Hillsdale Investment Management Inc. Has $625,000 Position in TC Energy Corporation $TRP

Hillsdale Investment Management Inc. cut its position in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 74.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,493 shares of the pipeline company’s stock after selling 34,288 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in TC Energy were worth $625,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Campbell & CO Investment Adviser LLC bought a new stake in TC Energy during the 3rd quarter worth approximately $1,391,000. Norges Bank acquired a new position in shares of TC Energy during the second quarter worth $493,434,000. Advisors Asset Management Inc. grew its stake in shares of TC Energy by 38.8% in the third quarter. Advisors Asset Management Inc. now owns 88,140 shares of the pipeline company’s stock worth $4,796,000 after purchasing an additional 24,617 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its holdings in TC Energy by 9.2% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,365,500 shares of the pipeline company’s stock valued at $74,297,000 after purchasing an additional 115,000 shares during the period. Finally, Ausbil Investment Management Ltd raised its position in TC Energy by 33.2% during the 3rd quarter. Ausbil Investment Management Ltd now owns 100,519 shares of the pipeline company’s stock worth $5,415,000 after purchasing an additional 25,026 shares during the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on the company. Morgan Stanley reaffirmed an “overweight” rating on shares of TC Energy in a report on Wednesday, January 28th. BMO Capital Markets reaffirmed an “outperform” rating on shares of TC Energy in a research note on Tuesday, February 17th. Scotiabank reiterated an “outperform” rating on shares of TC Energy in a report on Tuesday, February 17th. Raymond James Financial upgraded shares of TC Energy to a “hold” rating in a report on Tuesday, February 17th. Finally, Wells Fargo & Company restated an “overweight” rating on shares of TC Energy in a research report on Monday, February 16th. Seven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $72.50.

TC Energy Trading Up 1.2%

NYSE TRP opened at $63.17 on Tuesday. The stock has a market capitalization of $65.77 billion, a P/E ratio of 27.18 and a beta of 0.73. The business has a 50 day simple moving average of $57.13 and a 200 day simple moving average of $54.16. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.63 and a quick ratio of 0.56. TC Energy Corporation has a one year low of $43.59 and a one year high of $63.94.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. The firm had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.94 billion. TC Energy had a return on equity of 10.52% and a net margin of 23.04%.During the same period in the prior year, the business earned $1.05 EPS. Research analysts expect that TC Energy Corporation will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be issued a $0.8775 dividend. The ex-dividend date is Tuesday, March 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.85. This represents a $3.51 dividend on an annualized basis and a yield of 5.6%. TC Energy’s dividend payout ratio is 106.90%.

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.