Public Employees Retirement System of Ohio Makes New Investment in TC Energy Co. (NYSE:TRP)

Public Employees Retirement System of Ohio acquired a new position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 79,248 shares of the pipeline company’s stock, valued at approximately $3,771,000.

A number of other large investors have also modified their holdings of the company. Captrust Financial Advisors boosted 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 in the last quarter. CIBC Asset Management Inc boosted its position in shares of TC Energy by 2.6% during the 2nd quarter. CIBC Asset Management Inc now owns 8,515,086 shares of the pipeline company’s stock valued at $322,584,000 after acquiring an additional 214,689 shares in the last quarter. Harvest Portfolios Group Inc. increased its stake in TC Energy by 107.7% in the third quarter. Harvest Portfolios Group Inc. now owns 226,007 shares of the pipeline company’s stock valued at $10,743,000 after acquiring an additional 117,176 shares during the period. Partners Group Holding AG raised its position in TC Energy by 25.8% in the third quarter. Partners Group Holding AG now owns 845,335 shares of the pipeline company’s stock worth $40,196,000 after purchasing an additional 173,250 shares in the last quarter. Finally, FMR LLC lifted its stake in TC Energy by 2,821.8% during the third quarter. FMR LLC now owns 574,427 shares of the pipeline company’s stock worth $27,311,000 after purchasing an additional 554,767 shares during the period. 83.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Veritas raised TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. StockNews.com began coverage on TC Energy in a report on Wednesday, December 4th. They set a “hold” rating for the company. JPMorgan Chase & Co. raised shares of TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. BMO Capital Markets lifted their price target on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. Finally, The Goldman Sachs Group upped their price objective on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research note on Monday, October 21st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $55.67.

TC Energy Stock Down 0.7 %

Shares of NYSE TRP opened at $46.47 on Monday. TC Energy Co. has a 12-month low of $31.83 and a 12-month high of $50.37. The firm’s 50-day simple moving average is $47.74 and its 200 day simple moving average is $44.27. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78. The company has a market cap of $48.23 billion, a price-to-earnings ratio of 12.87, a price-to-earnings-growth ratio of 3.88 and a beta of 0.82.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.83 billion. On average, research analysts expect that TC Energy Co. will post 3 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $0.822 dividend. This represents a $3.29 dividend on an annualized basis and a yield of 7.08%. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, December 31st. TC Energy’s dividend payout ratio (DPR) is presently 78.95%.

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.