Duff & Phelps Investment Management Co. Buys 45,542 Shares of TC Energy Co. (NYSE:TRP)

Duff & Phelps Investment Management Co. grew its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 2.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,809,457 shares of the pipeline company’s stock after acquiring an additional 45,542 shares during the period. Duff & Phelps Investment Management Co.’s holdings in TC Energy were worth $84,194,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of TRP. Norges Bank bought a new stake in TC Energy during the 4th quarter worth approximately $428,759,000. Korea Investment CORP grew its position in shares of TC Energy by 108.5% during the 4th quarter. Korea Investment CORP now owns 625,606 shares of the pipeline company’s stock valued at $29,140,000 after purchasing an additional 325,627 shares in the last quarter. Mufg Securities Canada LTD. raised its position in shares of TC Energy by 571.7% in the fourth quarter. Mufg Securities Canada LTD. now owns 6,184,832 shares of the pipeline company’s stock worth $288,043,000 after buying an additional 5,264,079 shares in the last quarter. Zions Bancorporation N.A. boosted its stake in TC Energy by 13.0% during the fourth quarter. Zions Bancorporation N.A. now owns 167,150 shares of the pipeline company’s stock valued at $7,777,000 after buying an additional 19,223 shares during the period. Finally, TD Asset Management Inc. grew its position in TC Energy by 2.1% during the fourth quarter. TD Asset Management Inc. now owns 16,437,150 shares of the pipeline company’s stock worth $765,627,000 after buying an additional 344,485 shares in the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Stock Down 0.4 %

Shares of NYSE:TRP opened at $48.27 on Friday. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56. TC Energy Co. has a 12-month low of $34.95 and a 12-month high of $50.37. The stock’s 50-day moving average price is $46.53 and its 200-day moving average price is $46.93. The stock has a market capitalization of $50.16 billion, a P/E ratio of 14.90, a price-to-earnings-growth ratio of 4.34 and a beta of 0.83.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $2.42 billion. During the same quarter in the previous year, the business earned $1.35 EPS. On average, equities analysts anticipate that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.85 per share. This is an increase from TC Energy’s previous quarterly dividend of $0.82. The ex-dividend date is Monday, March 31st. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.04%. TC Energy’s dividend payout ratio is 72.53%.

Analyst Ratings Changes

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

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.