Public Employees Retirement System of Ohio Invests $3.77 Million in TC Energy Co. (NYSE:TRP)

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

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TRP. Canada Pension Plan Investment Board lifted its stake in shares of TC Energy by 107.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 19,462,155 shares of the pipeline company’s stock valued at $737,609,000 after purchasing an additional 10,065,000 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in TC Energy by 156.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company’s stock valued at $321,778,000 after purchasing an additional 4,126,801 shares during the last quarter. Merewether Investment Management LP acquired a new position in TC Energy in the second quarter valued at about $112,618,000. Marshall Wace LLP boosted its holdings in TC Energy by 841.1% during the second quarter. Marshall Wace LLP now owns 2,040,863 shares of the pipeline company’s stock worth $77,349,000 after buying an additional 1,824,008 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI acquired a new position in shares of TC Energy during the 3rd quarter worth about $73,162,000. 83.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. UBS Group raised shares of TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. Morgan Stanley raised shares of TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. JPMorgan Chase & Co. raised TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. StockNews.com initiated coverage on TC Energy in a research note on Wednesday, December 4th. They issued a “hold” rating for the company. Finally, BMO Capital Markets raised their price target on TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, TC Energy presently has an average rating of “Hold” and an average target price of $55.67.

TC Energy Trading Down 0.7 %

TRP opened at $46.47 on Monday. The firm’s fifty day simple moving average is $47.74 and its 200 day simple moving average is $44.27. The stock has a market capitalization of $48.23 billion, a P/E ratio of 12.87, a P/E/G ratio of 3.88 and a beta of 0.82. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78. TC Energy Co. has a 12 month low of $31.83 and a 12 month high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.06. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. The company had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.83 billion. As a group, research analysts anticipate that TC Energy Co. will post 3 EPS for the current fiscal year.

TC Energy Increases Dividend

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

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.