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

Hillsdale Investment Management Inc. reduced its position in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 74.9% during the third quarter, Holdings Channel reports. The institutional investor owned 11,493 shares of the pipeline company’s stock after selling 34,288 shares during the period. Hillsdale Investment Management Inc.’s holdings in TC Energy were worth $625,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Westside Investment Management Inc. increased its holdings in shares of TC Energy by 100.0% during the third quarter. Westside Investment Management Inc. now owns 594 shares of the pipeline company’s stock valued at $32,000 after acquiring an additional 297 shares in the last quarter. Smartleaf Asset Management LLC grew its position in TC Energy by 237.4% in the 3rd quarter. Smartleaf Asset Management LLC now owns 803 shares of the pipeline company’s stock valued at $43,000 after purchasing an additional 565 shares during the period. Sagard Holdings Management Inc. bought a new stake in TC Energy during the 2nd quarter valued at $46,000. SouthState Corp raised its holdings in TC Energy by 2,757.1% during the second quarter. SouthState Corp now owns 1,000 shares of the pipeline company’s stock worth $49,000 after buying an additional 965 shares during the last quarter. Finally, City Holding Co. bought a new position in shares of TC Energy in the third quarter valued at $72,000. Institutional investors own 83.13% of the company’s stock.

TC Energy Price Performance

Shares of NYSE TRP opened at $63.17 on Tuesday. The company has a market capitalization of $65.77 billion, a PE ratio of 27.18 and a beta of 0.73. The company has a quick ratio of 0.56, a current ratio of 0.63 and a debt-to-equity ratio of 1.66. The stock’s 50 day moving average price is $57.13 and its 200-day moving average price is $54.16. TC Energy Corporation has a twelve month low of $43.59 and a twelve month high of $63.94.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. The company had revenue of $2.20 billion during the quarter, compared to the consensus estimate 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 last year, the business posted $1.05 earnings per share. On average, equities analysts anticipate that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.8775 per share. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date is Tuesday, March 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.85. TC Energy’s dividend payout ratio (DPR) is presently 106.90%.

Analysts Set New Price Targets

TRP has been the subject of several recent research reports. Canadian Imperial Bank of Commerce downgraded shares of TC Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Weiss Ratings reissued a “buy (b-)” rating on shares of TC Energy in a report on Monday, December 29th. Citigroup restated a “neutral” rating on shares of TC Energy in a report on Thursday. BMO Capital Markets reaffirmed an “outperform” rating on shares of TC Energy in a research report on Tuesday, February 17th. Finally, National Bank Financial lowered TC Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Seven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $72.50.

TC Energy Company Profile

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.