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

Van ECK Associates Corp raised its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 3.6% in the fourth quarter, Holdings Channel reports. The firm owned 350,349 shares of the pipeline company’s stock after purchasing an additional 12,101 shares during the period. Van ECK Associates Corp’s holdings in TC Energy were worth $16,313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Captrust Financial Advisors raised its holdings in shares of TC Energy by 1.3% in the 3rd quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock worth $871,000 after purchasing an additional 242 shares during the period. Prospera Financial Services Inc raised its stake in shares of TC Energy by 4.8% in the third quarter. Prospera Financial Services Inc now owns 5,754 shares of the pipeline company’s stock valued at $274,000 after buying an additional 262 shares during the period. First Horizon Advisors Inc. lifted its position in shares of TC Energy by 8.1% during the 3rd quarter. First Horizon Advisors Inc. now owns 3,505 shares of the pipeline company’s stock valued at $167,000 after buying an additional 264 shares during the last quarter. Blue Trust Inc. grew its stake in shares of TC Energy by 72.0% during the 3rd 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, Cohen Investment Advisors LLC increased its holdings in TC Energy by 2.9% in the 4th quarter. Cohen Investment Advisors LLC now owns 9,831 shares of the pipeline company’s stock worth $457,000 after acquiring an additional 279 shares during the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Price Performance

NYSE:TRP opened at $46.05 on Friday. The firm has a market capitalization of $47.85 billion, a price-to-earnings ratio of 12.76, a P/E/G ratio of 4.45 and a beta of 0.81. TC Energy Co. has a 52-week low of $31.83 and a 52-week high of $50.37. The stock has a fifty day moving average of $46.61 and a 200 day moving average of $46.52. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31.

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

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 7.38%. This is a boost from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s payout ratio is currently 63.43%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on TRP shares. StockNews.com initiated coverage on shares of TC Energy in a research report on Wednesday, December 4th. They set a “hold” rating for the company. TD Securities started coverage on shares of TC Energy in a report on Wednesday, January 15th. They issued a “buy” rating for the company. The Goldman Sachs Group increased their target price on TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research report on Monday, October 21st. US Capital Advisors raised TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. Finally, Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $56.00.

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.