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

Public Employees Retirement System of Ohio lessened its stake in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 40.2% in the 2nd quarter, Holdings Channel.com reports. The firm 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 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. TruNorth Capital Management LLC purchased a new position in shares of TC Energy in the 1st quarter worth about $45,000. Truvestments Capital LLC purchased a new position in TC Energy in the 1st quarter worth about $45,000. Golden State Wealth Management LLC raised its position in TC Energy by 222.2% in the 1st quarter. Golden State Wealth Management LLC now owns 1,076 shares of the pipeline company’s stock worth $51,000 after buying an additional 742 shares during the last quarter. SBI Securities Co. Ltd. raised its position in TC Energy by 75.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,166 shares of the pipeline company’s stock worth $55,000 after buying an additional 501 shares during the last quarter. Finally, HM Payson & Co. purchased a new position in TC Energy in the 1st quarter worth about $60,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Trading Down 0.6%

Shares of NYSE:TRP opened at $53.39 on Friday. The stock has a 50 day moving average of $50.72 and a 200 day moving average of $49.39. The company has a market cap of $55.54 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 5.13 and a beta of 0.77. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.54. TC Energy Corporation has a 12-month low of $42.18 and a 12-month high of $54.18.

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

TC Energy Increases Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TRP. Wall Street Zen raised TC Energy from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Barclays reissued an “overweight” rating on shares of TC Energy in a research report on Thursday, August 14th. Finally, US Capital Advisors downgraded TC Energy from a “moderate buy” rating to a “hold” rating in a research note on Thursday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $62.00.

TC Energy 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.