Pictet Asset Management Holding SA Decreases Stock Position in TC Energy Co. (NYSE:TRP)

Pictet Asset Management Holding SA lowered its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 1.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 388,226 shares of the pipeline company’s stock after selling 6,045 shares during the period. Pictet Asset Management Holding SA’s holdings in TC Energy were worth $18,083,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. NTV Asset Management LLC lifted its holdings in TC Energy by 4.0% in the 4th quarter. NTV Asset Management LLC now owns 6,189 shares of the pipeline company’s stock worth $288,000 after buying an additional 239 shares in the last quarter. Captrust Financial Advisors lifted its stake in shares of TC Energy by 1.3% in the third quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock worth $871,000 after acquiring an additional 242 shares in the last quarter. Lee Financial Co lifted its stake in shares of TC Energy by 3.1% in the fourth quarter. Lee Financial Co now owns 8,185 shares of the pipeline company’s stock worth $381,000 after acquiring an additional 246 shares in the last quarter. IFP Advisors Inc boosted its holdings in TC Energy by 7.0% in the fourth quarter. IFP Advisors Inc now owns 3,809 shares of the pipeline company’s stock valued at $177,000 after purchasing an additional 249 shares during the last quarter. Finally, Global Retirement Partners LLC grew its stake in TC Energy by 7.2% during the 4th quarter. Global Retirement Partners LLC now owns 4,099 shares of the pipeline company’s stock valued at $191,000 after purchasing an additional 274 shares in the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TRP has been the subject of several research analyst reports. Royal Bank of Canada raised their price target 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. Veritas raised shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. StockNews.com cut shares of TC Energy from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. TD Securities initiated coverage on TC Energy in a report on Wednesday, January 15th. They issued a “buy” rating for the company. Finally, US Capital Advisors raised TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $62.00.

TC Energy Stock Performance

Shares of NYSE TRP opened at $47.83 on Wednesday. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56. The firm’s 50-day moving average price is $46.54 and its two-hundred day moving average price is $46.97. TC Energy Co. has a 52-week low of $34.95 and a 52-week high of $50.37. The stock has a market capitalization of $49.71 billion, a P/E ratio of 14.76, a P/E/G ratio of 4.34 and a beta of 0.83.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.54. The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.42 billion. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. During the same quarter last year, the business posted $1.35 EPS. As a group, sell-side analysts forecast that TC Energy Co. will post 2.63 earnings per share for the current 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 given a dividend of $0.85 per share. The ex-dividend date is Monday, March 31st. This represents a $3.40 annualized dividend and a dividend yield of 7.11%. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s dividend payout ratio 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.