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

Kayne Anderson Capital Advisors LP boosted its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 51.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,842,255 shares of the pipeline company’s stock after acquiring an additional 1,644,115 shares during the period. TC Energy accounts for 5.3% of Kayne Anderson Capital Advisors LP’s investment portfolio, making the stock its 9th biggest position. Kayne Anderson Capital Advisors LP’s holdings in TC Energy were worth $225,310,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. CIBC Asset Management Inc increased its position in shares of TC Energy by 8.4% during the 4th quarter. CIBC Asset Management Inc now owns 7,123,344 shares of the pipeline company’s stock valued at $331,863,000 after purchasing an additional 551,980 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in TC Energy by 156.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company’s stock valued at $321,778,000 after acquiring an additional 4,126,801 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of TC Energy by 8.3% in the third quarter. Geode Capital Management LLC now owns 4,712,660 shares of the pipeline company’s stock worth $225,890,000 after buying an additional 360,548 shares during the period. Merewether Investment Management LP boosted its position in TC Energy by 37.9% in the 3rd quarter. Merewether Investment Management LP now owns 4,097,600 shares of the pipeline company’s stock valued at $194,776,000 after buying an additional 1,127,000 shares during the period. Finally, Amundi grew its position in shares of TC Energy by 2.1% during the 4th quarter. Amundi now owns 3,937,675 shares of the pipeline company’s stock worth $188,181,000 after buying an additional 81,413 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TRP. Royal Bank of Canada lifted their price objective on shares of TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. US Capital Advisors raised TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. Veritas raised shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. TD Securities assumed coverage on shares of TC Energy in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. Finally, BMO Capital Markets raised their price target on TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $62.00.

TC Energy Price Performance

Shares of NYSE:TRP opened at $46.33 on Wednesday. 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. TC Energy Co. has a 52 week low of $34.95 and a 52 week high of $50.37. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56. The business has a fifty day simple moving average of $46.27 and a 200-day simple moving average of $46.77.

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

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a $0.85 dividend. This is an increase from TC Energy’s previous quarterly dividend of $0.82. This represents a $3.40 annualized dividend and a dividend yield of 7.34%. The ex-dividend date is Monday, March 31st. TC Energy’s dividend payout ratio (DPR) 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.