Maryland State Retirement & Pension System Has $50.03 Million Stock Holdings in TC Energy Co. (NYSE:TRP)

Maryland State Retirement & Pension System grew its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,279,928 shares of the pipeline company’s stock after acquiring an additional 8,515 shares during the quarter. TC Energy accounts for 1.0% of Maryland State Retirement & Pension System’s holdings, making the stock its 12th biggest position. Maryland State Retirement & Pension System owned approximately 0.13% of TC Energy worth $50,026,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. EverSource Wealth Advisors LLC grew its position in TC Energy by 14.2% in the third quarter. EverSource Wealth Advisors LLC now owns 2,315 shares of the pipeline company’s stock valued at $80,000 after purchasing an additional 288 shares in the last quarter. AdvisorNet Financial Inc boosted its stake in shares of TC Energy by 25.8% during the 4th quarter. AdvisorNet Financial Inc now owns 1,483 shares of the pipeline company’s stock worth $58,000 after buying an additional 304 shares during the last quarter. Wealth Alliance grew its holdings in shares of TC Energy by 1.4% in the 4th quarter. Wealth Alliance now owns 22,531 shares of the pipeline company’s stock valued at $881,000 after acquiring an additional 304 shares in the last quarter. Atria Investments Inc increased its position in shares of TC Energy by 0.7% in the third quarter. Atria Investments Inc now owns 46,620 shares of the pipeline company’s stock valued at $1,604,000 after acquiring an additional 317 shares during the last quarter. Finally, Ingalls & Snyder LLC raised its holdings in TC Energy by 5.8% during the third quarter. Ingalls & Snyder LLC now owns 9,150 shares of the pipeline company’s stock worth $315,000 after acquiring an additional 500 shares in the last quarter. 83.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

TC Energy Trading Down 0.4 %

Shares of TC Energy stock traded down $0.16 on Tuesday, hitting $37.46. 1,394,674 shares of the company’s stock traded hands, compared to its average volume of 3,075,183. The company has a market capitalization of $37.46 billion, a price-to-earnings ratio of 19.39, a price-to-earnings-growth ratio of 3.24 and a beta of 0.76. The company has a fifty day moving average of $38.45 and a two-hundred day moving average of $38.16. 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 Co. has a one year low of $32.51 and a one year high of $42.49.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Friday, February 16th. The pipeline company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.20. TC Energy had a net margin of 17.23% and a return on equity of 20.63%. The firm had revenue of $3.11 billion for the quarter, compared to analyst estimates of $2.93 billion. As a group, sell-side analysts expect that TC Energy Co. will post 2.9 earnings per share for the current year.

TC Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be paid a dividend of $0.71 per share. The ex-dividend date is Friday, June 28th. This represents a $2.84 dividend on an annualized basis and a yield of 7.58%. TC Energy’s dividend payout ratio (DPR) is presently 145.88%.

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.