Partners Group Holding AG Increases Stock Position 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 increased its stake in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 22.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 748,084 shares of the pipeline company's stock after acquiring an additional 139,633 shares during the period. TC Energy makes up about 1.5% of Partners Group Holding AG's holdings, making the stock its 22nd largest holding. Partners Group Holding AG owned about 0.07% of TC Energy worth $35,767,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. BROOKFIELD Corp ON lifted its position in shares of TC Energy by 31.6% during the 4th quarter. BROOKFIELD Corp ON now owns 1,890,168 shares of the pipeline company's stock worth $87,950,000 after purchasing an additional 454,011 shares during the last quarter. Bank of New York Mellon Corp raised its stake in TC Energy by 1.1% in the first quarter. Bank of New York Mellon Corp now owns 915,241 shares of the pipeline company's stock valued at $43,209,000 after buying an additional 10,227 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in TC Energy by 77.7% during the 1st quarter. Farther Finance Advisors LLC now owns 2,299 shares of the pipeline company's stock worth $110,000 after buying an additional 1,005 shares during the last quarter. Wealthstar Advisors LLC acquired a new position in shares of TC Energy during the 1st quarter worth about $432,000. Finally, Golden State Wealth Management LLC lifted its stake in TC Energy by 222.2% during the first 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. 83.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

TC Energy Stock Performance

Shares of NYSE:TRP traded up $0.6380 during midday trading on Wednesday, hitting $51.8180. The stock had a trading volume of 1,461,423 shares, compared to its average volume of 2,336,201. TC Energy Corporation has a 1 year low of $40.00 and a 1 year high of $52.10. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.54. The stock has a 50 day moving average price of $48.45 and a two-hundred day moving average price of $48.18. The company has a market capitalization of $53.89 billion, a PE ratio of 17.69, a P/E/G ratio of 4.83 and a beta of 0.75.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced 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. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter last year, the firm earned $0.79 earnings per share. As a group, equities analysts predict that TC Energy Corporation will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

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

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.