Kayne Anderson Capital Advisors LP Purchases 722,619 Shares of TC Energy Co. (NYSE:TRP)

Kayne Anderson Capital Advisors LP boosted its stake in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 29.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,198,140 shares of the pipeline company's stock after buying an additional 722,619 shares during the quarter. TC Energy makes up about 3.9% of Kayne Anderson Capital Advisors LP's investment portfolio, making the stock its 12th largest position. Kayne Anderson Capital Advisors LP owned 0.31% of TC Energy worth $152,072,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of the stock. EdgeRock Capital LLC acquired a new position in shares of TC Energy in the 2nd quarter worth approximately $25,000. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of TC Energy by 138.8% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company's stock worth $28,000 after purchasing an additional 429 shares during the last quarter. Fortitude Family Office LLC acquired a new stake in shares of TC Energy in the third quarter valued at $28,000. Blue Trust Inc. raised its holdings in shares of TC Energy by 72.0% in the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company's stock valued at $30,000 after buying an additional 267 shares during the last quarter. Finally, Mather Group LLC. acquired a new position in TC Energy during the 2nd quarter worth about $33,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on TRP shares. JPMorgan Chase & Co. upgraded shares of TC Energy from a "neutral" rating to an "overweight" rating in a research report on Monday, October 14th. UBS Group upgraded shares of TC Energy from a "neutral" rating to a "buy" rating in a research report on Monday, September 30th. The Goldman Sachs Group lifted their target price on TC Energy from $38.00 to $42.00 and gave the company a "sell" rating in a research note on Monday, October 21st. Veritas raised TC Energy to a "strong sell" rating in a research note on Tuesday, October 8th. Finally, StockNews.com initiated coverage on TC Energy in a research report on Saturday, October 5th. They issued a "hold" rating for the company. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, TC Energy presently has an average rating of "Hold" and a consensus target price of $48.50.

TC Energy Price Performance

TC Energy stock traded up $0.91 during trading hours on Monday, reaching $49.90. 1,542,227 shares of the stock were exchanged, compared to its average volume of 3,076,571. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78. TC Energy Co. has a twelve month low of $31.83 and a twelve month high of $50.22. The company has a market cap of $51.79 billion, a P/E ratio of 13.82, a price-to-earnings-growth ratio of 4.12 and a beta of 0.81. The stock has a 50 day moving average of $46.93 and a two-hundred day moving average of $42.92.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.06. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. The firm had revenue of $2.99 billion during the quarter, compared to analysts' expectations of $2.83 billion. Equities analysts expect that TC Energy Co. will post 2.98 EPS for the current fiscal year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $0.822 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $3.29 dividend on an annualized basis and a yield of 6.59%. This is a positive change from TC Energy's previous quarterly dividend of $0.70. TC Energy's dividend payout ratio (DPR) is currently 78.95%.

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.