Duff & Phelps Investment Management Co. Buys 730,415 Shares of TC Energy Co. (NYSE:TRP)

Duff & Phelps Investment Management Co. lifted its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 70.7% in the third quarter, HoldingsChannel.com reports. The fund owned 1,763,915 shares of the pipeline company’s stock after purchasing an additional 730,415 shares during the period. Duff & Phelps Investment Management Co.’s holdings in TC Energy were worth $83,874,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. EdgeRock Capital LLC bought a new stake in TC Energy in the 2nd quarter worth approximately $25,000. Whittier Trust Co. of Nevada Inc. raised its position in TC Energy by 138.8% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 429 shares during the period. Fortitude Family Office LLC bought a new stake in shares of TC Energy during the 3rd quarter valued at $28,000. Blue Trust Inc. boosted its stake in shares of TC Energy by 72.0% in the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after acquiring an additional 267 shares during the period. Finally, Point72 DIFC Ltd purchased a new stake in TC Energy during the 3rd quarter valued at approximately $39,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TRP has been the subject of a number of research analyst reports. The Goldman Sachs Group raised their price objective on TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research report on Monday, October 21st. Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. StockNews.com began coverage on TC Energy in a report on Wednesday, December 4th. They set a “hold” rating on the stock. BMO Capital Markets raised their target price on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. Finally, Veritas raised shares of TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $55.67.

TC Energy Trading Down 1.4 %

Shares of TRP opened at $48.25 on Monday. The company’s fifty day simple moving average is $47.62 and its 200-day simple moving average is $43.96. The company has a market cap of $50.08 billion, a P/E ratio of 13.37, a P/E/G ratio of 4.03 and a beta of 0.82. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78. TC Energy Co. has a twelve month low of $31.83 and a twelve month high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.06. The business had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.83 billion. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. As a group, analysts expect that TC Energy Co. will post 3 EPS for the current year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a dividend of $0.822 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.29 dividend on an annualized basis and a yield of 6.81%. This is a boost from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s payout ratio is presently 78.95%.

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.