Hillsdale Investment Management Inc. Acquires 139,552 Shares of TC Energy Corporation $TRP

Hillsdale Investment Management Inc. raised its holdings in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 1,039.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 152,977 shares of the pipeline company’s stock after acquiring an additional 139,552 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in TC Energy were worth $9,577,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of TRP. Sterling Capital Management LLC purchased a new stake in shares of TC Energy in the 1st quarter worth $26,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in TC Energy in the 4th quarter worth $25,000. Trust Co. of Vermont purchased a new position in TC Energy during the fourth quarter valued at $28,000. McIlrath & Eck LLC purchased a new position in TC Energy during the fourth quarter valued at $32,000. Finally, SWAN Capital LLC bought a new stake in TC Energy during the third quarter valued at about $40,000. Institutional investors own 83.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on TRP shares. Barclays restated an “overweight” rating on shares of TC Energy in a research report on Monday, May 4th. TD Securities reaffirmed a “hold” rating on shares of TC Energy in a research report on Monday, May 4th. National Bank Financial upgraded TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 4th. Scotiabank reissued an “outperform” rating on shares of TC Energy in a report on Monday, May 4th. Finally, Morgan Stanley lowered shares of TC Energy from an “overweight” rating to an “equal weight” rating in a report on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, TC Energy presently has an average rating of “Moderate Buy” and a consensus target price of $78.50.

TC Energy Trading Up 0.9%

TC Energy stock opened at $67.90 on Tuesday. TC Energy Corporation has a 1 year low of $46.61 and a 1 year high of $71.47. The firm’s 50 day moving average price is $68.05 and its 200-day moving average price is $63.12. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.65 and a quick ratio of 0.57. The stock has a market cap of $70.75 billion, a P/E ratio of 29.47 and a beta of 0.66.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Friday, May 1st. The pipeline company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. The firm had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.20 billion. TC Energy had a net margin of 22.22% and a return on equity of 10.74%. During the same quarter in the prior year, the business earned $0.95 earnings per share. On average, equities analysts predict that TC Energy Corporation will post 2.72 earnings per share for the current fiscal year.

TC Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be paid a $0.8775 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $3.51 annualized dividend and a yield of 5.2%. TC Energy’s payout ratio is presently 107.39%.

About TC Energy

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.