Van ECK Associates Corp Buys 12,101 Shares of TC Energy Co. (NYSE:TRP)

Van ECK Associates Corp boosted its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 3.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 350,349 shares of the pipeline company’s stock after acquiring an additional 12,101 shares during the period. Van ECK Associates Corp’s holdings in TC Energy were worth $16,313,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Addenda Capital Inc. boosted its stake in shares of TC Energy by 4.4% in the 4th quarter. Addenda Capital Inc. now owns 1,034,497 shares of the pipeline company’s stock valued at $48,135,000 after purchasing an additional 43,639 shares during the last quarter. Captrust Financial Advisors grew its holdings in TC Energy by 1.3% during the 3rd quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock worth $871,000 after acquiring an additional 242 shares during the period. Ritholtz Wealth Management raised its position in shares of TC Energy by 44.8% in the 4th quarter. Ritholtz Wealth Management now owns 23,957 shares of the pipeline company’s stock worth $1,115,000 after acquiring an additional 7,412 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of TC Energy in the 3rd quarter valued at about $3,771,000. Finally, Harvest Portfolios Group Inc. boosted its position in shares of TC Energy by 107.7% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 226,007 shares of the pipeline company’s stock valued at $10,743,000 after purchasing an additional 117,176 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on TRP shares. BMO Capital Markets lifted their target price on TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a report on Wednesday, November 20th. US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. Morgan Stanley raised shares of TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. TD Securities assumed coverage on shares of TC Energy in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. Finally, The Goldman Sachs Group increased their price objective on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research report on Monday, October 21st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $56.00.

TC Energy Stock Down 2.8 %

Shares of NYSE TRP opened at $46.05 on Friday. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23. TC Energy Co. has a 1 year low of $31.83 and a 1 year high of $50.37. The stock has a market capitalization of $47.85 billion, a P/E ratio of 12.76, a P/E/G ratio of 4.45 and a beta of 0.81. The company has a 50-day moving average price of $46.61 and a 200-day moving average price of $46.52.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.51 by $0.54. The firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.42 billion. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. During the same period in the prior year, the business posted $1.35 earnings per share. On average, equities research analysts forecast that TC Energy Co. will post 2.92 EPS for the current fiscal year.

TC Energy Increases Dividend

The company also recently disclosed 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 represents a $3.40 dividend on an annualized basis and a yield of 7.38%. This is an increase from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s payout ratio is currently 63.43%.

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.