Duff & Phelps Investment Management Co. Has $84.19 Million Stake in TC Energy Co. (NYSE:TRP)

Duff & Phelps Investment Management Co. raised its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 2.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,809,457 shares of the pipeline company’s stock after buying an additional 45,542 shares during the period. Duff & Phelps Investment Management Co. owned 0.17% of TC Energy worth $84,194,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new stake in TC Energy in the fourth quarter valued at $31,000. Versant Capital Management Inc bought a new stake in shares of TC Energy during the 4th quarter worth about $33,000. Synergy Investment Management LLC acquired a new position in TC Energy in the 4th quarter valued at about $36,000. Point72 DIFC Ltd bought a new position in TC Energy in the 3rd quarter valued at about $39,000. Finally, Millstone Evans Group LLC acquired a new stake in TC Energy during the fourth quarter worth approximately $41,000. 83.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on TRP shares. TD Securities started coverage on TC Energy in a research note on Wednesday, January 15th. They set a “buy” rating on the stock. Royal Bank of Canada lifted their target price on TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. StockNews.com cut shares of TC Energy from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Veritas raised shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. Finally, US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $62.00.

TC Energy Stock Performance

NYSE TRP opened at $48.27 on Friday. The company has a market capitalization of $50.16 billion, a PE ratio of 14.90, a price-to-earnings-growth ratio of 4.34 and a beta of 0.83. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55. TC Energy Co. has a 52-week low of $34.95 and a 52-week high of $50.37. The company has a 50-day simple moving average of $46.53 and a 200 day simple moving average of $46.93.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.54. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. The company had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.42 billion. During the same quarter in the prior year, the company earned $1.35 EPS. On average, research analysts predict that TC Energy Co. will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a $0.85 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.40 annualized dividend and a dividend yield of 7.04%. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s payout ratio is 72.53%.

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.