Alyeska Investment Group L.P. Acquires Shares of 349,878 TC Energy Corporation $TRP

Key Points

• Alyeska Investment Group L.P. has acquired a new position in TC Energy Corporation, purchasing 349,878 shares valued at approximately $16.5 million.
• TC Energy recently announced a quarterly dividend increase to $0.6148 per share, with a yield of 4.8%, reflecting a boost from the previous dividend.
• Wall Street analysts have a consensus rating of "Moderate Buy" for TC Energy, with a target price of $62.00 per share, amid mixed ratings from various analysts.

Alyeska Investment Group L.P. acquired a new position in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 349,878 shares of the pipeline company's stock, valued at approximately $16,518,000.

Other large investors have also recently modified their holdings of the company. Lowe Wealth Advisors LLC bought a new position in shares of TC Energy during the 1st quarter worth approximately $30,000. TruNorth Capital Management LLC bought a new position in shares of TC Energy during the 1st quarter worth approximately $45,000. Truvestments Capital LLC bought a new position in shares of TC Energy during the 1st quarter worth approximately $45,000. Golden State Wealth Management LLC grew its position in TC Energy by 222.2% during the 1st quarter. Golden State Wealth Management LLC now owns 1,076 shares of the pipeline company's stock worth $51,000 after purchasing an additional 742 shares during the last quarter. Finally, SBI Securities Co. Ltd. increased its stake in TC Energy by 75.3% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,166 shares of the pipeline company's stock valued at $55,000 after purchasing an additional 501 shares in the last quarter. Institutional investors own 83.13% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on TRP shares. US Capital Advisors lowered shares of TC Energy from a "moderate buy" rating to a "hold" rating in a research note on Thursday, August 21st. Barclays restated an "overweight" rating on shares of TC Energy in a research note on Thursday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $62.00.

TC Energy Stock Performance

Shares of TC Energy stock traded up $0.16 during trading on Wednesday, hitting $51.97. 487,209 shares of the company's stock were exchanged, compared to its average volume of 2,271,865. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.54 and a current ratio of 0.61. The business has a 50-day simple moving average of $49.44 and a 200-day simple moving average of $48.72. TC Energy Corporation has a 52-week low of $40.76 and a 52-week high of $52.39. The stock has a market capitalization of $54.05 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 4.97 and a beta of 0.77.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its quarterly earnings results on Thursday, July 31st. The pipeline company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.56 by $0.03. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $2.56 billion. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. During the same period in the prior year, the company earned $0.79 earnings per share. On average, research analysts forecast that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 29th will be issued a dividend of $0.6148 per share. This represents a $2.46 dividend on an annualized basis and a yield of 4.7%. This is a boost from TC Energy's previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Monday, September 29th. TC Energy's payout ratio is currently 83.62%.

About TC Energy

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.