TC Energy Co. (NYSE:TRP) Shares Purchased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System increased its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 1.8% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 1,302,358 shares of the pipeline company’s stock after acquiring an additional 22,430 shares during the period. TC Energy makes up about 1.0% of Maryland State Retirement & Pension System’s holdings, making the stock its 11th largest holding. Maryland State Retirement & Pension System owned approximately 0.13% of TC Energy worth $52,355,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. EdgeRock Capital LLC acquired a new stake in TC Energy in the fourth quarter valued at approximately $25,000. Bruce G. Allen Investments LLC purchased a new stake in TC Energy during the 4th quarter worth about $26,000. Creekmur Asset Management LLC acquired a new position in shares of TC Energy during the 4th quarter worth about $27,000. Glassman Wealth Services boosted its position in shares of TC Energy by 61.0% during the 4th quarter. Glassman Wealth Services now owns 726 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 275 shares in the last quarter. Finally, OLD Point Trust & Financial Services N A purchased a new position in shares of TC Energy in the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Stock Performance

TRP traded up $0.42 during trading on Thursday, hitting $38.17. 824,953 shares of the stock were exchanged, compared to its average volume of 3,252,232. The firm has a market capitalization of $38.17 billion, a P/E ratio of 19.68, a PEG ratio of 3.13 and a beta of 0.79. TC Energy Co. has a 1-year low of $32.51 and a 1-year high of $41.03. The stock has a fifty day moving average price of $38.22 and a two-hundred day moving average price of $38.74. The company has a quick ratio of 0.85, a current ratio of 0.94 and a debt-to-equity ratio of 1.64.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Friday, May 3rd. The pipeline company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.09. The business had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.12 billion. TC Energy had a net margin of 17.23% and a return on equity of 17.94%. As a group, sell-side analysts predict that TC Energy Co. will post 3.01 earnings per share for the current year.

TC Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be issued a $0.71 dividend. The ex-dividend date is Friday, June 28th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.44%. TC Energy’s payout ratio is 143.81%.

Wall Street Analyst Weigh In

Separately, TheStreet raised TC Energy from a “c+” rating to a “b-” rating in a report on Wednesday, March 20th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, TC Energy has an average rating of “Hold” and a consensus target price of $48.83.

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.