Public Employees Retirement System of Ohio Acquires 272,457 Shares of TC Energy Co. (NYSE:TRP)

Public Employees Retirement System of Ohio raised its holdings in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 343.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 351,705 shares of the pipeline company's stock after acquiring an additional 272,457 shares during the quarter. Public Employees Retirement System of Ohio's holdings in TC Energy were worth $16,375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. NTV Asset Management LLC lifted its position in TC Energy by 4.0% during 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 in the last quarter. Lee Financial Co raised its stake in shares of TC Energy by 3.1% in 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 raised its stake in shares of TC Energy by 7.0% in 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. Benjamin Edwards Inc. lifted its position in shares of TC Energy by 1.7% during the 4th quarter. Benjamin Edwards Inc. now owns 16,003 shares of the pipeline company's stock valued at $745,000 after buying an additional 273 shares in the last quarter. Finally, Global Retirement Partners LLC grew its stake in shares of TC Energy by 7.2% during the 4th quarter. Global Retirement Partners LLC now owns 4,099 shares of the pipeline company's stock valued at $191,000 after acquiring an additional 274 shares during the period. Institutional investors own 83.13% of the company's stock.

Wall Street Analyst Weigh In

TRP has been the topic of a number of recent analyst reports. Royal Bank of Canada raised their target price 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. Cibc World Mkts raised shares of TC Energy from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 2nd. CIBC upgraded shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a research report on Friday, May 2nd. Citigroup started coverage on shares of TC Energy in a research note on Friday, April 4th. They set a "neutral" rating on the stock. Finally, Veritas upgraded TC Energy from a "strong sell" rating to a "strong-buy" rating in a research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $62.00.

TC Energy Price Performance

Shares of TRP stock traded up $0.55 during mid-day trading on Friday, hitting $50.40. The company had a trading volume of 544,640 shares, compared to its average volume of 2,484,592. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23. The stock's 50 day moving average price is $48.80 and its 200-day moving average price is $47.61. TC Energy Co. has a 52-week low of $37.07 and a 52-week high of $51.34. The company has a market capitalization of $52.40 billion, a P/E ratio of 15.55, a P/E/G ratio of 4.34 and a beta of 0.78.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its quarterly earnings results on Thursday, May 1st. The pipeline company reported $0.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.70 by ($0.04). TC Energy had a net margin of 29.40% and a return on equity of 12.12%. The company had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter in the prior year, the firm posted $1.02 earnings per share. Equities research analysts forecast that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a $0.6142 dividend. The ex-dividend date is Monday, June 30th. This represents a $2.46 annualized dividend and a dividend yield of 4.88%. TC Energy's dividend payout ratio (DPR) is 77.89%.

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.