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

Pictet Asset Management Holding SA cut its stake in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 1.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent SEC filing.

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

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TC Energy Price Performance

NYSE TRP traded up $0.03 during trading hours on Thursday, reaching $48.75. The company's stock had a trading volume of 4,826,194 shares, compared to its average volume of 2,629,354. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23. TC Energy Co. has a 1-year low of $34.95 and a 1-year high of $50.37. The company's 50-day moving average is $46.57 and its two-hundred day moving average is $46.98. The firm has a market capitalization of $50.66 billion, a price-to-earnings ratio of 15.05, a P/E/G ratio of 4.34 and a beta of 0.83.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.54. The firm had revenue of $2.56 billion for 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 firm posted $1.35 EPS. On average, equities analysts predict that TC Energy Co. will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a $0.85 dividend. This is a positive change from TC Energy's previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.40 annualized dividend and a dividend yield of 6.97%. TC Energy's dividend payout ratio (DPR) is 72.53%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on TRP shares. StockNews.com lowered shares of TC Energy from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. TD Securities started coverage on TC Energy in a research report on Wednesday, January 15th. They set a "buy" rating on the stock. Veritas raised TC Energy from a "strong sell" rating to a "strong-buy" rating in a report on Tuesday, February 18th. US Capital Advisors raised TC Energy from a "hold" rating to a "moderate buy" rating in a report on Monday, February 3rd. Finally, Royal Bank of Canada lifted their price target on TC Energy from $71.00 to $74.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. 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 MarketBeat, TC Energy has a consensus rating of "Moderate Buy" and an average price target of $62.00.

TC Energy Company 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.