Maryland State Retirement & Pension System Has $63.66 Million Position in TC Energy Co. (NYSE:TRP)

Maryland State Retirement & Pension System raised its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 1.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,366,669 shares of the pipeline company’s stock after purchasing an additional 15,462 shares during the period. TC Energy accounts for approximately 1.4% of Maryland State Retirement & Pension System’s portfolio, making the stock its 8th largest holding. Maryland State Retirement & Pension System’s holdings in TC Energy were worth $63,663,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of TRP. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of TC Energy by 32.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 43,392 shares of the pipeline company’s stock worth $2,063,000 after acquiring an additional 10,637 shares during the period. Oppenheimer Asset Management Inc. bought a new position in shares of TC Energy in the third quarter worth $215,000. Natixis Advisors LLC boosted its holdings in shares of TC Energy by 10.9% in the third quarter. Natixis Advisors LLC now owns 49,438 shares of the pipeline company’s stock worth $2,351,000 after acquiring an additional 4,877 shares during the period. Thrivent Financial for Lutherans bought a new position in shares of TC Energy in the third quarter worth $236,000. Finally, Prospera Financial Services Inc boosted its holdings in shares of TC Energy by 4.8% in the third quarter. Prospera Financial Services Inc now owns 5,754 shares of the pipeline company’s stock worth $274,000 after acquiring an additional 262 shares during the period. 83.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on TRP. TD Securities assumed coverage on TC Energy in a report on Wednesday, January 15th. They issued a “buy” rating for the company. BMO Capital Markets increased their price objective on TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 20th. StockNews.com downgraded TC Energy from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. Finally, Royal Bank of Canada increased their price objective on TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $62.00.

TC Energy Trading Down 0.1 %

NYSE TRP opened at $47.72 on Wednesday. The stock’s 50-day simple moving average is $46.26 and its two-hundred day simple moving average is $46.83. TC Energy Co. has a twelve month low of $34.95 and a twelve month high of $50.37. 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 company has a market capitalization of $49.59 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 4.34 and a beta of 0.83.

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. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.42 billion. During the same quarter last year, the business posted $1.35 earnings per share. Research analysts forecast 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. Shareholders of record on Monday, March 31st will be given a dividend of $0.85 per share. This is an increase 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 dividend on an annualized basis and a yield of 7.12%. TC Energy’s dividend payout ratio (DPR) is presently 72.53%.

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.