Pictet Asset Management Holding SA Lowers Position in TC Energy Corporation $TRP

Pictet Asset Management Holding SA lowered its position in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 3.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 389,807 shares of the pipeline company’s stock after selling 12,436 shares during the period. Pictet Asset Management Holding SA’s holdings in TC Energy were worth $24,332,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in TRP. Vanguard Group Inc. grew its holdings in TC Energy by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 47,801,695 shares of the pipeline company’s stock worth $2,632,200,000 after purchasing an additional 980,221 shares during the period. Capital Research Global Investors boosted its position in shares of TC Energy by 2.5% in the 3rd quarter. Capital Research Global Investors now owns 41,977,582 shares of the pipeline company’s stock worth $2,282,469,000 after purchasing an additional 1,041,864 shares in the last quarter. FIL Ltd grew its stake in shares of TC Energy by 3.9% in the 4th quarter. FIL Ltd now owns 28,305,789 shares of the pipeline company’s stock worth $1,558,669,000 after buying an additional 1,052,166 shares during the last quarter. TD Asset Management Inc increased its position in TC Energy by 6.3% during the 4th quarter. TD Asset Management Inc now owns 20,868,772 shares of the pipeline company’s stock valued at $1,150,656,000 after buying an additional 1,244,525 shares in the last quarter. Finally, GQG Partners LLC increased its position in TC Energy by 586.5% during the 4th quarter. GQG Partners LLC now owns 16,154,469 shares of the pipeline company’s stock valued at $890,711,000 after buying an additional 13,801,371 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors.

TC Energy Price Performance

NYSE TRP opened at $65.58 on Thursday. The company has a 50-day moving average price of $67.23 and a 200-day moving average price of $62.38. TC Energy Corporation has a 52 week low of $46.29 and a 52 week high of $71.47. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 1.67. The firm has a market capitalization of $68.33 billion, a P/E ratio of 28.46 and a beta of 0.66.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Friday, May 1st. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.02. TC Energy had a net margin of 22.22% and a return on equity of 10.74%. The company had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same period in the previous year, the business posted $0.95 earnings per share. Equities research analysts anticipate that TC Energy Corporation will post 2.75 earnings per share for the current year.

TC Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.8775 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.4%. TC Energy’s payout ratio is presently 110.43%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of TC Energy in a report on Tuesday, May 26th. TD Securities restated a “hold” rating on shares of TC Energy in a research report on Monday, May 4th. BMO Capital Markets reaffirmed an “outperform” rating on shares of TC Energy in a research report on Monday, May 4th. Weiss Ratings lowered shares of TC Energy from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Finally, Barclays reissued an “overweight” rating on shares of TC Energy in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, TC Energy has an average rating of “Moderate Buy” and a consensus target price of $78.50.

TC Energy Profile

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.