TC Energy Corporation $TRP Position Raised by Hennessy Advisors Inc.

Hennessy Advisors Inc. lifted its stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 4.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 435,500 shares of the pipeline company’s stock after buying an additional 17,700 shares during the quarter. Hennessy Advisors Inc.’s holdings in TC Energy were worth $25,163,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in TRP. Groupe la Francaise lifted its holdings in TC Energy by 2.1% during the first quarter. Groupe la Francaise now owns 7,352 shares of the pipeline company’s stock valued at $459,000 after purchasing an additional 154 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its position in shares of TC Energy by 1.1% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 22,946 shares of the pipeline company’s stock valued at $1,519,000 after purchasing an additional 257 shares in the last quarter. HB Wealth Management LLC raised its holdings in shares of TC Energy by 2.4% in the 1st quarter. HB Wealth Management LLC now owns 11,671 shares of the pipeline company’s stock valued at $729,000 after acquiring an additional 272 shares in the last quarter. Louisbourg Investments Inc. lifted its position in TC Energy by 3.0% during the third quarter. Louisbourg Investments Inc. now owns 11,421 shares of the pipeline company’s stock valued at $663,000 after purchasing an additional 329 shares during the last quarter. Finally, Cohen Investment Advisors LLC raised its position in TC Energy by 3.7% during the third quarter. Cohen Investment Advisors LLC now owns 9,212 shares of the pipeline company’s stock valued at $535,000 after purchasing an additional 332 shares in the last quarter. Institutional investors own 83.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on TRP shares. The Goldman Sachs Group raised TC Energy from a “neutral” rating to a “buy” rating and set a $71.00 price objective on the stock in a research note on Wednesday, September 30th. TD upgraded shares of TC Energy to a “buy” rating in a report on Tuesday, September 15th. Barclays reaffirmed an “overweight” rating on shares of TC Energy in a research report on Thursday, July 16th. Scotiabank reaffirmed an “outperform” rating on shares of TC Energy in a research report on Tuesday, July 21st. Finally, Jefferies Financial Group upgraded shares of TC Energy from a “hold” rating to a “buy” rating in a report on Tuesday, September 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, TC Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.75.

TC Energy Trading Up 0.1%

Shares of TRP opened at $64.54 on Monday. The company’s fifty day moving average is $61.27 and its 200 day moving average is $63.63. TC Energy Corporation has a fifty-two week low of $49.27 and a fifty-two week high of $71.47. The stock has a market capitalization of $64.54 billion, a PE ratio of 26.78 and a beta of 0.64. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.54 and a current ratio of 0.61.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Thursday, July 30th. The pipeline company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.07. TC Energy had a net margin of 22.91% and a return on equity of 11.10%. The firm had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.76 billion. During the same quarter last year, the business earned $0.82 EPS. Sell-side analysts expect that TC Energy Corporation will post 2.79 earnings per share for the current fiscal year.

TC Energy Profile

TC Energy Corporation (NYSE: TRP) is a North American energy infrastructure company that develops and operates natural gas pipelines, storage facilities, power-generation assets and related energy infrastructure. Its natural gas pipeline network connects major supply basins with utilities, power producers, industrial customers and local distribution companies.

The company’s operations are primarily located in Canada and the United States, with additional natural gas pipeline interests in Mexico.