Duff & Phelps Investment Management Co. Acquires 2,500 Shares of TC Energy Co. (NYSE:TRP)

Duff & Phelps Investment Management Co. lifted its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 0.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 886,000 shares of the pipeline company’s stock after purchasing an additional 2,500 shares during the period. Duff & Phelps Investment Management Co. owned about 0.09% of TC Energy worth $34,634,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Intrust Bank NA lifted its position in shares of TC Energy by 42.6% during the 4th quarter. Intrust Bank NA now owns 10,097 shares of the pipeline company’s stock valued at $395,000 after buying an additional 3,014 shares during the last quarter. Stevens Capital Management LP purchased a new position in TC Energy in the 4th quarter valued at approximately $240,000. Parkside Financial Bank & Trust bought a new position in TC Energy in the 4th quarter worth about $74,000. Lorne Steinberg Wealth Management Inc. increased its holdings in shares of TC Energy by 13.6% in the fourth quarter. Lorne Steinberg Wealth Management Inc. now owns 165,282 shares of the pipeline company’s stock worth $6,458,000 after purchasing an additional 19,834 shares during the period. Finally, CWM LLC boosted its stake in TC Energy by 56.2% during the fourth quarter. CWM LLC now owns 2,725 shares of the pipeline company’s stock valued at $107,000 after buying an additional 980 shares during the period. 83.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TRP has been the subject of several research analyst reports. Jefferies Financial Group began coverage on shares of TC Energy in a research report on Tuesday, February 27th. They set a “hold” rating for the company. Stifel Nicolaus began coverage on TC Energy in a research note on Thursday, January 18th. They issued a “buy” rating on the stock. TheStreet raised TC Energy from a “c+” rating to a “b-” rating in a research note on Wednesday, March 20th. Barclays increased their price objective on TC Energy from $53.00 to $55.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. Finally, The Goldman Sachs Group boosted their target price on TC Energy from $29.00 to $32.00 and gave the stock a “sell” rating in a research report on Friday, January 26th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, TC Energy has a consensus rating of “Hold” and a consensus price target of $48.83.

TC Energy Stock Down 0.9 %

Shares of TRP stock traded down $0.31 during midday trading on Tuesday, reaching $35.68. 853,754 shares of the stock were exchanged, compared to its average volume of 3,004,375. The company’s 50 day moving average is $38.76 and its two-hundred day moving average is $38.10. The company has a current ratio of 0.96, a quick ratio of 0.88 and a debt-to-equity ratio of 1.65. The firm has a market cap of $35.68 billion, a PE ratio of 17.69, a price-to-earnings-growth ratio of 3.11 and a beta of 0.75. TC Energy Co. has a 1 year low of $32.51 and a 1 year high of $42.49.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Friday, February 16th. The pipeline company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.20. TC Energy had a net margin of 18.25% and a return on equity of 18.60%. The company had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $2.93 billion. On average, equities research analysts predict that TC Energy Co. will post 2.9 EPS for the current year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be given a $0.714 dividend. This represents a $2.86 annualized dividend and a dividend yield of 8.00%. The ex-dividend date of this dividend is Wednesday, March 27th. This is a positive change from TC Energy’s previous quarterly dividend of $0.67. TC Energy’s payout ratio is currently 139.41%.

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.