Partners Group Holding AG Reduces Stock Position in TC Energy Corporation $TRP

Partners Group Holding AG reduced its holdings in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 30.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 517,576 shares of the pipeline company’s stock after selling 230,508 shares during the period. TC Energy makes up 1.2% of Partners Group Holding AG’s portfolio, making the stock its 27th largest holding. Partners Group Holding AG’s holdings in TC Energy were worth $25,219,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in TRP. Goldman Sachs Group Inc. grew its stake in shares of TC Energy by 2,565.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 16,306,187 shares of the pipeline company’s stock worth $769,815,000 after buying an additional 15,694,336 shares in the last quarter. Bank of Nova Scotia grew its stake in shares of TC Energy by 80.3% in the 1st quarter. Bank of Nova Scotia now owns 16,983,443 shares of the pipeline company’s stock worth $802,164,000 after buying an additional 7,562,887 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in shares of TC Energy by 34.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 19,808,558 shares of the pipeline company’s stock worth $935,627,000 after buying an additional 5,053,228 shares in the last quarter. Deutsche Bank AG grew its stake in shares of TC Energy by 175.1% in the 1st quarter. Deutsche Bank AG now owns 5,758,203 shares of the pipeline company’s stock worth $271,845,000 after buying an additional 3,664,862 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of TC Energy by 31.3% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,418,858 shares of the pipeline company’s stock worth $444,885,000 after buying an additional 2,242,918 shares in the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on TRP shares. Barclays reissued an “overweight” rating on shares of TC Energy in a research note on Tuesday, October 14th. Cibc World Mkts downgraded shares of TC Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. US Capital Advisors downgraded shares of TC Energy from a “moderate buy” rating to a “hold” rating in a research note on Thursday, August 21st. TD Securities reissued a “buy” rating on shares of TC Energy in a research note on Friday, October 17th. Finally, Scotiabank reissued an “outperform” rating on shares of TC Energy in a research note on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.00.

TC Energy Price Performance

TC Energy stock opened at $50.05 on Tuesday. The stock has a market cap of $52.08 billion, a price-to-earnings ratio of 17.08, a price-to-earnings-growth ratio of 4.82 and a beta of 0.75. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.61 and a quick ratio of 0.54. TC Energy Corporation has a 1 year low of $43.51 and a 1 year high of $55.37. The firm has a 50-day moving average of $52.23 and a two-hundred day moving average of $50.27.

About TC Energy

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.