J. Safra Sarasin Holding AG Invests $3 Million in TC Energy Corporation (NYSE:TRP)

Key Points

• J. Safra Sarasin Holding AG acquired 63,469 shares of TC Energy Corporation, investing approximately $3 million in the first quarter, indicating growing institutional interest in the company.
• TC Energy has declared a quarterly dividend of $0.6148, a slight increase from the previous dividend, reflecting the company's commitment to returning value to shareholders.
• Analysts have upgraded TC Energy's stock rating, with a consensus rating of "Moderate Buy" and an average target price of $62.00, suggesting positive expectations for future stock performance.

J. Safra Sarasin Holding AG bought a new stake in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 63,469 shares of the pipeline company's stock, valued at approximately $2,997,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Thrivent Financial for Lutherans lifted its position in TC Energy by 10.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 5,468 shares of the pipeline company's stock valued at $269,000 after purchasing an additional 504 shares during the period. Sei Investments Co. raised its stake in shares of TC Energy by 8.7% during the 4th quarter. Sei Investments Co. now owns 45,239 shares of the pipeline company's stock worth $2,105,000 after buying an additional 3,636 shares in the last quarter. Orion Portfolio Solutions LLC lifted its holdings in shares of TC Energy by 6.9% in the 4th quarter. Orion Portfolio Solutions LLC now owns 7,764 shares of the pipeline company's stock valued at $361,000 after buying an additional 502 shares during the period. Geode Capital Management LLC boosted its stake in shares of TC Energy by 30.6% in the fourth quarter. Geode Capital Management LLC now owns 6,156,772 shares of the pipeline company's stock valued at $290,757,000 after buying an additional 1,444,112 shares in the last quarter. Finally, Trexquant Investment LP purchased a new stake in shares of TC Energy in the fourth quarter valued at approximately $3,156,000. Hedge funds and other institutional investors own 83.13% of the company's stock.

TC Energy Stock Performance

NYSE TRP opened at $48.39 on Friday. The business has a 50 day moving average price of $48.54 and a 200 day moving average price of $47.87. The company has a market capitalization of $50.32 billion, a P/E ratio of 16.52, a PEG ratio of 4.69 and a beta of 0.75. TC Energy Corporation has a 1-year low of $37.41 and a 1-year high of $51.99. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.70 and a quick ratio of 0.63.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its earnings results on Thursday, July 31st. The pipeline company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.03. TC Energy had a return on equity of 11.10% and a net margin of 28.98%. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the prior year, the company earned $0.79 earnings per share. Sell-side analysts expect that TC Energy Corporation will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be given a $0.6148 dividend. This is a boost from TC Energy's previous quarterly dividend of $0.61. This represents a $2.46 annualized dividend and a dividend yield of 5.1%. The ex-dividend date is Monday, September 29th. TC Energy's dividend payout ratio (DPR) is currently 82.51%.

Wall Street Analyst Weigh In

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.