TC Energy Corporation $TRP Stock Position Raised by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System boosted its holdings in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 7.2% during the first quarter, Holdings Channel.com reports. The fund owned 1,392,122 shares of the pipeline company’s stock after acquiring an additional 93,054 shares during the period. TC Energy accounts for 1.8% of Maryland State Retirement & Pension System’s investment portfolio, making the stock its 6th largest holding. Maryland State Retirement & Pension System’s holdings in TC Energy were worth $87,043,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of TC Energy by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 47,801,695 shares of the pipeline company’s stock valued at $2,632,200,000 after purchasing an additional 980,221 shares in the last quarter. FIL Ltd raised its position in shares of TC Energy by 3.9% during the 4th quarter. FIL Ltd now owns 28,305,789 shares of the pipeline company’s stock worth $1,558,669,000 after purchasing an additional 1,052,166 shares during the last quarter. TD Asset Management Inc lifted its stake in TC Energy by 6.3% in the 4th quarter. TD Asset Management Inc now owns 20,868,772 shares of the pipeline company’s stock valued at $1,150,656,000 after buying an additional 1,244,525 shares in the last quarter. GQG Partners LLC lifted its stake in TC Energy by 586.5% in the 4th quarter. GQG Partners LLC now owns 16,154,469 shares of the pipeline company’s stock valued at $890,711,000 after buying an additional 13,801,371 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in TC Energy by 63.2% during the 4th quarter. Deutsche Bank AG now owns 15,384,255 shares of the pipeline company’s stock valued at $846,288,000 after buying an additional 5,956,263 shares during the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TRP. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of TC Energy in a report on Tuesday, May 26th. National Bank Financial upgraded TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 4th. TD Securities restated a “hold” rating on shares of TC Energy in a report on Monday, May 4th. BMO Capital Markets reaffirmed an “outperform” rating on shares of TC Energy in a research note on Monday, May 4th. Finally, Barclays reiterated an “overweight” rating on shares of TC Energy in a report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $78.50.

TC Energy Stock Up 1.0%

Shares of NYSE:TRP opened at $68.59 on Wednesday. The company has a current ratio of 0.65, a quick ratio of 0.57 and a debt-to-equity ratio of 1.67. The firm has a market cap of $71.47 billion, a price-to-earnings ratio of 29.77 and a beta of 0.66. The stock’s 50-day moving average price is $68.10 and its two-hundred day moving average price is $63.21. TC Energy Corporation has a 12-month low of $46.61 and a 12-month high of $71.47.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Friday, May 1st. The pipeline company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.02. TC Energy had a net margin of 22.22% and a return on equity of 10.74%. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same period in the prior year, the firm posted $0.95 EPS. On average, research analysts forecast that TC Energy Corporation will post 2.72 EPS for the current year.

TC Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.8775 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.51 dividend on an annualized basis and a yield of 5.1%. TC Energy’s dividend payout ratio (DPR) is currently 107.39%.

About TC Energy

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.