Pictet Asset Management Holding SA trimmed its stake in shares of TC Energy Corporation (NYSE:TRP – Free Report) (TSE:TRP) by 2.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 385,031 shares of the pipeline company’s stock after selling 11,140 shares during the quarter. Pictet Asset Management Holding SA’s holdings in TC Energy were worth $22,344,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the stock. Trust Co. of Vermont bought a new position in TC Energy in the 2nd quarter worth about $33,000. Halbert Hargrove Global Advisors LLC bought a new stake in shares of TC Energy during the third quarter valued at about $35,000. Aberdeen Wealth Management LLC bought a new stake in shares of TC Energy during the second quarter valued at about $51,000. Provenance Wealth Advisors LLC bought a new stake in shares of TC Energy during the third quarter valued at about $48,000. Finally, Transamerica Financial Advisors LLC purchased a new stake in shares of TC Energy in the second quarter worth about $56,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.
Analyst Upgrades and Downgrades
TRP has been the subject of a number of analyst reports. TD Securities restated a “buy” rating on shares of TC Energy in a research report on Friday, October 16th. Wall Street Zen lowered shares of TC Energy from a “hold” rating to a “sell” rating in a report on Saturday, November 7th. Royal Bank Of Canada reaffirmed a “moderate buy” rating and set a $106.00 target price on shares of TC Energy in a report on Friday, September 11th. BMO Capital Markets reiterated an “outperform” rating and issued a $99.00 target price on shares of TC Energy in a research note on Friday, July 31st. Finally, Raymond James Financial reissued a “market perform” rating on shares of TC Energy in a report on Wednesday, September 16th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.75.
Check Out Our Latest Stock Report on TC Energy
TC Energy Price Performance
Shares of NYSE TRP opened at $64.27 on Thursday. The firm has a market capitalization of $64.27 billion, a P/E ratio of 23.89 and a beta of 0.64. The company has a quick ratio of 0.49, a current ratio of 0.57 and a debt-to-equity ratio of 1.61. The stock’s 50-day simple moving average is $61.40 and its two-hundred day simple moving average is $63.97. TC Energy Corporation has a twelve month low of $52.71 and a twelve month high of $71.47.
TC Energy (NYSE:TRP – Get Free Report) (TSE:TRP) last issued its quarterly earnings results on Thursday, November 5th. The pipeline company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.03. TC Energy had a return on equity of 11.67% and a net margin of 25.05%. The firm had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.79 billion. During the same quarter last year, the company posted $0.77 EPS. As a group, equities analysts anticipate that TC Energy Corporation will post 2.81 EPS for the current fiscal year.
TC Energy Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, January 29th. Shareholders of record on Thursday, December 31st will be given a dividend of C$0.88 per share. The ex-dividend date is Thursday, December 31st. This represents a $3.51 annualized dividend and a yield of 5.5%. TC Energy’s payout ratio is presently 93.31%.
TC Energy Company Profile
TC Energy (NYSE: TRP) is a North American energy infrastructure company that develops and operates natural gas and liquids pipelines, natural gas storage facilities, and power-generation assets. Its services help transport and store energy for producers, utilities, businesses, and consumers. The company’s pipeline network spans Canada, the United States, and Mexico. Its power-generation portfolio includes an interest in Bruce Power, which operates a nuclear generating station in Ontario. Founded as TransCanada Corporation, the company adopted the TC Energy name in 2019.
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