TC Energy Co. (NYSE:TRP) Position Cut by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA reduced its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 1.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 388,226 shares of the pipeline company’s stock after selling 6,045 shares during the quarter. Pictet Asset Management Holding SA’s holdings in TC Energy were worth $18,083,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Addenda Capital Inc. increased its holdings in shares of TC Energy by 4.4% during the fourth quarter. Addenda Capital Inc. now owns 1,034,497 shares of the pipeline company’s stock valued at $48,135,000 after purchasing an additional 43,639 shares during the period. Captrust Financial Advisors lifted its holdings in 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 purchasing an additional 242 shares during the period. Ritholtz Wealth Management grew its position in TC Energy by 44.8% in the 4th quarter. Ritholtz Wealth Management now owns 23,957 shares of the pipeline company’s stock valued at $1,115,000 after buying an additional 7,412 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in TC Energy during the 3rd quarter valued at about $3,771,000. Finally, Exchange Traded Concepts LLC raised its position in shares of TC Energy by 7.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 1,034,698 shares of the pipeline company’s stock worth $48,144,000 after buying an additional 71,955 shares in the last quarter. Institutional investors own 83.13% of the company’s stock.

TC Energy Stock Performance

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 has a market cap of $49.71 billion, a PE ratio of 14.76, a P/E/G ratio of 4.34 and a beta of 0.83. The business has a fifty day simple moving average of $46.54 and a 200-day simple moving average of $46.97. TC Energy Co. has a fifty-two week low of $34.95 and a fifty-two week high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.54. The business had revenue of $2.56 billion during the quarter, compared to analyst estimates 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 company posted $1.35 EPS. As a group, equities analysts predict that TC Energy Co. will post 2.63 EPS 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 7.11%. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s payout ratio is currently 72.53%.

Analyst Ratings Changes

TRP has been the subject of several recent analyst reports. Royal Bank of Canada increased their price objective on shares of TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. Veritas raised TC Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. StockNews.com cut TC Energy from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Finally, TD Securities started coverage on shares of TC Energy in a research report on Wednesday, January 15th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $62.00.

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.