TC Energy Co. (NYSE:TRP) Shares Acquired by Duff & Phelps Investment Management Co.

Duff & Phelps Investment Management Co. boosted its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 0.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 886,000 shares of the pipeline company’s stock after buying an additional 2,500 shares during the period. Duff & Phelps Investment Management Co.’s holdings in TC Energy were worth $34,634,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Bruce G. Allen Investments LLC acquired a new stake in TC Energy in the 4th quarter valued at about $26,000. Hexagon Capital Partners LLC lifted its stake in TC Energy by 158.3% in the third quarter. Hexagon Capital Partners LLC now owns 1,085 shares of the pipeline company’s stock worth $37,000 after acquiring an additional 665 shares during the last quarter. Peoples Bank KS acquired a new position in TC Energy during the 3rd quarter worth approximately $45,000. AdvisorNet Financial Inc increased its position in shares of TC Energy by 25.8% in the 4th quarter. AdvisorNet Financial Inc now owns 1,483 shares of the pipeline company’s stock valued at $58,000 after purchasing an additional 304 shares during the last quarter. Finally, Whittier Trust Co. raised its holdings in shares of TC Energy by 1,500.0% in the 4th quarter. Whittier Trust Co. now owns 1,840 shares of the pipeline company’s stock valued at $72,000 after purchasing an additional 1,725 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

TC Energy Stock Performance

Shares of TRP traded down $0.31 during mid-day trading on Tuesday, hitting $35.68. 853,754 shares of the company’s stock were exchanged, compared to its average volume of 3,004,375. The business’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 capitalization of $35.68 billion, a P/E ratio of 17.69, a P/E/G ratio of 3.11 and a beta of 0.75. TC Energy Co. has a fifty-two week low of $32.51 and a fifty-two week high of $42.49.

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

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be paid a $0.714 dividend. This is a boost from TC Energy’s previous quarterly dividend of $0.67. This represents a $2.86 annualized dividend and a yield of 8.00%. The ex-dividend date is Wednesday, March 27th. 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.