TC Energy Co. (NYSE:TRP) Stake Increased by Partners Group Holding AG

Partners Group Holding AG increased its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 25.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 845,335 shares of the pipeline company’s stock after buying an additional 173,250 shares during the quarter. TC Energy accounts for approximately 2.7% of Partners Group Holding AG’s holdings, making the stock its 16th biggest position. Partners Group Holding AG owned approximately 0.08% of TC Energy worth $40,196,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Canada Pension Plan Investment Board boosted its position in TC Energy by 107.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 19,462,155 shares of the pipeline company’s stock worth $737,609,000 after acquiring an additional 10,065,000 shares during the period. Legal & General Group Plc grew its position in TC Energy by 4.1% during the second quarter. Legal & General Group Plc now owns 11,892,999 shares of the pipeline company’s stock valued at $450,749,000 after purchasing an additional 467,497 shares in the last quarter. CIBC Asset Management Inc increased its stake in TC Energy by 2.6% in the 2nd quarter. CIBC Asset Management Inc now owns 8,515,086 shares of the pipeline company’s stock valued at $322,584,000 after buying an additional 214,689 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in TC Energy by 156.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company’s stock worth $321,778,000 after buying an additional 4,126,801 shares in the last quarter. Finally, Cardinal Capital Management Inc. boosted its stake in shares of TC Energy by 101.4% during the 2nd quarter. Cardinal Capital Management Inc. now owns 5,068,758 shares of the pipeline company’s stock valued at $192,024,000 after buying an additional 2,551,926 shares during the period. 83.13% of the stock is owned by institutional investors and hedge funds.

TC Energy Stock Down 1.6 %

Shares of TRP stock opened at $49.07 on Tuesday. TC Energy Co. has a 12 month low of $31.83 and a 12 month high of $50.37. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78. The firm has a market cap of $50.93 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 4.19 and a beta of 0.81. The stock has a 50 day moving average of $47.27 and a 200-day moving average of $43.34.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.70 by $0.06. The firm had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. On average, equities analysts predict that TC Energy Co. will post 2.98 EPS for the current year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.822 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.70. This represents a $3.29 dividend on an annualized basis and a yield of 6.70%. TC Energy’s dividend payout ratio (DPR) is 78.95%.

Analysts Set New Price Targets

TRP has been the topic of a number of recent research reports. BMO Capital Markets boosted their target price on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. The Goldman Sachs Group boosted their price target on TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research note on Monday, October 21st. StockNews.com started coverage on shares of TC Energy in a research report on Tuesday. They set a “hold” rating on the stock. Morgan Stanley raised shares of TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. Finally, UBS Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $55.67.

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.