Maryland State Retirement & Pension System Acquires 15,462 Shares of TC Energy Co. (NYSE:TRP)

Maryland State Retirement & Pension System boosted its stake in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 1.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,366,669 shares of the pipeline company's stock after purchasing an additional 15,462 shares during the quarter. TC Energy comprises 1.4% of Maryland State Retirement & Pension System's portfolio, making the stock its 8th largest position. Maryland State Retirement & Pension System owned about 0.13% of TC Energy worth $63,663,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. NTV Asset Management LLC grew its holdings in TC Energy by 4.0% in the fourth quarter. NTV Asset Management LLC now owns 6,189 shares of the pipeline company's stock valued at $288,000 after purchasing an additional 239 shares during the period. Captrust Financial Advisors grew its stake in TC Energy by 1.3% during the third quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company's stock worth $871,000 after buying an additional 242 shares during the period. Lee Financial Co grew its stake in TC Energy by 3.1% during the fourth quarter. Lee Financial Co now owns 8,185 shares of the pipeline company's stock worth $381,000 after buying an additional 246 shares during the period. IFP Advisors Inc grew its stake in TC Energy by 7.0% during the fourth quarter. IFP Advisors Inc now owns 3,809 shares of the pipeline company's stock worth $177,000 after buying an additional 249 shares during the period. Finally, Prospera Financial Services Inc grew its stake in TC Energy by 4.8% during the third quarter. Prospera Financial Services Inc now owns 5,754 shares of the pipeline company's stock worth $274,000 after buying an additional 262 shares during the period. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several equities research analysts have issued reports on TRP shares. Veritas upgraded shares of TC Energy from a "strong sell" rating to a "strong-buy" rating in a research note on Tuesday, February 18th. Royal Bank of Canada boosted their price objective on shares of TC Energy from $71.00 to $74.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. StockNews.com downgraded shares of TC Energy from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. TD Securities assumed coverage on shares of TC Energy in a research report on Wednesday, January 15th. They set a "buy" rating on the stock. Finally, US Capital Advisors raised shares of TC Energy from a "hold" rating to a "moderate buy" rating in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $62.00.

TC Energy Stock Down 1.5 %

Shares of NYSE TRP traded down $0.72 during trading on Friday, reaching $48.45. 1,451,699 shares of the stock were exchanged, compared to its average volume of 2,546,033. The company has a market capitalization of $50.34 billion, a price-to-earnings ratio of 14.95, a price-to-earnings-growth ratio of 4.34 and a beta of 0.83. The business's 50-day moving average price is $46.33 and its 200 day moving average price is $46.87. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56. TC Energy Co. has a twelve month low of $34.95 and a twelve month high of $50.37.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.54. The firm had revenue of $2.56 billion for the quarter, compared to analysts' expectations of $2.42 billion. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. During the same period in the prior year, the company posted $1.35 earnings per share. As a group, equities analysts forecast that TC Energy Co. will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a $0.85 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from TC Energy's previous quarterly dividend of $0.82. This represents a $3.40 annualized dividend and a yield of 7.02%. TC Energy's dividend payout ratio is currently 72.53%.

About TC Energy

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.