Public Employees Retirement System of Ohio Decreases Holdings in TC Energy Corporation $TRP

Key Points

• The Public Employees Retirement System of Ohio reduced its holdings in TC Energy Corporation by 40.2%, owning 154,552 shares valued at approximately $7.53 million after selling 104,092 shares.
• TC Energy recently announced a quarterly dividend increase to $0.6148 per share, reflecting a 4.6% yield and a payout ratio of 85.32%.
• Analysts have mixed ratings on TC Energy, with a consensus price target of $62.00 and ratings ranging from "Strong Buy" to "Sell."

Public Employees Retirement System of Ohio cut its holdings in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 40.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 154,552 shares of the pipeline company's stock after selling 104,092 shares during the quarter. Public Employees Retirement System of Ohio's holdings in TC Energy were worth $7,531,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. TruNorth Capital Management LLC purchased a new position in shares of TC Energy during the first quarter worth approximately $45,000. Truvestments Capital LLC bought a new position in shares of TC Energy in the first quarter worth approximately $45,000. Golden State Wealth Management LLC grew its holdings in shares of TC Energy by 222.2% in the first quarter. Golden State Wealth Management LLC now owns 1,076 shares of the pipeline company's stock worth $51,000 after purchasing an additional 742 shares during the last quarter. SBI Securities Co. Ltd. grew its holdings in shares of TC Energy by 75.3% in the first quarter. SBI Securities Co. Ltd. now owns 1,166 shares of the pipeline company's stock worth $55,000 after purchasing an additional 501 shares during the last quarter. Finally, HM Payson & Co. bought a new position in shares of TC Energy in the first quarter worth approximately $60,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Stock Performance

NYSE:TRP opened at $53.39 on Friday. The stock has a market cap of $55.54 billion, a P/E ratio of 18.22, a price-to-earnings-growth ratio of 5.13 and a beta of 0.77. The firm's fifty day simple moving average is $50.72 and its 200 day simple moving average is $49.39. TC Energy Corporation has a twelve month low of $42.18 and a twelve month high of $54.18. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.54.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its quarterly earnings data on Thursday, July 31st. The pipeline company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.56 by $0.03. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $2.56 billion. TC Energy had a return on equity of 11.22% and a net margin of 28.98%.During the same quarter last year, the firm posted $0.79 earnings per share. As a group, research analysts predict that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 29th will be given a dividend of $0.6148 per share. This is an increase from TC Energy's previous quarterly dividend of $0.61. This represents a $2.46 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Monday, September 29th. TC Energy's payout ratio is 85.32%.

Analysts Set New Price Targets

TRP has been the topic of several recent analyst reports. US Capital Advisors cut shares of TC Energy from a "moderate buy" rating to a "hold" rating in a report on Thursday, August 21st. Barclays restated an "overweight" rating on shares of TC Energy in a report on Thursday, August 14th. Finally, Wall Street Zen upgraded shares of TC Energy from a "sell" rating to a "hold" rating in a report on Saturday, September 13th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $62.00.

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.

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