TC Energy Co. (NYSE:TRP) Shares Sold by Partners Group Holding AG

Partners Group Holding AG lessened its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 28.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 608,451 shares of the pipeline company’s stock after selling 236,884 shares during the period. TC Energy makes up 1.0% of Partners Group Holding AG’s holdings, making the stock its 23rd biggest position. Partners Group Holding AG owned approximately 0.06% of TC Energy worth $28,385,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Kayne Anderson Capital Advisors LP boosted its holdings in TC Energy by 51.4% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 4,842,255 shares of the pipeline company’s stock worth $225,310,000 after buying an additional 1,644,115 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of TC Energy in the fourth quarter worth about $75,464,000. Zurich Insurance Group Ltd FI acquired a new stake in shares of TC Energy during the 3rd quarter valued at about $73,162,000. Merewether Investment Management LP grew its position in shares of TC Energy by 37.9% during the 3rd quarter. Merewether Investment Management LP now owns 4,097,600 shares of the pipeline company’s stock valued at $194,776,000 after acquiring an additional 1,127,000 shares during the period. Finally, Vanguard Group Inc. raised its holdings in TC Energy by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 43,687,141 shares of the pipeline company’s stock worth $2,035,952,000 after purchasing an additional 734,678 shares during the period. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Veritas upgraded TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. Royal Bank of Canada upped their price objective on shares of TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. StockNews.com lowered shares of TC Energy from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. TD Securities assumed coverage on shares of TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Finally, US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $62.00.

TC Energy Price Performance

TRP stock opened at $48.45 on Friday. TC Energy Co. has a 1 year low of $34.95 and a 1 year high of $50.37. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23. The firm has a market capitalization of $50.34 billion, a PE ratio of 14.95, a price-to-earnings-growth ratio of 4.34 and a beta of 0.83. The business has a 50 day simple moving average of $46.33 and a 200-day simple moving average of $46.87.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.54. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. The business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.42 billion. During the same period last year, the company earned $1.35 EPS. Equities research analysts anticipate that TC Energy Co. will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.85 per share. The ex-dividend date is Monday, March 31st. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.02%. This is an increase from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s dividend payout ratio (DPR) is currently 72.53%.

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.