TC Energy Corporation $TRP Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lessened its holdings in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 8.7% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,135,660 shares of the pipeline company’s stock after selling 108,796 shares during the period. TC Energy makes up approximately 1.0% of Maryland State Retirement & Pension System’s portfolio, making the stock its 15th biggest holding. Maryland State Retirement & Pension System owned 0.11% of TC Energy worth $65,767,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Canada Pension Plan Investment Board bought a new position in TC Energy during the second quarter valued at about $1,148,244,000. GQG Partners LLC purchased a new stake in shares of TC Energy during the 2nd quarter worth approximately $1,107,936,000. Deutsche Bank AG raised its holdings in shares of TC Energy by 1.3% in the 2nd quarter. Deutsche Bank AG now owns 15,821,521 shares of the pipeline company’s stock worth $1,048,809,000 after purchasing an additional 196,543 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of TC Energy in the 2nd quarter worth approximately $977,976,000. Finally, TD Waterhouse Canada Inc. lifted its stake in TC Energy by 3.0% in the second quarter. TD Waterhouse Canada Inc. now owns 10,619,936 shares of the pipeline company’s stock valued at $695,799,000 after purchasing an additional 312,027 shares during the last quarter. 83.13% of the stock is owned by institutional investors.

TC Energy Stock Up 1.3%

TC Energy stock opened at $64.27 on Thursday. TC Energy Corporation has a 1-year low of $52.71 and a 1-year high of $71.47. The firm has a market capitalization of $64.27 billion, a price-to-earnings ratio of 23.89 and a beta of 0.64. The company has a current ratio of 0.57, a quick ratio of 0.49 and a debt-to-equity ratio of 1.61. The firm has a 50 day simple moving average of $61.40 and a 200 day simple moving average of $63.97.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Thursday, November 5th. The pipeline company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.03. The business had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.79 billion. TC Energy had a net margin of 25.05% and a return on equity of 11.67%. During the same quarter in the previous year, the firm posted $0.77 EPS. On average, analysts predict that TC Energy Corporation will post 2.81 earnings per share for the current year.

TC Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 29th. Stockholders of record on Thursday, December 31st will be given a C$0.88 dividend. The ex-dividend date is Thursday, December 31st. This represents a $3.51 annualized dividend and a dividend yield of 5.5%. TC Energy’s payout ratio is 93.31%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TRP. The Goldman Sachs Group raised TC Energy from a “neutral” rating to a “buy” rating and set a $71.00 target price for the company in a research report on Wednesday, September 30th. Wall Street Zen lowered TC Energy from a “hold” rating to a “sell” rating in a report on Saturday, November 7th. Royal Bank Of Canada restated a “moderate buy” rating and issued a $106.00 price objective on shares of TC Energy in a research note on Friday, September 11th. TD Securities restated a “buy” rating on shares of TC Energy in a research note on Friday, October 16th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $99.00 price objective on shares of TC Energy in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $93.75.

TC Energy Company Profile

TC Energy (NYSE: TRP) is a North American energy infrastructure company that develops and operates natural gas and liquids pipelines, natural gas storage facilities, and power-generation assets. Its services help transport and store energy for producers, utilities, businesses, and consumers. The company’s pipeline network spans Canada, the United States, and Mexico. Its power-generation portfolio includes an interest in Bruce Power, which operates a nuclear generating station in Ontario. Founded as TransCanada Corporation, the company adopted the TC Energy name in 2019.