Maryland State Retirement & Pension System Lowers Position in TC Energy Corporation $TRP

Maryland State Retirement & Pension System cut its stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 5.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,299,068 shares of the pipeline company’s stock after selling 71,007 shares during the period. TC Energy comprises about 1.5% of Maryland State Retirement & Pension System’s investment portfolio, making the stock its 12th biggest position. Maryland State Retirement & Pension System owned approximately 0.12% of TC Energy worth $71,568,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. State of Wisconsin Investment Board purchased a new position in TC Energy during the fourth quarter valued at $20,125,000. Captrust Financial Advisors lifted its position in TC Energy by 11.4% during the fourth quarter. Captrust Financial Advisors now owns 18,339 shares of the pipeline company’s stock valued at $1,009,000 after purchasing an additional 1,880 shares in the last quarter. &PARTNERS lifted its position in TC Energy by 5.1% during the fourth quarter. &PARTNERS now owns 128,768 shares of the pipeline company’s stock valued at $7,088,000 after purchasing an additional 6,215 shares in the last quarter. Alberta Investment Management Corp purchased a new position in TC Energy during the fourth quarter valued at $55,652,000. Finally, OMERS ADMINISTRATION Corp lifted its position in TC Energy by 49.6% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 2,420,000 shares of the pipeline company’s stock valued at $133,433,000 after purchasing an additional 802,190 shares in the last quarter. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

TC Energy Price Performance

Shares of TC Energy stock opened at $68.88 on Wednesday. The stock’s 50-day simple moving average is $65.91 and its 200-day simple moving average is $61.29. TC Energy Corporation has a 52 week low of $46.29 and a 52 week high of $71.47. The company has a market capitalization of $68.88 billion, a price-to-earnings ratio of 29.90 and a beta of 0.66. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 1.67.

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

TC Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be given a $0.8775 dividend. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date is Tuesday, June 30th. TC Energy’s payout ratio is currently 109.57%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Citigroup reiterated a “neutral” rating on shares of TC Energy in a research report on Thursday, February 19th. BMO Capital Markets reiterated an “outperform” rating on shares of TC Energy in a research report on Monday, May 4th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of TC Energy in a research report on Tuesday, May 26th. Scotiabank reiterated an “outperform” rating on shares of TC Energy in a research report on Monday, May 4th. Finally, Barclays restated an “overweight” rating on shares of TC Energy in a research report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.