Partners Group Holding AG Increases Stock Holdings in TC Energy Corporation $TRP

Key Points

• Partners Group Holding AG increased its stake in TC Energy Corporation by 22.9%, owning approximately 748,084 shares at a value of $35.77 million.
• TC Energy declared a quarterly dividend of $0.6148 per share, representing an annualized yield of 4.8%, which marks an increase from the previous quarter.
• Analysts have upgraded TC Energy's ratings, with a current consensus rating of "Moderate Buy" and a price target of $62.00.

Partners Group Holding AG boosted its stake in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 22.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 748,084 shares of the pipeline company's stock after acquiring an additional 139,633 shares during the quarter. TC Energy comprises 1.5% of Partners Group Holding AG's investment portfolio, making the stock its 22nd biggest holding. Partners Group Holding AG owned 0.07% of TC Energy worth $35,767,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. American Century Companies Inc. lifted its holdings in shares of TC Energy by 1.6% in the 1st quarter. American Century Companies Inc. now owns 250,870 shares of the pipeline company's stock valued at $11,847,000 after buying an additional 4,015 shares during the period. Fox Run Management L.L.C. acquired a new stake in shares of TC Energy in the 1st quarter valued at approximately $1,884,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of TC Energy in the 1st quarter valued at approximately $273,000. Gulf International Bank UK Ltd lifted its holdings in shares of TC Energy by 2,638.4% in the 1st quarter. Gulf International Bank UK Ltd now owns 59,478 shares of the pipeline company's stock valued at $2,808,000 after buying an additional 57,306 shares during the period. Finally, Prudential PLC lifted its holdings in shares of TC Energy by 5.2% in the 1st quarter. Prudential PLC now owns 6,536 shares of the pipeline company's stock valued at $309,000 after buying an additional 326 shares during the period. 83.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on TRP. Barclays reissued an "overweight" rating on shares of TC Energy in a report on Thursday, August 14th. Cibc World Mkts raised TC Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, May 2nd. Finally, CIBC raised TC Energy from a "neutral" rating to a "sector outperform" rating in a report on Friday, May 2nd. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, TC Energy has an average rating of "Moderate Buy" and a consensus price target of $62.00.

TC Energy Price Performance

Shares of TRP traded down $0.2540 during trading hours on Thursday, reaching $51.6160. 467,118 shares of the company traded hands, compared to its average volume of 2,329,819. 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 $53.68 billion, a PE ratio of 17.61, a price-to-earnings-growth ratio of 4.90 and a beta of 0.75. TC Energy Corporation has a fifty-two week low of $40.13 and a fifty-two week high of $52.10. The stock has a fifty day simple moving average of $48.50 and a 200 day simple moving average of $48.21.

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 EPS for the quarter, beating analysts' consensus estimates of $0.56 by $0.03. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $2.56 billion. TC Energy had a return on equity of 11.22% and a net margin of 28.98%.During the same quarter last year, the company earned $0.79 earnings per share. As a group, research analysts predict that TC Energy Corporation will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 29th will be paid a dividend of $0.6148 per share. The ex-dividend date of this dividend is Monday, September 29th. This is an increase from TC Energy's previous quarterly dividend of $0.61. This represents a $2.46 dividend on an annualized basis and a dividend yield of 4.8%. TC Energy's dividend payout ratio is 85.32%.

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.