRP opened at $46.33 on Wednesday. The firm has a 50 day simple moving average of $46.27 and a two-hundred day simple moving average of $46.77. The company has a market cap of $48.14 billion, a P/E ratio of 14.30, a P/E/G ratio of 4.34 and a beta of 0.83. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23. TC Energy Co. has a one year low of $34.95 and a one year high of $50.37.

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

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 7.34%. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s dividend payout ratio is 72.53%.

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.