TC Energy Corporation $TRP is Maryland State Retirement & Pension System's 6th Largest Position

Key Points

• Maryland State Retirement & Pension System increased its TC Energy stake by 7.2% in the first quarter, buying 93,054 more shares and making the stock its 6th largest holding.
• TC Energy has strong institutional ownership overall, with hedge funds and other institutions holding 83.13% of the company’s shares.
• The company recently reported quarterly EPS of $0.72, topping estimates, and also declared a quarterly dividend of $0.8775 per share, equal to a 5.1% annual yield.

Maryland State Retirement & Pension System lifted its holdings in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 7.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,392,122 shares of the pipeline company's stock after buying an additional 93,054 shares during the period. TC Energy makes up approximately 1.8% of Maryland State Retirement & Pension System's holdings, making the stock its 6th largest position. Maryland State Retirement & Pension System owned approximately 0.13% of TC Energy worth $87,043,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in TC Energy by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 47,801,695 shares of the pipeline company's stock valued at $2,632,200,000 after acquiring an additional 980,221 shares during the last quarter. FIL Ltd increased its holdings in shares of TC Energy by 3.9% in the fourth quarter. FIL Ltd now owns 28,305,789 shares of the pipeline company's stock valued at $1,558,669,000 after purchasing an additional 1,052,166 shares during the period. TD Asset Management Inc increased its holdings in shares of TC Energy by 6.3% in the fourth quarter. TD Asset Management Inc now owns 20,868,772 shares of the pipeline company's stock valued at $1,150,656,000 after purchasing an additional 1,244,525 shares during the period. GQG Partners LLC raised its stake in shares of TC Energy by 586.5% during the fourth quarter. GQG Partners LLC now owns 16,154,469 shares of the pipeline company's stock worth $890,711,000 after purchasing an additional 13,801,371 shares during the last quarter. Finally, Deutsche Bank AG raised its stake in shares of TC Energy by 63.2% during the fourth quarter. Deutsche Bank AG now owns 15,384,255 shares of the pipeline company's stock worth $846,288,000 after purchasing an additional 5,956,263 shares during the last quarter. Hedge funds and other institutional investors own 83.13% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TRP. Morgan Stanley lowered shares of TC Energy from an "overweight" rating to an "equal weight" rating in a research report on Wednesday, June 10th. The Goldman Sachs Group upgraded shares of TC Energy from a "sell" rating to a "neutral" rating and raised their target price for the stock from $53.00 to $62.00 in a research note on Monday, April 20th. National Bank Financial raised shares of TC Energy from a "hold" rating to a "strong-buy" rating in a report on Monday, May 4th. Scotiabank reaffirmed an "outperform" rating on shares of TC Energy in a report on Monday, May 4th. Finally, Royal Bank Of Canada increased their price target on shares of TC Energy from $92.00 to $95.00 and gave the stock an "outperform" rating in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, TC Energy has a consensus rating of "Moderate Buy" and an average target price of $78.50.

TC Energy Stock Performance

NYSE:TRP opened at $68.59 on Wednesday. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 1.67. TC Energy Corporation has a fifty-two week low of $46.61 and a fifty-two week high of $71.47. The stock has a market cap of $71.47 billion, a PE ratio of 29.77 and a beta of 0.66. The firm's fifty day simple moving average is $68.10 and its 200-day simple moving average is $63.21.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its quarterly earnings data on Friday, May 1st. The pipeline company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.70 by $0.02. TC Energy had a net margin of 22.22% and a return on equity of 10.74%. The firm had revenue of $2.04 billion during the quarter, compared to analysts' expectations of $2.20 billion. During the same quarter last year, the business earned $0.95 earnings per share. Analysts expect that TC Energy Corporation will post 2.72 earnings per share for the current fiscal year.

TC Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.8775 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.51 annualized dividend and a dividend yield of 5.1%. TC Energy's payout ratio is 107.39%.

TC Energy Company Profile

TC Energy NYSE: TRP is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company's principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.

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