Chicago Partners Investment Group LLC Acquires New Shares in TC Energy Corporation (NYSE:TRP)

Chicago Partners Investment Group LLC acquired a new stake in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,800 shares of the pipeline company's stock, valued at approximately $347,000.

Several other hedge funds have also recently bought and sold shares of TRP. Goldman Sachs Group Inc. increased its stake in TC Energy by 2,565.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 16,306,187 shares of the pipeline company's stock valued at $769,815,000 after purchasing an additional 15,694,336 shares in the last quarter. Bank of Nova Scotia increased its position in TC Energy by 80.3% during the first quarter. Bank of Nova Scotia now owns 16,983,443 shares of the pipeline company's stock worth $802,164,000 after buying an additional 7,562,887 shares in the last quarter. Blackstone Inc. increased its position in TC Energy by 83.8% during the fourth quarter. Blackstone Inc. now owns 7,637,469 shares of the pipeline company's stock worth $355,371,000 after buying an additional 3,482,874 shares in the last quarter. Balyasny Asset Management L.P. increased its position in TC Energy by 309.4% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,955,983 shares of the pipeline company's stock worth $91,059,000 after buying an additional 1,478,167 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its position in TC Energy by 9.5% during the fourth quarter. Canada Pension Plan Investment Board now owns 14,755,330 shares of the pipeline company's stock worth $686,763,000 after buying an additional 1,280,000 shares in the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Price Performance

TRP stock opened at $49.40 on Monday. TC Energy Corporation has a 52-week low of $39.26 and a 52-week high of $51.99. The stock's fifty day simple moving average is $48.46 and its 200-day simple moving average is $47.95. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.54. The stock has a market capitalization of $51.37 billion, a price-to-earnings ratio of 16.86, a price-to-earnings-growth ratio of 4.74 and a beta of 0.75.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its quarterly earnings data on Thursday, July 31st. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.03. TC Energy had a return on equity of 11.22% and a net margin of 28.98%. The business had revenue of $1.82 billion for the quarter, compared to analysts' expectations of $2.56 billion. During the same quarter last year, the firm earned $0.79 earnings per share. Equities research analysts expect that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be issued a dividend of $0.6148 per share. This represents a $2.46 annualized dividend and a dividend yield of 5.0%. This is a positive change from TC Energy's previous quarterly dividend of $0.61. The ex-dividend date is Monday, September 29th. TC Energy's payout ratio is 85.32%.

Wall Street Analysts Forecast Growth

TRP has been the subject of several recent research reports. CIBC raised TC Energy from a "neutral" rating to a "sector outperform" rating in a research report on Friday, May 2nd. Cibc World Mkts raised TC Energy from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, TC Energy currently has a consensus rating of "Moderate Buy" and an average price target of $62.00.

TC Energy Company 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.

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