Hennessy Advisors Inc. Has $24.51 Million Stock Holdings in TC Energy Co. (NYSE:TRP)

Hennessy Advisors Inc. cut its stake in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 7.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 627,000 shares of the pipeline company's stock after selling 52,200 shares during the period. TC Energy comprises approximately 1.8% of Hennessy Advisors Inc.'s investment portfolio, making the stock its 8th biggest position. Hennessy Advisors Inc. owned approximately 0.06% of TC Energy worth $24,509,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Bruce G. Allen Investments LLC bought a new stake in shares of TC Energy in the fourth quarter worth $26,000. Money Concepts Capital Corp grew its stake in shares of TC Energy by 149.1% in the fourth quarter. Money Concepts Capital Corp now owns 949 shares of the pipeline company's stock worth $38,000 after purchasing an additional 568 shares during the last quarter. Chilton Capital Management LLC bought a new stake in shares of TC Energy in the first quarter worth $41,000. Hexagon Capital Partners LLC grew its stake in shares of TC Energy by 158.3% in the third quarter. Hexagon Capital Partners LLC now owns 1,085 shares of the pipeline company's stock worth $37,000 after purchasing an additional 665 shares during the last quarter. Finally, ICA Group Wealth Management LLC bought a new stake in shares of TC Energy in the fourth quarter worth $47,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Stock Up 1.4 %

Shares of TRP stock traded up $0.56 on Friday, reaching $40.20. 1,703,360 shares of the company were exchanged, compared to its average volume of 3,306,450. The company has a market cap of $40.20 billion, a price-to-earnings ratio of 19.80, a PEG ratio of 3.36 and a beta of 0.75. The company has a 50-day moving average of $39.48 and a 200-day moving average of $37.83. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.96 and a quick ratio of 0.88. TC Energy Co. has a one year low of $32.51 and a one year high of $42.76.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its earnings results on Friday, February 16th. The pipeline company reported $0.99 earnings per share for the quarter, topping analysts' consensus estimates of $0.79 by $0.20. TC Energy had a net margin of 18.25% and a return on equity of 18.60%. The company had revenue of $3.11 billion for the quarter, compared to analyst estimates of $2.93 billion. Analysts anticipate that TC Energy Co. will post 2.99 earnings per share for the current year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued a $0.714 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 7.10%. The ex-dividend date of this dividend is Wednesday, March 27th. This is a positive change from TC Energy's previous quarterly dividend of $0.67. TC Energy's dividend payout ratio is currently 140.39%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Stifel Nicolaus assumed coverage on shares of TC Energy in a research report on Thursday, January 18th. They set a "buy" rating on the stock. Jefferies Financial Group assumed coverage on shares of TC Energy in a research report on Tuesday, February 27th. They set a "hold" rating on the stock. The Goldman Sachs Group upped their price target on shares of TC Energy from $29.00 to $32.00 and gave the company a "sell" rating in a research report on Friday, January 26th. TheStreet raised shares of TC Energy from a "c+" rating to a "b-" rating in a research report on Wednesday, March 20th. Finally, Barclays upped their price target on shares of TC Energy from $53.00 to $55.00 and gave the company an "equal weight" rating in a research report on Monday, January 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $48.83.

TC Energy 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.