Partners Group Holding AG Purchases 173,250 Shares of TC Energy Co. (NYSE:TRP)

Partners Group Holding AG raised its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 25.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 845,335 shares of the pipeline company’s stock after purchasing an additional 173,250 shares during the period. TC Energy makes up 2.7% of Partners Group Holding AG’s portfolio, making the stock its 16th biggest position. Partners Group Holding AG’s holdings in TC Energy were worth $40,196,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in TRP. Canada Pension Plan Investment Board boosted its position in shares of 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 valued at $737,609,000 after acquiring an additional 10,065,000 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in TC Energy by 156.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company’s stock worth $321,778,000 after purchasing an additional 4,126,801 shares during the period. Merewether Investment Management LP acquired a new stake in TC Energy during the second quarter valued at approximately $112,618,000. Cardinal Capital Management Inc. grew its stake in shares of TC Energy by 101.4% in 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 purchasing an additional 2,551,926 shares during the period. Finally, Marshall Wace LLP raised its holdings in shares of TC Energy by 841.1% in the 2nd quarter. Marshall Wace LLP now owns 2,040,863 shares of the pipeline company’s stock worth $77,349,000 after buying an additional 1,824,008 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Price Performance

Shares of TRP stock opened at $49.07 on Tuesday. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78. The firm has a market capitalization of $50.93 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 4.19 and a beta of 0.81. The firm’s 50 day moving average is $47.27 and its 200-day moving average is $43.34. TC Energy Co. has a 1 year low of $31.83 and a 1 year high of $50.37.

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 company had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.83 billion. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. Sell-side analysts forecast that TC Energy Co. will post 2.98 EPS for the current fiscal year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.822 per share. This is a boost from TC Energy’s previous quarterly dividend of $0.70. This represents a $3.29 annualized dividend and a yield of 6.70%. The ex-dividend date of this dividend is Tuesday, December 31st. TC Energy’s payout ratio is currently 78.95%.

Analysts Set New Price Targets

Several analysts recently commented on TRP shares. 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. JPMorgan Chase & Co. raised TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. BMO Capital Markets boosted their price target on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research report on Wednesday, November 20th. Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. Finally, Veritas raised TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $55.67.

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.