J. Safra Sarasin Holding AG Takes $3 Million Position 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 acquired a new stake in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 63,469 shares of the pipeline company's stock, valued at approximately $2,997,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Bank of Nova Scotia raised its stake 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 valued at $802,164,000 after buying an additional 7,562,887 shares in the last quarter. Alberta Investment Management Corp increased its position in TC Energy by 1.1% in the first quarter. Alberta Investment Management Corp now owns 2,899,029 shares of the pipeline company's stock worth $136,889,000 after buying an additional 30,797 shares during the period. Wealthquest Corp acquired a new position in shares of TC Energy during the first quarter valued at $272,000. EFG Asset Management Americas Corp. boosted its stake in TC Energy by 4.0% during the 1st quarter. EFG Asset Management Americas Corp. now owns 25,686 shares of the pipeline company's stock valued at $1,213,000 after purchasing an additional 998 shares during the period. Finally, Natixis Advisors LLC grew its holdings in TC Energy by 0.7% in the 1st quarter. Natixis Advisors LLC now owns 69,976 shares of the pipeline company's stock worth $3,304,000 after buying an additional 456 shares in the last quarter. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

TC Energy Stock Down 0.6%

Shares of TRP stock traded down $0.29 on Thursday, reaching $49.49. 269,063 shares of the company's stock traded hands, compared to its average volume of 2,389,960. The business's 50 day moving average price is $48.48 and its two-hundred day moving average price is $47.91. The company has a market capitalization of $51.47 billion, a P/E ratio of 16.89, a price-to-earnings-growth ratio of 4.71 and a beta of 0.75. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.54 and a current ratio of 0.61. TC Energy Corporation has a 12-month low of $39.23 and a 12-month high of $51.99.

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, topping the consensus estimate of $0.56 by $0.03. The business had revenue of $1.82 billion during the quarter, compared to analysts' expectations 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 last year, the company posted $0.79 earnings per share. On average, equities analysts forecast that TC Energy Corporation will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 29th will be given a dividend of $0.6148 per share. The ex-dividend date of this dividend is Monday, September 29th. This is a positive change from TC Energy's previous quarterly dividend of $0.61. This represents a $2.46 dividend on an annualized basis and a yield of 5.0%. TC Energy's payout ratio is 83.62%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on TRP shares. Cibc World Mkts upgraded shares of TC Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, May 2nd. CIBC upgraded shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $62.00.

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.