Alyeska Investment Group L.P. Invests $15.14 Million in TC Energy Corporation $TRP

Key Points

• Alyeska Investment Group acquired 228,370 shares of TC Energy worth approximately $15.14 million, while institutional investors collectively own 83.13% of the company.
• TC Energy beat quarterly earnings expectations, reporting $0.68 in EPS versus the $0.61 consensus and $2.80 billion in revenue against the $2.76 billion estimate.
• The company declared a quarterly dividend of $0.8775, equivalent to an annualized $3.51 payout and a 5.6% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $89.

Alyeska Investment Group L.P. acquired a new position in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 228,370 shares of the pipeline company's stock, valued at approximately $15,139,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Groupe la Francaise raised its stake in shares of TC Energy by 2.1% in the 1st 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 period. Wealthstar Advisors LLC boosted its position in shares of TC Energy by 1.5% during the first quarter. Wealthstar Advisors LLC now owns 11,465 shares of the pipeline company's stock worth $718,000 after buying an additional 165 shares during the period. Nations Financial Group Inc. IA ADV grew its holdings in shares of TC Energy by 5.7% during the first quarter. Nations Financial Group Inc. IA ADV now owns 3,911 shares of the pipeline company's stock worth $245,000 after buying an additional 210 shares in the last quarter. Arax Advisory Partners grew its holdings in shares of TC Energy by 7.9% during the fourth quarter. Arax Advisory Partners now owns 3,029 shares of the pipeline company's stock worth $167,000 after buying an additional 221 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in TC Energy by 5.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 4,223 shares of the pipeline company's stock valued at $232,000 after buying an additional 232 shares during the last quarter. 83.13% of the stock is owned by institutional investors.

TC Energy Stock Up 1.1%

NYSE:TRP opened at $62.57 on Tuesday. TC Energy Corporation has a twelve month low of $49.27 and a twelve month high of $71.47. The firm has a market capitalization of $65.19 billion, a price-to-earnings ratio of 25.96 and a beta of 0.66. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.64. The stock's 50 day moving average price is $66.21 and its two-hundred day moving average price is $65.39.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its quarterly earnings data on Thursday, July 30th. The pipeline company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.61 by $0.07. The company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.76 billion. TC Energy had a return on equity of 11.10% and a net margin of 22.91%.During the same quarter in the prior year, the firm posted $0.82 EPS. Equities research analysts expect that TC Energy Corporation will post 2.78 earnings per share for the current fiscal year.

TC Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Tuesday, September 29th will be given a $0.8775 dividend. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date of this dividend is Tuesday, September 29th. TC Energy's dividend payout ratio (DPR) is 102.49%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Scotiabank restated an "outperform" rating on shares of TC Energy in a research note on Tuesday, July 21st. Royal Bank Of Canada lifted their price objective on shares of TC Energy from $104.00 to $106.00 and gave the company an "outperform" rating in a report on Friday, July 31st. Barclays reissued an "overweight" rating on shares of TC Energy in a research report on Thursday, July 16th. TD Securities reaffirmed a "hold" rating on shares of TC Energy in a research report on Thursday, July 16th. Finally, Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of TC Energy in a research note on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $89.00.

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.

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