Hillsdale Investment Management Inc. Has $17.19 Million Position in TC Energy Co. (NYSE:TRP)

Hillsdale Investment Management Inc. lifted its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 1,273.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 369,221 shares of the pipeline company’s stock after purchasing an additional 342,332 shares during the quarter. TC Energy comprises 0.9% of Hillsdale Investment Management Inc.’s investment portfolio, making the stock its 22nd largest position. Hillsdale Investment Management Inc.’s holdings in TC Energy were worth $17,188,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. SBI Securities Co. Ltd. acquired a new stake in shares of TC Energy in the fourth quarter valued at approximately $31,000. Versant Capital Management Inc acquired a new stake in shares of TC Energy in the fourth quarter valued at approximately $33,000. Synergy Investment Management LLC acquired a new stake in shares of TC Energy in the fourth quarter valued at approximately $36,000. Point72 DIFC Ltd acquired a new stake in shares of TC Energy in the third quarter valued at approximately $39,000. Finally, Millstone Evans Group LLC acquired a new stake in shares of TC Energy in the fourth quarter valued at approximately $41,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

Analyst Upgrades and Downgrades

TRP has been the subject of a number of research reports. Royal Bank of Canada lifted their target price on shares of TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. Veritas raised shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 18th. StockNews.com lowered shares of TC Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Finally, TD Securities initiated coverage on shares of TC Energy in a report on Wednesday, January 15th. They set a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $62.00.

TC Energy Price Performance

Shares of TRP stock opened at $48.45 on Friday. TC Energy Co. has a 12-month low of $34.95 and a 12-month high of $50.37. The firm has a market capitalization of $50.34 billion, a price-to-earnings ratio of 14.95, a price-to-earnings-growth ratio of 4.34 and a beta of 0.83. 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 firm has a fifty day moving average of $46.33 and a 200-day moving average of $46.87.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.42 billion. During the same quarter in the previous year, the business earned $1.35 EPS. On average, equities research analysts forecast 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. Stockholders of record on Monday, March 31st will be issued a $0.85 dividend. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. The ex-dividend date is Monday, March 31st. This represents a $3.40 annualized dividend and a dividend yield of 7.02%. TC Energy’s payout ratio is 72.53%.

TC Energy Company Profile

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.