Partners Group Holding AG Sells 94,031 Shares of TC Energy Corporation $TRP

Partners Group Holding AG cut its holdings in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 18.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 423,545 shares of the pipeline company’s stock after selling 94,031 shares during the quarter. TC Energy comprises 1.3% of Partners Group Holding AG’s investment portfolio, making the stock its 27th largest holding. Partners Group Holding AG’s holdings in TC Energy were worth $22,969,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Westside Investment Management Inc. raised its stake in TC Energy by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 594 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 297 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of TC Energy by 237.4% in the third quarter. Smartleaf Asset Management LLC now owns 803 shares of the pipeline company’s stock valued at $43,000 after buying an additional 565 shares during the period. Sagard Holdings Management Inc. acquired a new stake in TC Energy during the second quarter worth about $46,000. SouthState Corp increased its stake in TC Energy by 2,757.1% during the second quarter. SouthState Corp now owns 1,000 shares of the pipeline company’s stock valued at $49,000 after acquiring an additional 965 shares during the period. Finally, City Holding Co. acquired a new position in TC Energy in the 3rd quarter valued at approximately $72,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TRP. Royal Bank Of Canada lifted their price objective on TC Energy from $84.00 to $92.00 and gave the stock an “outperform” rating in a report on Tuesday, February 17th. The Goldman Sachs Group raised their target price on TC Energy from $48.00 to $53.00 and gave the stock a “sell” rating in a research report on Wednesday, February 18th. National Bank Financial lowered shares of TC Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Barclays reaffirmed an “overweight” rating on shares of TC Energy in a report on Friday, February 20th. Finally, TD Securities lowered shares of TC Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Seven equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, TC Energy presently has an average rating of “Hold” and a consensus target price of $72.50.

TC Energy Stock Down 0.3%

TRP opened at $63.22 on Thursday. The firm has a market cap of $65.83 billion, a price-to-earnings ratio of 27.20 and a beta of 0.73. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.56 and a current ratio of 0.63. The firm’s 50-day simple moving average is $57.51 and its 200-day simple moving average is $54.32. TC Energy Corporation has a twelve month low of $43.59 and a twelve month high of $63.94.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Friday, February 13th. The pipeline company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.05. TC Energy had a net margin of 23.04% and a return on equity of 10.52%. The firm had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same period in the prior year, the firm earned $1.05 earnings per share. Equities research analysts anticipate that TC Energy Corporation will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.8775 per share. The ex-dividend date is Tuesday, March 31st. This is a boost from TC Energy’s previous quarterly dividend of $0.85. This represents a $3.51 annualized dividend and a dividend yield of 5.6%. TC Energy’s dividend payout ratio (DPR) is currently 106.90%.

TC Energy Company Profile

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.