Kayne Anderson Capital Advisors LP Raises Holdings in TC Energy Corporation $TRP

Kayne Anderson Capital Advisors LP increased its stake in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 16.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 5,361,657 shares of the pipeline company’s stock after purchasing an additional 744,801 shares during the quarter. TC Energy makes up 6.4% of Kayne Anderson Capital Advisors LP’s investment portfolio, making the stock its 7th largest holding. Kayne Anderson Capital Advisors LP’s holdings in TC Energy were worth $291,728,000 as of its most recent filing with the SEC.

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on TRP shares. BMO Capital Markets reissued an “outperform” rating on shares of TC Energy in a research report on Tuesday, February 17th. Raymond James Financial raised TC Energy to a “hold” rating in a research report on Tuesday, February 17th. Wall Street Zen upgraded TC Energy from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. National Bank Financial cut TC Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Finally, The Goldman Sachs Group boosted their target price on shares of TC Energy from $48.00 to $53.00 and gave the stock a “sell” rating in a research report on Wednesday, February 18th. Seven investment 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $72.50.

TC Energy Trading Up 0.5%

Shares of TRP opened at $63.43 on Wednesday. The company has a current ratio of 0.63, a quick ratio of 0.56 and a debt-to-equity ratio of 1.66. The stock has a market cap of $66.04 billion, a PE ratio of 27.29 and a beta of 0.73. TC Energy Corporation has a 1 year low of $43.59 and a 1 year high of $63.94. The stock has a 50 day simple moving average of $57.33 and a 200-day simple moving average of $54.26.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Friday, February 13th. The pipeline company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. TC Energy had a net margin of 23.04% and a return on equity of 10.52%. The business had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter last year, the company posted $1.05 EPS. On average, sell-side analysts predict that TC Energy Corporation will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be given a $0.8775 dividend. This is a boost from TC Energy’s previous quarterly dividend of $0.85. The ex-dividend date is Tuesday, March 31st. This represents a $3.51 annualized dividend and a yield of 5.5%. TC Energy’s dividend payout ratio is presently 106.90%.

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.