Van ECK Associates Corp Sells 6,379 Shares of TC Energy Co. (NYSE:TRP)

Van ECK Associates Corp lessened its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 2.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 290,600 shares of the pipeline company’s stock after selling 6,379 shares during the period. Van ECK Associates Corp’s holdings in TC Energy were worth $11,359,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of TC Energy by 70.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 16,540,018 shares of the pipeline company’s stock worth $569,058,000 after buying an additional 6,840,000 shares during the period. Canada Pension Plan Investment Board lifted its stake in TC Energy by 18.0% in the third quarter. Canada Pension Plan Investment Board now owns 24,574,983 shares of the pipeline company’s stock worth $849,037,000 after acquiring an additional 3,740,495 shares during the period. Blackstone Inc. grew its holdings in TC Energy by 540.4% during the 3rd quarter. Blackstone Inc. now owns 3,117,031 shares of the pipeline company’s stock worth $107,257,000 after acquiring an additional 2,630,324 shares in the last quarter. Morgan Stanley increased its position in TC Energy by 42.5% during the 3rd quarter. Morgan Stanley now owns 6,821,231 shares of the pipeline company’s stock valued at $234,719,000 after purchasing an additional 2,034,846 shares during the period. Finally, CIBC Asset Management Inc raised its holdings in shares of TC Energy by 24.8% in the 3rd quarter. CIBC Asset Management Inc now owns 9,567,604 shares of the pipeline company’s stock valued at $330,044,000 after purchasing an additional 1,901,838 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Barclays boosted their price objective on shares of TC Energy from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Monday, January 29th. Jefferies Financial Group initiated coverage on TC Energy in a research report on Tuesday, February 27th. They issued a “hold” rating for the company. The Goldman Sachs Group raised their price objective on TC Energy from $29.00 to $32.00 and gave the company a “sell” rating in a research report on Friday, January 26th. TheStreet upgraded shares of TC Energy from a “c+” rating to a “b-” rating in a report on Wednesday, March 20th. Finally, Stifel Nicolaus initiated coverage on shares of TC Energy in a report on Thursday, January 18th. They issued a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, TC Energy has an average rating of “Hold” and a consensus target price of $48.83.

TC Energy Stock Up 1.9 %

NYSE:TRP opened at $36.41 on Friday. The company’s 50 day moving average is $38.53 and its two-hundred day moving average is $38.07. The company has a market cap of $36.41 billion, a PE ratio of 17.94, a P/E/G ratio of 3.07 and a beta of 0.76. TC Energy Co. has a twelve month low of $32.51 and a twelve month high of $42.49. The company has a current ratio of 0.96, a quick ratio of 0.88 and a debt-to-equity ratio of 1.65.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Friday, February 16th. The pipeline company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.20. The firm had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $2.93 billion. TC Energy had a return on equity of 18.60% and a net margin of 18.25%. Analysts anticipate that TC Energy Co. will post 2.91 EPS for the current year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were given a dividend of $0.714 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This is a positive change from TC Energy’s previous quarterly dividend of $0.67. This represents a $2.86 dividend on an annualized basis and a yield of 7.84%. TC Energy’s dividend payout ratio (DPR) is currently 139.41%.

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.