Duff & Phelps Investment Management Co. Raises Position in TC Energy Co. (NYSE:TRP)

Duff & Phelps Investment Management Co. raised its stake in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 2.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,809,457 shares of the pipeline company's stock after purchasing 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 quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of TC Energy in the 4th quarter valued at $428,759,000. Mufg Securities Canada LTD. boosted its position in TC Energy by 571.7% during the fourth quarter. Mufg Securities Canada LTD. now owns 6,184,832 shares of the pipeline company's stock valued at $288,043,000 after acquiring an additional 5,264,079 shares during the last quarter. Kayne Anderson Capital Advisors LP raised its position in shares of TC Energy by 51.4% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 4,842,255 shares of the pipeline company's stock worth $225,310,000 after acquiring an additional 1,644,115 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of TC Energy in the 4th quarter worth about $75,464,000. Finally, Zurich Insurance Group Ltd FI bought a new stake in shares of TC Energy during the 3rd quarter valued at about $73,162,000. 83.13% of the stock is owned by institutional investors and hedge funds.

TC Energy Stock Up 0.8 %

Shares of TRP stock traded up $0.38 during trading hours on Tuesday, reaching $47.59. The company had a trading volume of 522,512 shares, compared to its average volume of 2,656,490. The business has a fifty day simple moving average of $46.53 and a 200-day simple moving average of $46.96. The company has a market cap of $49.46 billion, a price-to-earnings ratio of 14.71, 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 current ratio of 0.55 and a quick ratio of 1.23. TC Energy Co. has a 12 month low of $34.95 and a 12 month high of $50.37.

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TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.51 by $0.54. The firm had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.42 billion. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. During the same quarter last year, the business posted $1.35 EPS. On average, research analysts expect that TC Energy Co. will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from TC Energy's previous quarterly dividend of $0.82. This represents a $3.40 annualized dividend and a dividend yield of 7.14%. TC Energy's dividend payout ratio (DPR) is currently 72.53%.

Wall Street Analyst Weigh In

TRP has been the topic of a number of research analyst reports. TD Securities started coverage on TC Energy in a report on Wednesday, January 15th. They set a "buy" rating on the stock. StockNews.com lowered shares of TC Energy from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Veritas upgraded shares of TC Energy from a "strong sell" rating to a "strong-buy" rating in a report on Tuesday, February 18th. Royal Bank of Canada raised their target price on TC Energy from $71.00 to $74.00 and gave the company an "outperform" rating in a research note on Tuesday, February 18th. Finally, US Capital Advisors upgraded TC Energy from a "hold" rating to a "moderate buy" rating in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average 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.