Swiss National Bank Sells 64,400 Shares of TC Energy Co. (NYSE:TRP)

Swiss National Bank decreased its position in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 1.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,345,801 shares of the pipeline company's stock after selling 64,400 shares during the period. Swiss National Bank owned 0.33% of TC Energy worth $130,938,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Bruce G. Allen Investments LLC acquired a new position in shares of TC Energy during the 4th quarter worth $26,000. Peoples Bank KS acquired a new position in TC Energy during the third quarter worth $45,000. AdvisorNet Financial Inc raised its holdings in TC Energy by 25.8% during the fourth quarter. AdvisorNet Financial Inc now owns 1,483 shares of the pipeline company's stock valued at $58,000 after buying an additional 304 shares in the last quarter. Whittier Trust Co. raised its holdings in TC Energy by 1,500.0% during the fourth quarter. Whittier Trust Co. now owns 1,840 shares of the pipeline company's stock valued at $72,000 after buying an additional 1,725 shares in the last quarter. Finally, Parkside Financial Bank & Trust acquired a new stake in shares of TC Energy in the fourth quarter worth about $74,000. Hedge funds and other institutional investors own 83.13% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on TRP shares. Stifel Nicolaus started coverage on TC Energy in a research note on Thursday, January 18th. They issued a "buy" rating on the stock. TheStreet raised shares of TC Energy from a "c+" rating to a "b-" rating in a report on Wednesday, March 20th. Barclays lifted their target price on shares of TC Energy from $53.00 to $55.00 and gave the stock an "equal weight" rating in a report on Monday, January 29th. The Goldman Sachs Group upped their price target on shares of TC Energy from $29.00 to $32.00 and gave the company a "sell" rating in a report on Friday, January 26th. Finally, Jefferies Financial Group started coverage on TC Energy in a research note on Tuesday, February 27th. They issued a "hold" rating on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $48.83.

TC Energy Price Performance

Shares of TRP traded up $1.21 during trading hours on Friday, hitting $37.62. The stock had a trading volume of 3,893,017 shares, compared to its average volume of 4,264,774. TC Energy Co. has a 52 week low of $32.51 and a 52 week high of $42.49. The stock has a market capitalization of $37.62 billion, a price-to-earnings ratio of 18.53, a P/E/G ratio of 3.14 and a beta of 0.76. The company's fifty day moving average is $38.49 and its two-hundred day moving average is $38.09. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.96 and a quick ratio of 0.88.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its earnings results on Friday, February 16th. The pipeline company reported $0.99 earnings per share for the quarter, topping analysts' consensus estimates of $0.79 by $0.20. TC Energy had a return on equity of 18.60% and a net margin of 18.25%. The company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.93 billion. On average, analysts anticipate that TC Energy Co. will post 2.9 EPS for the current year.

TC Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be issued a $0.71 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.84 dividend on an annualized basis and a yield of 7.55%. TC Energy's dividend payout ratio is presently 139.41%.

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.