Hillsdale Investment Management Inc. Purchases 342,332 Shares of TC Energy Co. (NYSE:TRP)

Hillsdale Investment Management Inc. increased its position in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 1,273.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 369,221 shares of the pipeline company's stock after purchasing an additional 342,332 shares during the quarter. TC Energy makes up 0.9% of Hillsdale Investment Management Inc.'s portfolio, making the stock its 22nd biggest position. Hillsdale Investment Management Inc.'s holdings in TC Energy were worth $17,188,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of TRP. Kayne Anderson Capital Advisors LP raised its position in shares of TC Energy by 51.4% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 4,842,255 shares of the pipeline company's stock valued at $225,310,000 after acquiring an additional 1,644,115 shares during the period. Raymond James Financial Inc. acquired a new position in TC Energy in the 4th quarter worth $75,464,000. Zurich Insurance Group Ltd FI bought a new position in shares of TC Energy during the third quarter worth about $73,162,000. Merewether Investment Management LP boosted its stake in shares of TC Energy by 37.9% during the 3rd quarter. Merewether Investment Management LP now owns 4,097,600 shares of the pipeline company's stock worth $194,776,000 after buying an additional 1,127,000 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. boosted its holdings in shares of TC Energy by 70.7% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,763,915 shares of the pipeline company's stock valued at $83,874,000 after buying an additional 730,415 shares during the last quarter. Institutional investors own 83.13% of the company's stock.

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TC Energy Price Performance

NYSE TRP traded down $0.44 during trading hours on Wednesday, hitting $48.43. The company had a trading volume of 1,622,720 shares, compared to its average volume of 2,499,781. The firm has a 50 day simple moving average of $46.45 and a 200 day simple moving average of $46.91. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55. TC Energy Co. has a 52 week low of $34.95 and a 52 week high of $50.37. The firm has a market capitalization of $50.32 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 4.34 and a beta of 0.83.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its quarterly earnings results 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. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. The business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.42 billion. During the same period in the previous year, the firm posted $1.35 earnings per share. Equities research analysts expect that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 7.02%. This is a boost from TC Energy's previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, March 31st. TC Energy's dividend payout ratio is presently 72.53%.

Analyst Ratings Changes

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

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.